Bad Credit Auto Loans in Centreville (VA)

Do you need a car loan, the sooner the better? You’ve come to the right place. The benefits of our platform are significant:

  • One application, multiple lending companies
  • Quick acceptance for most borrowers
  • Weak credit seldom a major issue

Simply apply online, and we’ll start working to get you approved from a lender or dealer that suits your needs.

Subprime credit can be a challenge when trying to finance a new vehicle, but not with Virginia Auto Finance. A large number of major lenders and dealers now have complete departments specializing in something known as “special financing.” These are sometimes called bad credit car dealerships. Needless to say, we have relationships with a great many of them. To be sure, your rate of interest would be lower if you had a credit score of 700 plus, but that just comes with the territory. You’ll probably be approved by a bad credit car dealer or auto lender. These companies do report to the credit bureaus, which is great if you want to rebuild your credit. The process is simple, fast, and hassle-free. Simply submit your application online.

How Much Am I Eligible to Finance?

How much will you be eligible to borrow? That will depend on how much established income you have, as well as the credit tier you fall into. This chart details how much individuals of different credit scores can borrow, based on an income of $4,303 monthly, the average in Centreville. Please be aware that these are only estimations.

Credit Income Factor Loan
Great Credit 10 $43,030
Average Credit 9 $38,727
Slow Credit 8 $34,424
Bad Credit 7 $30,121
Really Bad Credit 6 $30,121

Keep in mind, these are approximations. For a definitive quote, you must submit your application.

How Much Will I Owe at Signing?

Plenty of our dealers fund loans for people in Centreville with no down payment. However, a down payment is a smart choice for a number of reasons: it lowers your payment, interest paid, and risk of being upside down. These are the ideal down payments for new and used vehicles.

  • Used Vehicle: 10%
  • New Vehicle: 20%

Still, most of our lenders and dealers realize that down payments are hard to come by given the current economic climate. Apply online, and enter a zero in the down payment section. We’ll do our very best to place your application with a lender or dealer who can fund your loan, zero down payment necessary.

The majority of buy here pay here car lots will want you to provide a down payment, often a hefty one. Dealers like these approve car loans on the lot, rather than relying on banks or lenders. Everything is paid to the dealer, sometimes weekly, and the vehicles are typically priced at less than $10,000.

Centreville Consumer Profile

Truth be told, there’s more to auto financing than just your FICO score. Creditors check your ability to pay (income), stability, and individual credit history.

Here are average statistics for residents of Centreville.

  • Pre-Tax Salary: $51,630 Per Annum
  • Average Car Payment: $473 (11% of Income)
  • Suggested Monthly Payment: $344 to $430 (8%-10% of Income)

Next we have a breakdown of Centreville’s population by credit score. These are just estimates, but they should give you a sense of where you stand.

FICO Score % of Population Residents
300-499 2% 1,208
500-549 5% 3,021
550-599 8% 4,833
600-649 12% 7,250
650-699 15% 9,062
700-749 18% 10,875
750-799 27% 16,312
800-850 13% 7,854

According to these calculations, approximately 16,312 Centreville residents will need a bad credit car loan. If you fall into one of the lower ranges, don’t worry. We can still help you get approved.

Let us help you secure the bad credit car loan in Centreville you need. It’s easy to apply online.