Auto Loans in Mechanicsburg (PA)

At Pennsylvania Auto Finance, we find you the financing you need in less time, with fewer headaches. A growing number of dealerships, banks, and other lenders now have whole departments committed to web-based approvals, and we can help you arrange your loan straight from your computer. The actual application takes under three minutes to submit, and there is no obligation to accept the offer you’re given.

FICO Scores Considered Subprime

Less-than-perfect credit? No problem. We help consumers with damaged credit – it’s what we do. There are three different credit tiers generally considered “bad credit”:

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

Regardless of your score, there are lenders that want to get you into a new car. Yes, your APR won’t be as low as someone with a FICO score of 700 plus, meaning it’s crucial that you purchase a cost-effective vehicle with easily-affordable monthly payments. Allow us to find you a dealer that finances bad credit – today! Apply Online!

Estimating how much you can borrow is pretty easy. All you need to do is multiply your monthly income by the income factor associated with the state of your credit. We’ve included such an estimation, based on Mechanicsburg’s average per capita income: $2,235.

Credit Income Factor Sum
Good Credit 10 $22,350
Decent Credit 9 $20,115
Temporary Bad Credit 8 $17,880
Poor Credit 7 $15,645
Terrible Credit 6 $15,645

Again, the numbers above are approximations. For an exact quote, please submit your application.

Down payments can be made in cash or trade equity, and typically are priced between 5-20% of the vehicle’s sticker price. They are frequently required of consumers who have a poor history of debt payment. The reason is simple: loans to such consumers pose a greater risk to the lender. Non-payment is much more likely, and a down payment ensures that some percentage of the vehicle’s value is not in jeopardy. The good thing is that, as the economy improves, more dealers and lenders will be offering auto loans with no down payment.

Simply indicate your down payment amount on your application, and our platform can probably find you a lender or dealer who wants to fund your loan, whether you have a down payment or not.

In House Financing Car Dealers in Mechanicsburg

Ever wondered about car lots in Mechanicsburg advertising buy here pay here financing? Shoppers who have been unable to get approved for financing because of seriously bad credit often wind up at dealerships like these. Payments are made to the dealership directly, and the vehicles are usually $10,000 or less.

Mechanicsburg Consumer Profile

Lenders are interested in much more than just your credit rating. Creditors consider your income, stability, and history of repayment.

Listed below are average statistics for Mechanicsburg residents.

  • Average Salary: $26,824 Per Year
  • Average Car Payment: $246 (11% of Income)
  • Recommended Car Payment: $179 to $224 (8%-10% of Income)

If you have a bad credit score, you’re not the only one. This table depicts how many people in Mechanicsburg are in each credit level.

FICO Score % of Population Residents
300-499 2% 1185
500-549 5% 2962
550-599 8% 4739
600-649 12% 7108
650-699 15% 8885
700-749 18% 10662
750-799 27% 15993
800-850 13% 7701