Do you need a car loan, the sooner the better? We can help. Our industry-leading, statewide network of lenders and dealers is standing by, awaiting your application. Apply online, and we’ll find you a car loan that fits your credit and income.
FICO ratings of 620 or less are often considered subprime or bad credit, but our service is ideally-suited to applicants with problematic credit. If you went from lender to lender, submitting your application, you may get rejected once or twice. However, at Pennsylvania Auto Finance, you can submit just one credit application, and we’ll find a bad credit car dealer in Norristown who can approve your credit. Income is their first concern, not credit score. Generally, loan companies want people with poor credit to have an income of at least $1500 monthly. Fortunately, of our clients get approved the same day they apply. And, keep in mind, making regular payments on an installment loan like this is an excellent way to improve your credit score. So let us find you a dealership who funds car loans for people in Norristown with bad credit. There are no obligations for using our service, and no hassles. Just submit your secure application.
How Much Can I Borrow?
It’s easy to estimate the amount you can borrow. Just multiply your monthly income by the income factor associated with your credit score. We’ve included an example, based on Norristown’s average per capita income: $2,103.
|Credit Score||Income Factor||Loan Amount|
|Temporary Bad Credit||8||$16,824|
|Really Bad Credit||6||$14,721|
Simply because you’re able to borrow this amount, doesn’t mean you should. A smaller loan is a wise idea, because you’ll be able to pay it off faster.
Norristown Auto Loans, No Down Payment?
No down payment? Not a problem. Having said that, a down payment affords you substantial advantages:
- Reduces the length of the loan, meaning you pay less in interest.
- Reduces monthly payment.
- Minimizes the risks of an upside down loan.
That said, you no longer need a down payment to apply. Our application placement system can often find you a dealer or lender who can accept your down payment, or lack of one.
Norristown Buy Here Pay Here Car Lots
Buy here pay here financing is often referred to as:
- Your Job is Your Credit
- We Tote The Note
- Rent to Own
- We Finance
Consumers who cannot get approved for a loan due to seriously bad credit often turn to these types of dealerships. Payments are made to the dealership directly, and the vehicles are normally $10,000 or less.
Norristown Consumer Profile
Dealers and lenders are concerned with more than just your FICO rating. Lenders check your income, employment history, and credit profile.
Here are average stats for Norristown residents.
- Gross Earnings: $25,231 Per Year
- Average Monthly Payment: $231 (11% of Income)
- Suggested Car Payment: $168 to $210 (8%-10% of Income)
Bad credit. It’s fairly common these days in Norristown and across Pennsylvania. The table below depicts the estimated number of Norristown residents at each credit tier.
|FICO Score||% of Population||Residents|
Regardless of where you find yourself on this chart, we can help. We work with consumers of all credit scores and income brackets. That’s our mission.