Bad Credit Auto Loans in Reston (VA)

Getting your loan pre-arranged streamlines the car-buying process. Our extensive network of dealers and lenders is standing by, awaiting your application. This is how it all works:

  1. Apply for your Reston car loan online.
  2. Sign in to our members’ area to monitor your placement status.
  3. Speak with your lender about your APR and conditions.
  4. Sign your agreement.
  5. Finally, buy the vehicle you want from a nearby dealer.

Sound simple? It really is! Apply Now!

Below-average credit? No problem. We help you find a lender who wants to fund your loan, even when your credit history is sub-standard. There are three subprime credit tiers:

  • Tier 3/C: 580-660
  • Tier 4/D: 520-580
  • Tier 5/F: 250-520

Whatever your score, we have lenders that want your business. Many loan providers want individuals with poor credit to earn at least $1500 monthly, but most users receive their approval within minutes. You’ll typically be matched with a bad credit car dealer or auto lender. These companies submit payment information to the credit agencies. This is a prerequisite for restoring your credit. Apply Now!

How Much Do I Qualify to Finance?

Estimating how much you can borrow is pretty easy. Just multiply your monthly income by the income factor associated with the state of your credit. We’ve included such an estimation, based on the average income of Reston residents: $2,255.

Credit Income Factor Amount
Good Credit 10 $22,550
Average Credit 9 $20,295
Slow Credit 8 $18,040
Poor Credit 7 $15,785
Terrible Credit 6 $15,785

Remember, these are just approximations. For a detailed quote, you must submit your application.

Down payments can be made in cash or trade equity, and typically are priced between 5-20% of the vehicle’s price. They are sometimes required of consumers with a poor history of debt payment. The reason is simple: consumers with below-average credit represent a greater risk for the lending company. Default is more likely, and a down payment means that some percentage of the vehicle’s value is not at stake. That isn’t to say that dealers don’t ever approve people with no money down.

Submit your application. We’ll do our very best to place your application with a lender willing to finance your purchase, zero down payment required.

How About In-House Financing in Reston?

In House financing is otherwise known as:

  • Your Job is Your Credit
  • Tote The Note
  • Rent to Own
  • We Finance

Dealers like these work with people whose credit has been turned down by traditional loan providers. Everything is paid to the dealer, often in person, and the cars and trucks for sale are normally $10,000 or less.

Reston-Specific Financial Profile

Banks, dealers, and car loan lenders are concerned with much more than just your FICO score. Creditors check your income, history of employment and residence, and credit history.

Here are some average statistics for residents of Reston.

  • Pre-Tax Salary: $2,255 Per Month
  • Average Car Payment: $248 (11% of Income)
  • Suggested Car Payment: $180 to $226 (8%-10% of Income)

If you have poor credit, you aren’t the only one. This table depicts how many people in Reston are in each credit tier.

FICO Score % of Population Residents
300-499 2% 1,116
500-549 5% 2,790
550-599 8% 4,464
600-649 12% 6,697
650-699 15% 8,371
700-749 18% 10,045
750-799 27% 15,067
800-850 13% 7,255

As you can see, more than 25% of Reston residents will need a bad credit car loan. If you’re in one of the lower groupings, don’t be concerned. We can still help you get approved.