Auto Loans in Pittsburgh (PA)

Why waste your time driving from lender to lender, trying to get approved? Good credit or bad, we will help you get financed faster. The advantages of our platform are myriad:

  • Apply just once, and put your application in front of multiple dealers
  • Real-time decisions for most borrowers
  • Bad or no credit rarely an issue

When you apply online, we will match you with a Pittsburgh auto loan lender based on variables such as:

  • Your location
  • Your income
  • Your down payment
  • And more!

You could be zipping off to a Penguins or Pirates game behind the wheel of a new car – before you know it! Go here to apply online.

Pittsburgh Auto Loans with Poor Credit

Have you got a credit score of 620 or lower? Less-than-perfect credit is not a problem. If you simply went from lender to lender, submitting your application, you’ll probably be turned down more than once. With our process, you can apply online, and we’ll find a bad credit car dealer in Pittsburgh willing to get you in the driver’s seat, even if you’ve had credit problems in recent years. A down payment and proof of income will typically be expected, but most of our clients are approved nearly instantly. If you have less-than-perfect credit, you’ll probably have your application placed with a bad credit car dealer or auto finance company. Fortunately, they will submit payment data to the credit agencies. This is a prerequisite for rebuilding your credit.

>>Submit Your Application

Estimating how much you can borrow is pretty easy. What you need to do is multiply your monthly income by the income factor that corresponds to the state of your credit. We’ve included such an estimation, based on Pittsburgh’s average per capita income: $1,612.

Credit Income Factor Amount
Great Credit 10 $16,120
Fair Credit 9 $14,508
Subprime Credit 8 $12,896
Bad Credit 7 $11,284
Horrible Credit 6 $11,284

Just because you can borrow this amount, doesn’t mean it’s a good idea. A smaller loan is a wise idea, because it will put less pressure on you in terms of your monthly budget.

How Much Will I Owe at Signing?

auto loan PittsburghWe can help you find dealers who finance people in Pittsburgh who don’t have a down payment. However, supplying a down payment is a smart choice for a number of reasons: it lowers your payment amount, interest, and problems with negative equity. Listed below are the ideal down payments for new and pre-owned vehicles. Ten percent is typically sufficient for a used vehicle, given that it’s already experienced that initial depreciation. Twenty percent is ideal for a used vehicle. Nevertheless, you no longer need a down payment to get pre-approved. Just indicate your down payment amount on your application, and our platform will probably find you a lender or dealer who wants your business, whether or not you have a down payment.

Nearly all buy here pay here dealerships in Pittsburgh – and elsewhere – consider down payments obligatory. Consumers who have been unable to secure a loan because of major credit problems like bankruptcy or repossession often find themselves at these types of dealerships. The rates of interest are typically steep, but they often offer guaranteed credit acceptance. Still, it’s often better to secure a Pittsburgh bad credit auto loan from a lender who will report your payments to the “Big Three” credit bureaus, allowing you to improve your credit as you pay off your as agreed.

Pittsburgh Consumer Profile

Pittsburgh
Pittsburgh Coat of Arms

Contrary to popular belief, there is more to the approval process than just your credit score. Lenders review such things as:

  • Income
  • Employment History
  • History of Payments

The following are average statistics for Pittsburgh residents.

  • Pre-Tax Salary: $19,343 Annually
  • Average Car Payment: $177 (11% of Income)
  • Recommended Monthly Payment: $129 to $161 (8%-10% of Income)

Subprime credit is fairly common in Pittsburgh and across Pennsylvania. This chart depicts the estimated number of Pittsburgh residents at each credit tier.

FICO Score % of Population Residents
300-499 2% 15173
500-549 5% 37933
550-599 8% 60693
600-649 12% 91039
650-699 15% 113799
700-749 18% 136559
750-799 27% 204838
800-850 13% 98626

Your credit rating will largely determine your interest rate. However, if you have sufficient income, we can typically find someone to finance you, even if you have bad credit.