Auto Loans in Lowell (MA)

Trying to find the best financing in Lowell? You’ve come to the right place. Each and every lender in Middlesex County has their own approval standards, so it’s crucial that you find one that matches your needs. Apply online, and your credit application will enter our cutting-edge placement platform. There we’ll find you a car loan that’s right for you.

Is Bad Credit an Issue?

Credit score of 620 or less? That is typically considered subprime or “bad credit.” Don’t worry, our system is actually ideal for such borrowers. That’s because, instead of wasting your time applying for financing with multiple lenders, we place your application with a dealer or lender whose approval criteria you already match. This helps you avoid the embarrassment of being turned down for a loan, and it shortens the entire car-buying process by hours. There isn’t a minimum FICO score involved, and we can help applicants who fall fall into any of the lower credit tiers.

Credit Tier FICO Range
Subprime 620-660
Bad Credit 520-620
Very Bad Credit 250-520

If your credit is weak, your interest rate might be higher, but that’s just how the industry works. If you have bad credit, you’ll probably be matched with a bad credit dealership or subprime auto finance company. These types of companies submit information to the credit bureaus, which is a prerequisite for rebuilding your credit. It’s a simple process. Simply apply online, and we’ll find you a bad credit auto loan in Lowell that suits you needs.

FICO Rating and Size of Loan

The table below depicts how much you can borrow, given a monthly income of $2,607, the average in Lowell. These numbers are just estimations. You may qualify for a different amount. Talk with a vehicle finance agent for more information.

Credit Income Factor Loan Amount
Excellent Credit 10 $26,070
Decent Credit 9 $23,463
Temporary Bad Credit 8 $20,856
Bad Credit 7 $18,249
Really Bad Credit 6 $18,249

Keep in mind, these are just approximations. For a detailed quote, you must submit your application.

How Much Will I Owe at Signing?

We can find you dealers who work with people who don’t have a down payment. Having said that, providing a down payment gives you considerable advantages:

  • Shortens loan, meaning less paid in interest.
  • Lowers monthly installment.
  • Decreases the risks of an underwater loan.

That said, you don’t need a down payment to get pre-approved. Submit your application, and enter a zero in the down payment section. We’ll place your application with a lender who can finance your purchase, no down payment required.

No Credit Check Dealers in Lowell

Buy here pay here financing is often referred to as tote the note, your job is your credit, in house or no credit check financing. Consumers who have been unable to secure financing due to serious credit problems often wind up at dealerships like these. The loan rates are typically expensive, but they typically offer guaranteed credit acceptance. Avoid such buy here pay here dealers whenever possible, and go instead with an auto loan from a bad credit dealer in Lowell offering interest rates that aren’t so inflated. Apply today – it’s fast and free.

Credit and Income: Lowell

Located at the confluence of the Merrimack and Concord Rivers, Lowell was one of the birthplaces of the industrial revolution, boasting more cotton mills at the time of the Civil War than the entire Confederacy.  Although this formidable economic strength has not necessarily carried over into the 21st century, the city now has re-invented itself with a greater focus on culture and history.

Here are some average statistics for Lowell residents.

  • Gross Earnings: $2,607 Per Month
  • Average Monthly Payment: $287 (11% of Income)
  • Suggested Monthly Payment: $209 to $261 (8%-10% of Income)

Curious about the credit scores of your neighbors? We have estimated how many Lowell residents are in each credit tier.

FICO Score % of Population Residents
300-499 2% 2,103
500-549 5% 5,258
550-599 8% 8,413
600-649 12% 12,620
650-699 15% 15,775
700-749 18% 18,930
750-799 27% 28,395
800-850 13% 13,672

Your credit rating will largely determine your annual percentage rate, but as long as you have the income, we can often find someone to finance you, even when you need an auto loan in Lowell for bad credit.