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Virginia Car Loans (VA)

Auto Loans VA
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Are you in the market for a new or used car, truck, or SUV? Are you, like most consumers, hoping to finance your purchase? Fortunately, you’ve come to the right place. Banks, credit unions, and other lending institutions are not approving loans like they used to; you can blame this on the lasting impact of the recession. However, the flip side is that interest rates are as low as they’ve been in years. Really the only hurdle is credit approval. We enable you to secure the auto loan you need, no matter your credit rating. At AutoLoansVirginia.com, we’ve got you covered. You can apply for car financing in as little as 2-3 minutes. If you make more than $375 per week, you have a very good chance of getting approved, even if your credit score has seen better days.

How We Work

  • To begin with, you’ll want to submit a secure online application.
  • We connect you, if possible, with the best bank, credit union, car dealer, or auto finance company in your area, given your needs.
  • When pre-approved, you will be contacted by your prospective lender either by phone or email.
  • Complete your car loan documentation and pick your vehicle from a local dealership.

Visit here to apply online.

Virginia Credit At A Glance

The state’s average income on a monthly basis is $3,833, while the average credit rating is 689. Bear in mind, these are just averages. You don’t have to earn $3,833 monthly to qualify for an auto loan in Virginia.

Most banks and lenders require that you hold a solid job with $1500 income monthly, and your total monthly debt, including your auto loan, shouldn’t surpass fifty percent of your income. In Virginia, this equates to $1,917, on average. Salary or credit score lacking? You might still be able to qualify with a co-buyer, larger down payment, or with buy here pay here car lots in Virginia.

Down Payments: Important

Providing a down payment is important. The truth is, many finance companies will demand that you do so. Divide the price of your preferred car or truck by five (20%). If you can come up with this much, you would be offering an outstanding down payment, but you can probably get away with 10%. In fact, we offer access to no down payment car dealerships in Virginia. You will also want to consider your car payments. You don’t want to devote over 18 to 20% of your income for your car payment. Below are numbers for the average Virginia resident.

  • $3,833: Income (Per Month)
  • $690 to $767: Monthly Payment

Low credit score? Learn more about financing a car with bad credit.