Auto Loans in New Castle (PA)

If you want to get approved for a new car or truck, you’ve come to the right place. Many lenders and dealers have entire departments specializing in online applications, and we can help you arrange your loan right from your computer. Submit your application, and our network of dealers and finance companies compete for your business.

What About Subprime Credit?

Poor credit? No problem. We help consumers with low credit scores each and every day. We have lenders who help people with credit scores of 620 and less, and they would love to grant you your New Castle auto loan. Generally, loan providers require people with bad credit to provide a down payment, but most people who apply through us are approved the same day they apply. If you have subprime credit, you’ll probably be approved by a dealer or lender in New Castle that specializes in bad credit. Both of these types of companies submit payment information to the credit agencies, which is a prerequisite for restoring your credit. Apply Now!

How Much Can I Borrow?

The chart that follows shows you how much you can borrow, given a monthly income of $1,421, the average in New Castle. These numbers are merely estimates. You may be eligible for a larger or smaller sum, depending on other factors. Speak with your vehicle finance specialist for more information.

Credit Income Factor Amount Borrowed
Excellent Credit 10 $14,210
Fair Credit 9 $12,789
Subprime Credit 8 $11,368
Poor Credit 7 $9,947
Really Bad Credit 6 $9,947

Just because it’s possible to borrow this amount, doesn’t mean it’s a good idea. A smaller loan is a good option, because it will lower the risk of repossession.

No Money Down Car Loans?

No down payment? No problem. However, providing a down payment is a good idea for a number of reasons: it reduces your payment per month, the amount of interest, and problems with negative equity. An ideal down payment is 20% for a new vehicle, and 10% for a pre-owned one.

Still, we understand that down payments are particularly difficult these days. Our approval platform can often find you a lender or dealer who wants to fund your loan, regardless of whether or not you have a down payment.

In House Financing Car Lots in New Castle

For those who have experienced bankruptcy or repossession, you’ve probably thought about going to one of the buy here pay here car lots in New Castle. Consumers who cannot get approved for financing due to seriously bad credit often wind up at these types of dealerships. Everything is paid to the dealer directly, and the vehicles they sell are usually less than $10,000.

New Castle-Specific Financial Profile

An applicant’s credit score is just part of the equation. Loan companies review such things as:

  • Debt to Income Ratio
  • Job Stability
  • History of Debt Repayment

Listed here are average statistics for New Castle residents.

  • Pre-Tax Earnings: $1,421 Monthly
  • Average Monthly Payment: $156 (11% of Income)
  • Recommended Car Payment: $114 to $142 (8%-10% of Income)

If you have a low credit score, you’re not alone. This chart depicts how many people in New Castle are in each credit tier.

FICO Score % of Population Residents
300-499 2% 1159
500-549 5% 2896
550-599 8% 4634
600-649 12% 6951
650-699 15% 8689
700-749 18% 10427
750-799 27% 15640
800-850 13% 7530