Buying a car with bad credit has never been this simple. Let’s consider fico scores in Alabama as a whole:
- Average AL FICO Score: 676
- Credit Rating Regarded as “Poor”: under 620
- Number of Individuals with a Low Credit Score: 1,194,934
If you have bad credit, works with companies who offer Alabama bad credit auto loans on a regular basis. Please click here to apply online. If you make $1500 monthly and have got a debt to income ratio of less than 50%, your chances of qualifying are quite good.
Financing a Car with Bad Credit in Alabama
It is essential to budget the right way for your auto loan. After all, you don’t want to make your credit rating worse. This rule of thumb is crucial: don’t allocate above 15% of your income a month toward paying off your auto loan. For the average Alabama consumer, this is equal to $469. Besides that, you should provide the largest down payment possible. New automobiles lose value quickly, and a down payment counteracts this. What kind of car should you finance? Pre-owned. Definitely. Used automobiles will be less perilous in terms of negative equity.
- Your Location
- Your Income
- Your Credit Profile
Applications generally take less than 24 hours to process. Many applicants finance a car the same day they apply.Apply Today