Auto Loans in Brookline (MA)

Here at Massachusetts Auto Finance, we get our customers approved for financing with no fees, no headaches, and no obligations. The benefits of our platform for Brookline consumers are significant:
Brookline auto loan

  • Extensive Network of Lenders
  • Hassle-Free Online Application
  • Zero Fees or Obligations
  • Low Credit Scores Approved
  • Same Day Financing for Qualified Applicants
  • Approval Status Tracked Online

How The Process Works

  1. Take a few minutes to complete your online application.
  2. Log in to our status center to keep track of your application status.
  3. Once approved, get in touch with your lender or dealer to complete your documentation.
  4. Go buy the car you want from a dealer in the area.

Don’t waste your time going from dealer to dealer, submitting applications, when we can do the legwork for you.

Do you have a FICO score of 620 or less? A bad credit score isn’t a problem. We work with consumers all across the credit spectrum. A down payment, as well as income verification, is often considered necessary for any bad credit auto loan in Brookline; however, most people who apply through us are approved nearly instantly. Don’t delay. Allow us to find you a lender or dealer in Brookline that finance bad credit – online! Apply Online!

How Much Do I Qualify to Finance?

The table below shows you how much you can borrow, given a monthly income of $4,459, the average in Brookline. These amounts are just approximations. You may qualify for a different amount. Contact an auto finance agent for additional information.

Credit Income Factor Sum
Great Credit 10 $44,590
Decent Credit 9 $40,131
Subprime Credit 8 $35,672
Poor Credit 7 $31,213
Really Bad Credit 6 $31,213

Simply because you’re able to borrow a particular amount, doesn’t mean you should. A smaller loan is highly recommended, because it will put less strain on you in terms of your monthly budget. If you have have good credit, you might not need to provide a down payment. Purchasers with credit problems, on the other hand, may need to furnish a down payment. At this stage, the Loan-to-Value ratio becomes important. Divide the amount of the loan by the wholesale value of the vehicle. This is the LTV.

Loan Amount Vehicle Value LTV
$7500 $10,000 75%
$15,000 $17,500 86%
$20,000 $25,000 80%

Most subprime lenders prefer lower LTV ratios. Because the lender doesn’t have as much tied up in the vehicle, they are in a better position if borrower defaults – a serious risk when lending to people with non-ideal credit. That being said, we have companies who approve auto loans with no money down.

In House Financing Car Dealers in Brookline

For those who have gone through a bankruptcy or repossession, you’ve possibly wondered about working with one of the buy here pay here car lots in Brookline. Customers who have been unable to get approved for a loan because of seriously bad credit often end up at these types of car lots. The rates are “stupid” high, of course, but people still go to them because there are so few obstacles to credit acceptance. Unfortunately, these car lots can’t help customers re-establish their credit. In most cases, you would be happier applying online through our website, so we can find you an auto loan in Brookline that can help your credit.

Credit and Income: Brookline

Brookline, a streetcar suburb of Boston, has benefited from a strong economy. The following are average stats for Brookline residents.

  • Average Salary: $53,505 Per Year
  • Average Car Payment: $490 (11% of Income)
  • Ideal Monthly Payment: $357 to $446 (8%-10% of Income)

If you have less-than-perfect credit, you aren’t alone. This table depicts the estimated number of Brookline residents at each credit tier.

FICO Score % of Population Residents
300-499 2% 1,338
500-549 5% 3,345
550-599 8% 5,352
600-649 12% 8,027
650-699 15% 10,034
700-749 18% 12,041
750-799 27% 18,062
800-850 13% 8,696

Your FICO score will have a significant effect on your annual percentage rate. However, if you have sufficient income, we can ordinarily find somebody to finance you, even if you have below-average credit.