If you need to finance a car in Richmond, we can help. A growing number of dealerships, banks, and other lenders now have entire departments committed to web-based approvals, and we can help you line up your financing without leaving your computer. Apply online, and your application will enter our state-of-the-art placement system. There we will find you a car loan that meets your needs.
Trust Richmond’s financing experts. Trust us. Go here to submit your online application. Most qualified borrowers are placed with a lender within minutes, and 100% financing is available for applicants with sufficient income and credit.
Which Credit Tiers Do We Serve?
Credit ratings of 620 or less are typically regarded as subprime or “poor” credit, but our system is an excellent choice for applicants with less-than-perfect credit. There’s no minimum credit score to worry about, and we can help consumers at each of the following subprime credit tiers.
|Credit Tier||FICO Range|
Considering your credit, your rate of interest might be higher, but at least we can get you behind the wheel of a new car. It’s easy to estimate the amount you can borrow. All you have to do is multiply your monthly income by the income factor associated with the state of your credit. We’ve included an example, based on the average income of Richmond residents, $1,255.
|Credit Score||Income Factor||Amount Borrowed|
Keep in mind, these are only approximations. You must submit your application for an actual quote.
How Much Will I Have to Put Down?
Don’t have a down payment? No worries. Having said that, a down payment affords you significant benefits:
- Reduces the length of the loan, meaning less is paid in interest.
- Lowers payment amount.
- Decreases the risks of an underwater loan.
That being said, we realize that down payments are harder to come by in this economic climate. Apply online. We will do our very best to match you with a lender or dealer willing to fund your loan, no down payment needed.
Richmond Buy Here Pay Here Dealers – Ripoff?
These dealers work with people that have been declined by conventional creditors. For many, they are the last and final resort. They should be. The annual percentage rates are inflated, the vehicles leave much to be desired, and few of them can help you improve your credit, as they don’t report payments to the credit bureaus. Still, many Richmond residents flock to these lots, as there are fewer roadblocks to credit acceptance.
Richmond-Specific Financial Profile
Listed here are average statistics for Richmond residents.
- Average Salary: $1,255 Per Month
- Average Monthly Payment: $138 (11% of Income)
- Recommended Monthly Payment: $100 to $126 (8%-10% of Income)
If you have poor credit, you’re not the only one. This chart shows how many people in Richmond are in each credit tier.
|FICO Score||% of Population||Residents|