In the market for auto loans in Alabama? Whether you’re looking for a used car or a new one, we can help you get your credit approved without the headaches of an in-person credit application. You can apply for your Alabama auto loan in as little as 2-3 minutes.
Alabama Car Loan Basics
Wondering how our system works? It’s simple, easy, and there are no obligations.
AL Income and Credit Scores
- Average AL Income: $37,492 Yearly
- Average AL Credit Score: 676
- Number of Autos Registered: 4397974
For the most part, Alabama car loan lenders require that you earn a minimum of $1500 income monthly, and your total monthly debt, including your car loan, should not exceed one half of your income. In Alabama, this comes out to $1,562, on average.
Even when you can’t satisfy these prerequisites, there is a good chance you’ll be able to qualify with a co-buyer, more money down, or via buy here pay here financing in AL.
We can help you get no money down Alabama auto financing. However, down payments are essential. Almost all finance companies will be delighted by an advance payment of 15 to 20%.
Another thing to consider is your monthly payments. Never commit in excess of 18 to 20% of your income for your Alabama car loan. Here are average numbers for Alabama residents.
- Annual Income: $37,492
- Monthly Income: $3,124
- Payment Range: $562-$625
Credit problems? Read more about Alabama car loans for bad credit.