Auto Loans in Media (PA)

Income, credit, down payment – getting a car loan can be a stressful process, but we’re here to help you from application to approval. Many lenders and dealers now have entire departments committed to web-based approvals, and we can help you arrange your loan right from your computer. The application itself is entirely web-based, and there’s no fee or obligation.

FICO Scores of 600 or Lower

FICO scores of 620 or less are typically deemed subprime or bad credit, but our service is the perfect option for consumers with low credit scores. If you just were to go from bank to bank, submitting your application, you may be turned down a few times. However, here at Pennsylvania Auto Finance, you can submit just one finance application, and we’ll find a bad credit car dealer who is ready and willing to fund your loan. Income is their main concern, not FICO score. As you know, low credit scores mean more costly rates of interest, but that’s unavoidable. If you have less-than-perfect credit, you’ll probably be approved by a bad credit dealership or auto lender. In most cases, they will submit information to the credit agencies. This is imperative when you need to restore your credit. It’s easy. Simply submit your secure application.

Auto Loan Pre-Approval in Media: How Much?

Things such as credit and income impact the amount you can borrow. In the table below, we’ve quoted how much consumers of different credit ratings can finance, based on an income of $2,710 monthly, the average for Media residents. Please be aware that these are only estimates.

Credit Income Factor Loan
Excellent Credit 10 $27,100
Decent Credit 9 $24,390
Subprime Credit 8 $21,680
Bad Credit 7 $18,970
Terrible Credit 6 $18,970

Of course, these are just approximations. For a definitive quote, you must submit your application.

Zero Down Auto Loans in Media?

We do work with lenders who offer auto loans with zero down payment, even for people with credit problems. Having said that, a down payment gives you important benefits:

  • Shortens loan, meaning less is paid in interest.
  • Lowers monthly repayment.
  • Reduces negative equity.

Even so, you no longer need a down payment to apply. Simply enter your down payment amount on your application, and we can often find you a dealer or lender who can work with your down payment, or lack thereof.

Media Buy Here Pay Here Dealers

In House financing is sometimes known as:

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

Customers who cannot secure financing because of major credit problems like bankruptcy often wind up at these types of dealerships. The annual percentage rates are typically expensive, but approval is generally guaranteed.

Media Consumer Profile

Credit ratings are only part of the picture. Loan companies consider your ability to pay (income), stability, and debt repayment history.

Here are some average stats for Media residents.

  • Pre-Tax Earnings: $2,710 Monthly
  • Average Car Payment: $298 (11% of Income)
  • Suggested Car Payment: $217 to $271 (8%-10% of Income)

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

FICO Score % of Population Residents
300-499 2% 1454
500-549 5% 3635
550-599 8% 5816
600-649 12% 8724
650-699 15% 10905
700-749 18% 13086
750-799 27% 19630
800-850 13% 9451