Bad Credit Auto Loans in Charlottesville (VA)

Pre-arranging your financing streamlines the car-buying process. A growing number of dealerships, banks, and other lenders now have entire departments dedicated to web-based applications, and we can get you approved straight from your own home. The actual application is a snap, and many applicants are approved the same day.

Poor credit can be a real obstacle when it comes to financing, but not when you submit an application through us. If you simply were to go from lender to lender, submitting applications, you may face some rejections. But with our service, you can apply from the privacy of your home or office, and we’ll find a lender willing to get you behind the wheel. Income is their first concern, not credit rating. A down payment and proof of income will often be required. Fortunately, people who apply through us get approved nearly instantly. We can find you a dealer in Charlottesville who’s willing to work with your credit – online! There are no obligations when you use our service, and no hassles. Simply submit your online credit application.

How Much Am I Eligible to Borrow?

The table below shows you how much you can borrow, given a monthly income of $1,378, the average in Charlottesville. These sums are only estimations. You may be entitled to a different amount. Speak with your vehicle finance specialist for more information.

Credit History Income Factor Loan
Great Credit 10 $13,780
Fair Credit 9 $12,402
Temporary Bad Credit 8 $11,024
Bad Credit 7 $9,646
Terrible Credit 6 $9,646

Just because you can borrow this amount, doesn’t mean you ought to. A smaller loan is recommended, because you’ll be able to pay it off more quickly.

No Money Down Car Loans in Charlottesville?

We can find you dealers who fund loans for people in Charlottesville with no down payment. However, a down payment affords you considerable benefits:

  • Reduces the length of the loan, meaning you pay less in interest.
  • Lessens monthly payment.
  • Reduces the risks of an upside down loan.

With that said, you don’t need a down payment to apply. We help our clients get approved each and every day, despite issues with their credit and down payment. Get approved today!

Buy Here Pay Here Car Dealers in Charlottesville

If you’ve been through bankruptcy or foreclosure, you’ve probably wondered about going to a buy here pay here car lot in Charlottesville. These dealerships approve auto loans in-house, rather than relying on banks or lenders. Everything is paid to the dealership, often at the lot, and the cars and trucks for sale typically cost $10,000 or less.

Credit and Income: Charlottesville

Though important, your FICO score is just part of the equation. Lenders review your ability to pay (income), history of employment and residence, and history of repayment.

Listed below are average statistics for Charlottesville residents.

  • Average Salary: $16,537 Annually
  • Average Car Payment: $152 (11% of Income)
  • Suggested Car Payment: $110 to $138 (8%-10% of Income)

Below-average credit. It’s fairly pervasive nowadays in Charlottesville and across Virginia. The table below shows the estimated number of Charlottesville residents at each credit tier.

FICO Score % of Population Residents
300-499 2% 1,979
500-549 5% 4,948
550-599 8% 7,917
600-649 12% 11,875
650-699 15% 14,844
700-749 18% 17,813
750-799 27% 26,719
800-850 13% 12,865