Auto Loans in Malden (MA)

Is it time to finance your new vehicle? If you live in Malden, Massachusetts, you can streamline the process by applying through us. We have been helping the residents of Massachusetts secure financing for years. Our extensive industry relationships, coupled with our secure online application service, puts you in the driver’s seat in as little as 24 hours. Since each lender has their own approval requirements, it’s crucial to find one that matches your needs. We do the legwork for you. Submit your application, and our lenders compete for your business.

Our services are especially beneficial for people with credit problems, as it can take these consumers days, even weeks, to secure financing approval. They often have to apply with lender after lender, dealing with multiple denials before getting the loan they need. With us, however, you can submit just a single application, and we’ll place you with a lender or dealer that offers bad credit auto loans for people in Malden. In minutes, you could be meting out the details of your contract with a finance professional in your area, all without leaving the comfort of your home. Here are the typical requirements:

  • 18 years of age
  • Annual income of $18,000+
  • Down payment of 10-20% recommended
  • Full coverage auto insurance required on financed vehicle

Keep in mind that your credit score will be reflected in your rate of interest, meaning it’s vital that you choose an inexpensive car or truck with low monthly payments. Let us get you approved for financing by a bad credit car dealership in Malden – today! Apply Now!

How Much Am I Eligible to Borrow?

It’s easy to estimate the amount you can borrow. Simply multiply your monthly income by the income factor associated with your credit score. We’ve included a sample, based on Malden’s average per capita income: $3,805.

Credit Income Factor Loan
Good Credit 10 $38,050
Average Credit 9 $34,245
Subprime Credit 8 $30,440
Poor Credit 7 $26,635
Very Bad Credit 6 $26,635

Again, these are simply estimates. For a detailed quote, please submit your application.

Buy Here Pay Here Car Dealers in Malden

If you’ve wondered about working with a buy here pay here dealer in Malden, thanks to bankruptcy or repossession, then keep in mind that a down payment will probably be required. Dealers like these work with consumers that wouldn’t be approved anywhere else due to poor credit. Of course, the interest rates are high, but there are fewer hurdles to approval. It’s usually best to avoid buy here pay here car lots in favor of an auto loan from a bad credit car dealership in Malden that can help you rebuild your credit. Apply now – there isn’t any fee or obligation.

Credit and Income: Malden

The following are average statistics for Malden residents.

  • Gross Salary: $45,654 Per Year
  • Average Car Payment: $419 (11% of Income)
  • Recommended Car Payment: $304 to $381 (8%-10% of Income)

If you’ve got bad credit, you aren’t alone. This table depicts the estimated number of Malden residents at each credit level.

FICO Score % of Population Residents
300-499 2% 1,127
500-549 5% 2,817
550-599 8% 4,507
600-649 12% 6,761
650-699 15% 8,451
700-749 18% 10,141
750-799 27% 15,212
800-850 13% 7,324