Auto Loans in Cordova (TN)

Need to get approved for financing as soon as possible? You’ve come to the right place. Our extensive, statewide network of dealers and lenders is standing by, waiting for your application. When you submit your application, the dealers and lenders in our network compete to fund your loan.

Credit Scores of 620 or Lower

Special Finance is one of our areas of expertise. There is no minimum FICO score to worry about, and we can help consumers in all of the subprime credit tiers.

Credit Tier FICO Range
3/C 581-659
4/D 520-580
5/F 250-519

We can find you a bad credit car dealer or lender in Cordova who’s willing to approve you for a loan – and since we’re compensated by the dealers themselves, it’s free! It’s easy. Simply submit your online credit application.

Financing a Car with No Money Down

Assuming you have a favorable credit record, then yes: you can typically finance a car without a down payment. Unfortunately, it’s a bit more complicated for applicants with less-than-perfect credit. This is because financing customers with less-than-perfect credit is a much riskier proposition, and a down payment means that at least a percentage of the vehicle’s value has already been secured. The good news is, as the economy improves, more and more lenders and dealers should be able to offer auto loans with no down payment.

Apply online, and enter a zero in the down payment section. We will place your application with a lender willing to finance your purchase, no down payment needed.

What About In-House Financing?

Buy here pay here financing is commonly known as:

  • We Finance
  • Rent to Own
  • We Tote The Note
  • Your Job is Your Credit

These dealers approve people for financing directly, instead of outsourcing this to banks or lenders. Payments are made to the dealer, often weekly, and the vehicles they sell typically cost less than $10,000.

Cordova Consumer Profile

Your FICO score is only part of the picture. Creditors look at such things as:

  • Ability
  • Employment History
  • History of Payments

Listed here are average stats for residents of Cordova.

  • Gross Income: $1,777 Monthly
  • Average Car Payment: $195 (11% of Income)
  • Ideal Car Payment: $142 to $178 (8%-10% of Income)

Subprime credit is fairly common in Cordova and across the state of Tennessee. The table below shows the estimated number of Cordova residents at each credit level.

FICO Score % of Population Residents
300-499 2% 1,054
500-549 5% 2,636
550-599 8% 4,217
600-649 12% 6,325
650-699 15% 7,907
700-749 18% 9,488
750-799 27% 14,232
800-850 13% 6,852