Bad Credit Auto Loans in Stafford (VA)

You need to get approved for financing, and we can help. Applying through us is fast, safe, and effective. Applicants who meet the minimum criteria have a 90% chance of approval. Apply online, and we’ll find you a finance company given your location, budget, credit profile, and more.

What About Subprime Credit?

Less-than-perfect credit is not an issue. There are six principal credit tiers in the auto finance industry, and we work with dealers and lenders that support each of them. A down payment, as well as monthly income of $1500 per month is often required, but most of our clients get approved within minutes. Let us find a dealer in Stafford who’s willing to work with your credit – today! There are no obligations when you use our service, and no hassles. Simply submit your application online.

How Much Can I Finance?

The chart that follows shows you various loan amounts, based on a monthly income of $1,960, the average in Stafford. These sums are just approximations. You may be entitled to more or less, depending on other factors. Speak with your vehicle finance specialist for more information.

Credit Income Factor Loan Amount
Great Credit 10 $19,600
Decent Credit 9 $17,640
Subprime Credit 8 $15,680
Bad Credit 7 $13,720
Very Bad Credit 6 $13,720

Simply because you’re able to borrow this amount, doesn’t mean it’s a good idea. A smaller loan is advisable, because you’ll be able to pay it off faster.

Down payments can be offered in cash or via trade-in, and typically are priced between 5-20% of the vehicle’s price. They are often required of consumers who have a subpar history of debt payment. After all, financing customers with problematic credit is a much riskier proposition, and a down payment ensures that at least a percentage of the vehicle’s value is not at stake. That said, we have dealers who approve auto loans for people with no down payment.

We get consumers into a new car each and every day, even with credit and down payment issues.

Buy Here Pay Here Car Lots in Stafford

If you have a very low credit score, chances are you are familiar with buy here pay here dealers. Dealers like these work with consumers who can’t get approved by a traditional lender. The interest rates are steep, but approval will likely be guaranteed.

Stafford-Specific Income, Credit Statistics

Banks, dealers, and lenders are concerned with more than just your FICO score. Creditors look at the following:

  • Debt to Income Ratio
  • Source of Income
  • Payment History

Here are some average stats for Stafford residents.

  • Gross Salary: $1,960 Per Month
  • Average Monthly Payment: $216 (11% of Income)
  • Recommended Car Payment: $157 to $196 (8%-10% of Income)

Next we have a breakdown of Stafford’s population by credit rating. These estimates should give you an idea of where you stand in relation to other consumers in your community.

FICO Score % of Population Residents
300-499 2% 1,135
500-549 5% 2,838
550-599 8% 4,541
600-649 12% 6,811
650-699 15% 8,514
700-749 18% 10,217
750-799 27% 15,325
800-850 13% 7,379