Auto Loans in Hixson (TN)

Having your loan pre-approved is one of the best ways to streamline the car-buying process. Our loan-finding system takes the headache out of getting approved. When you apply online, the dealers and lenders in our network compete for your business.

Hixson Bad Credit Auto Loans

Below-average credit is often a roadblock to financing, but not when you apply through us. There are six primary credit tiers in the auto finance industry, and we work with lenders that support each of them. Let us find you a dealer in Hixson that funds loans for people with subprime credit. Apply Now!

Zero Down Payment Deals?

Assuming you have a good credit score, then yes: you can usually get an auto loan with no down payment. Shoppers with credit problems, on the other hand, don’t have it so easy. When dealing with subprime credit, lenders are interested in the Loan-to-Value Ratio, often known as the LTV. This is the amount borrowed versus the wholesale value of the vehicle.

Amount Borrowed Vehicle Value Loan-to-Value
$10,000 $15,000 67%
$12,000 $15,000 80%
$15,000 $17,500 86%
$15,000 $20,000 75%
$17,500 $22,000 79%

The recession had a huge impact on the average LTV for subprime borrowers, but it is climbing as the economy rebounds. The good thing is, as the economy gets better, more dealers and lenders should be able to offer car loans with no down payment.

Simply enter your down payment amount on your application, and our system will find you a dealer or lender who wants to get you in the driver’s seat, whether or not you can put money down.

Hixson Buy Here Pay Here Dealers

Buy here pay here financing is sometimes referred to as:

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

These dealers make credit decisions on-site, rather than outsourcing this to banks or finance companies. The annual percentage rates are typically steep, but they typically offer guaranteed credit acceptance.

Credit and Income: Hixson

Your FICO score is only part of the picture. Lenders evaluate your ability to pay (income), employment history, and history of credit.

Listed here are average statistics for Hixson residents.

  • Average Income: $49,838 Per Annum
  • Average Car Payment: $457 (11% of Income)
  • Recommended Car Payment: $332 to $415 (8%-10% of Income)

Next we have broken down Hixson’s population by credit rating. These estimations should give you an idea of where you stand.

FICO Score % of Population Residents
300-499 2% 744
500-549 5% 1,860
550-599 8% 2,976
600-649 12% 4,464
650-699 15% 5,580
700-749 18% 6,696
750-799 27% 10,045
800-850 13% 4,836

Ready to get going? Go here to apply online.