Auto Loans in Lebanon (TN)

We know that financing a car can be a headache, and we’re here to help. The benefits of our service are significant:

  • Vast Network of Lenders
  • Easy Online Application
  • Zero Fees, No Commitments
  • Zero Down Payment Necessary
  • Good or Bad Credit Approved
  • 1-Hour Financing for Many Applicants
  • Online Status Updates

Here is how the process works:

  1. Apply online.
  2. Check your inbox for your approval status.
  3. If approved, speak with your dealer or lender to finalize your documentation.
  4. Go buy your vehicle.

Sounds simple, right? That’s because it is!

Lebanon Bad Credit Car Loans

Our service is ideal for consumers with low credit scores. If you simply were to go from lender to lender, submitting applications, you might get rejected once or twice. Our process is much more convenient: you can apply just once, and we’ll find a lender who wants to fund your loan, even if your credit is less than perfect. You’ll typically have your application placed with a bad credit dealership or auto finance company. Companies like these report to the credit bureaus, which is imperative when you need to restore your credit. Apply Online!

Should I Offer a Down Payment?

Don’t have a down payment? In many instances, this won’t be an issue. Having said that, providing a down payment affords you significant advantages:

  • Shortens loan, meaning you pay less in interest.
  • Lowers monthly payment.
  • Minimizes negative equity.

Nevertheless, modern day lenders and dealers realize that down payments are hard to come by in this economy. Apply online, and enter a zero in the down payment field. We will match you with a lender who can finance your purchase, no down payment needed.

How About In-House Financing?

This type of financing is also referred to as:

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

These dealers finance consumers who cannot get approved anywhere else due to problematic credit. Of course, the rates are higher, but there aren’t many hurdles to credit acceptance.

Credit and Income: Lebanon

Your FICO score is just part of the equation. Loan companies review such things as:

  • Ability
  • Stability
  • Credit History

Here are average statistics for Lebanon residents.

  • Gross Income: $2,417 Monthly
  • Average Car Payment: $266 (11% of Income)
  • Ideal Car Payment: $193 to $242 (8%-10% of Income)

Next we have an overview of Lebanon’s population by FICO rating. These estimates should give you an idea of where you stand.

FICO Score % of Population Residents
300-499 2% 870
500-549 5% 2,176
550-599 8% 3,481
600-649 12% 5,221
650-699 15% 6,527
700-749 18% 7,832
750-799 27% 11,748
800-850 13% 5,657

Your credit score will have a significant impact on your rate of interest. However, as long as you have the income, we can typically find someone to finance you, even if you have a bad credit score.