Auto Loans in Quincy (MA)

Live in Quincy or Norfolk County?  Need to get approved for financing as soon as possible? You’ve come to the right place! We put you in the hands of dealer or lender who wants to fund your loan at an affordable rate. When you apply online, we place your application with an appropriate lender given factors such as where you live, your finances, your down payment, and more. This keeps you from having to apply again and again, hoping to find a lender willing to approve you at an interest rate you can afford.

How Much Can I Afford to Borrow?

It’s easy to estimate the amount you can borrow. What you need to do is multiply your monthly income by the number that corresponds to the state of your credit. We’ve included a sample, based on Quincy’s average per capita income: $3,076.

Credit Income Factor Sum
Good Credit 10 $30,760
Fair Credit 9 $27,684
Slow Credit 8 $24,608
Poor Credit 7 $21,532
Terrible Credit 6 $21,532

Just because it’s possible to borrow such an amount, doesn’t mean it’s a good idea. A smaller loan is a good idea, because it will be less of a budgetary burden.

Bad Credit Auto Loans in Quincy

QuincyOur services are ideally-suited to consumers with credit problems. In fact, we pride ourselves on having one of the highest industry success rates with applicants who have credit problems.  The secret is our network of Massachusetts banks, dealers, and auto finance companies who finance people at each different credit tier. Whereas most banks only approve people with excellent credit scores, we work with bad credit dealerships and subprime finance companies who service borrowers in these lower tiers. Most loan providers do require borrowers with poor credit to provide a down payment. This is typically 10% for a used vehicle, and 20% for a new one. It is important to keep your car payment low if you have credit problems, as paying off your loan as agreed is a powerful way to rebuild your credit. A car payment that constitutes no more than 5-8% of your monthly income is ideal, as it leaves little risk of missing payments.  We can get you approved by a bad credit car dealer in Quincy – today! Apply Online!

Don’t have a down payment? More often than not, this won’t keep you from getting approved. However, providing a down payment is a good idea for a number of reasons: it lowers your payment per month, the amount of total interest, and problems with negative equity. With that being said, we realize that down payments are hard to come by these days, and many lenders are willing to work with you, especially if you have trade equity.

In House Financing Car Dealers in Quincy

Keep in mind that buy here pay here dealers consider down payments obligatory. Shoppers who have been unable to secure a loan due to major credit problems like bankruptcy often resort to dealerships like these. Everything is paid to the dealership directly, and the cars and trucks for sale are typically less than $10,000. Unfortunately, most buy here pay here dealerships are unable to help buyers improve their credit. Often, you would be more satisfied applying online through us, so we can find you a car loan in Quincy that has better rates and terms.

Credit and Income: Quincy

Quincy, once a powerhouse in granite quarrying and shipbuilding, has since gained prominence in the financial and health care industry. Listed below are average stats for residents of Quincy.

  • Average Salary: $36,915 Annually
  • Average Monthly Payment: $338 (11% of Income)
  • Suggested Monthly Payment: $246 to $308 (8%-10% of Income)

Quincy Population by Credit Score

Here we have divided up Quincy’s population by FICO rating. These estimates should give you a general idea of where you stand.

FICO Score % of Population Residents
300-499 2% 1,761
500-549 5% 4,401
550-599 8% 7,042
600-649 12% 10,563
650-699 15% 13,204
700-749 18% 15,845
750-799 27% 23,767
800-850 13% 11,443

If you’re ready, we can help you get the Quincy bad credit auto loan you need. Click here to submit your application.