Bad Credit Auto Loans in Sterling (VA)

You need a car loan, and we can help. We work with dealers and lenders in Sterling and across Virginia who want to approve you for financing – today! The actual application is a snap, and there’s no obligation to accept the offer you’re given.

Our application process is ideal for applicants with credit problems. We have dealers and lenders who help people with low credit, and they would love to fund your loan. A down payment and income verification is often expected, but most users are approved nearly instantly. You’ll probably be approved by a lender or dealer in Sterling that finances special finance scenarios. These companies submit payment information to the credit bureaus, which is a prerequisite for restoring your credit.

It’s easy to estimate the amount you can borrow. Just multiply your monthly income by the income factor associated with the state of your credit. We’ve included an example, based on Sterling’s average per capita income, $3,263.

Credit Income Factor Amount
Great Credit 10 $32,630
Decent Credit 9 $29,367
Slow Credit 8 $26,104
Bad Credit 7 $22,841
Horrible Credit 6 $22,841

Of course, these are merely estimations. For an exact quote, you must submit your application.

Down Payment: Do I Need One?

No down payment? No worries. However, a down payment is a smart choice because it lowers your payment, the amount of interest paid, and problems with being upside down. The ideal down payment would be 20% for a new vehicle, and 10% for a used one. With that said, this era’s lenders and dealers realize that down payments are especially tricky in this economy. Our approval platform can often help you find a dealer, bank, or lender who wants to fund your loan, whether or not you can put money down.

In House Financing Car Dealers in Sterling

If you’ve experienced bankruptcy or foreclosure, you have possibly thought about working with an in house financing dealership in Sterling. These dealers specialize in helping people who have been declined by other lending companies. The rates of interest are typically expensive, but approval often is guaranteed.

Sterling Consumer Profile

Lenders are worried about a lot more than just your FICO rating. Lenders evaluate your ability to pay (income), history of employment and residence, and debt repayment history.

The following are average statistics for residents of Sterling.

  • Gross Earnings: $3,263 Per Month
  • Average Monthly Payment: $359 (11% of Income)
  • Recommended Car Payment: $261 to $326 (8%-10% of Income)

Next we have divided up Sterling’s population by FICO score. These estimations should give you an idea of where you stand in relation to other consumers in Sterling.

FICO Score % of Population Residents
300-499 2% 1,314
500-549 5% 3,284
550-599 8% 5,254
600-649 12% 7,881
650-699 15% 9,852
700-749 18% 11,822
750-799 27% 17,733
800-850 13% 8,538

Whenever you are ready, we can help you get the Sterling bad credit auto loan you need. Go here to apply online.