Auto Loans in Westfield (MA)

Need a car loan, the sooner the better? You’ve come to the right place. We have relationships with dealers and lenders in Westfield who want to fund your loan – today! Apply online, and we’ll find you a lending company given where you live, your finances, your down payment, and other factors.

Westfield Bad Credit Dealerships

A bad credit score is rarely a deal-breaker. If you went from bank to bank, submitting your application, you may get turned down more than once. We offer a much better solution, in that you can apply from the privacy of your home or office, and we’ll find a lender in Westfield who can get you in the driver’s seat, even if you’ve had credit problems in the past. Generally, finance companies want people with poor credit to have an income of a minimum of $1500 monthly, but most of our clients get approved within minutes. Let us find a dealer in Westfield who can work with your credit – and because we’re compensated by the dealers directly, it’s free! There are no obligations when you apply through us, and no headaches. Simply apply online, and we’ll go to work finding you a bad credit car loan in Westfield that you can afford.

Factors such as credit and income influence how much you’ll be able to borrow. The following chart displays loan amounts for people of various credit tiers, given an income of $1,895 monthly, the average in Westfield. Don’t forget, these are only estimates.

Credit Score Income Factor Sum
Excellent Credit 10 $18,950
Decent Credit 9 $17,055
Temporary Bad Credit 8 $15,160
Poor Credit 7 $13,265
Horrible Credit 6 $13,265

To determine how much you can borrow, multiply your pre-tax monthly income by the applicable income factor.

Down Payment: Do I Need One?

We can help you find dealers who finance people with no money down. However, a down payment affords you substantial advantages:

  • Reduces the length of the loan, meaning less paid in interest.
  • Decreases monthly installment.
  • Protects you against negative equity.

Nevertheless, we realize that down payments take a lot more time and effort in today’s economic climate. We get consumers approved everyday, even with issues such as lack of credit or down payment.

In House Financing Car Dealers in Westfield

Virtually all buy here pay here car lots consider down payments mandatory. These dealers make credit decisions on-site, instead of outsourcing this to off-site finance companies. They specialize in helping people with issues like open bankruptcy, foreclosure, or repossession on their record.

However, most of these car lots don’t help consumers rebuild their credit. Normally, you would be happier applying online, so we can find you a car loan in Westfield that has better rates and terms.

Westfield-Specific Credit, Income Numbers

Though important, your credit score is just part of the equation. Lenders look at your ability to pay (income), stability, and debt repayment history.

Here are some average stats for residents of Westfield.

  • Pre-Tax Salary: $22,741 Per Annum
  • Average Monthly Payment: $208 (11% of Income)
  • Suggested Monthly Payment: $152 to $190 (8%-10% of Income)

Consumer Credit in Westfield

Bad credit is pretty common these days in Westfield and across the state of Massachusetts. This chart shows the estimated number of Westfield consumers at each level of the credit spectrum.

FICO Score % of Population Residents
300-499 2% 815
500-549 5% 2,036
550-599 8% 3,258
600-649 12% 4,887
650-699 15% 6,109
700-749 18% 7,331
750-799 27% 10,997
800-850 13% 5,295

This shows that approximately 10,997 Westfield residents have a credit score lower than 649, which is generally classified as subprime. If you’re in one of the lower ranges, don’t be concerned. We have lenders who help people in each of these credit tiers.

Whenever you are ready, we can help you get the Westfield bad credit auto loan you need. Go here to submit your application.