Bad Credit Auto Loans in Westland (MI)

Why waste your time going from lender to lender, trying to get the loan you need? No matter credit, we will help you get the approval you need in less time, with a lot fewer hassles along the way. We work with dealers and lenders in Westland who want to approve you for financing – right now! Simply submit your application, and we’ll start working to get you approved from a dealer or lender who suits your needs.

Below-average credit? Not to worry. We make it easier to get pre-approved for financing, even if your credit history is less than perfect. We have helped consumers with issues such as:

  • Bankruptcy
  • Repossession
  • Foreclosure
  • Collections

Westland MIIssues like these take a bite out of your credit score, but we have relationships with dealers and lenders who are experts in bad credit auto financing. A down payment, as well as proof of income is often expected. Once your application has been placed with a dealer, a finance consultant will get in touch with you to assist in the process, going over such aspects as your rate of interest, down payment, repayment term, and the like. With your financing pre-arranged, you’ll simply go to the dealership and sign your lending agreement, then choose your new car or truck. Most of our clients receive their approval the same day they apply. We can get you approved for financing by a bad credit car dealer in your area – today! Applying is simple, fast, and hassle-free. Just submit your secure application.

Financing Pre-Approval in Westland: How Much?

It’s easy to estimate the amount you can borrow. Just multiply your monthly income by the income factor that corresponds to the state of your credit. We’ve included an example, based on the average income of Westland residents, $3,893.

Credit Income Factor Amount
Great Credit 10 $38,930
Fair Credit 9 $35,037
Slow Credit 8 $31,144
Bad Credit 7 $27,251
Very Bad Credit 6 $23,358

To figure out how much you can borrow, multiply how much money you get paid each month by the corresponding income factor.

Zero Down Car Loans in Westland?

We do have lenders in our network who don’t require borrowers to provide a down payment. However, supplying a down payment affords you considerable advantages:

  • Shortens loan, meaning you pay less in interest.
  • Lowers monthly payment.
  • Protects against the risks of an upside down loan.

Even so, modern day lenders and dealers understand that down payments take a lot more time and effort in this economy. Just enter your down payment amount when you submit your application, and we can often find you a dealer or lender who can work with you, even though you don’t have a down payment.

How About In-House Financing in Westland?

You haven’t considered going to one of the buy here pay here lots in Westland, have you? Don’t. It’s rarely a good idea. This sort of financing is also known as:

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

These dealers finance people that have been declined by conventional loan providers. Payments are made to the dealership directly, and the cars and trucks for sale are typically priced at less than $10,000. They have a terrible reputation for bamboozling customers, and the charge outsized down payments and interest rates on the vehicles in their inventory.

Westland Consumer Profile

Located east of Detroit and just south of Livonia, Westland is a fairly affluent area that hasn’t suffered the same economic troubles as some of its neighbors. This is important because lenders are interested in much more than just your credit score. Loan companies evaluate your ability to pay (income), stability, and credit profile.

Listed below are average statistics for Westland residents.

  • Average Salary: $46,720 Per Year
  • Average Car Payment: $428 (11% of Income)
  • Recommended Car Payment: $311 to $389 (8%-10% of Income)

If you have a low credit score, you’re not the only one. This chart depicts how many people in Westland are in each credit level.

FICO Score % of Population Residents
300-499 2% 2,122
500-549 5% 5,306
550-599 8% 8,490
600-649 12% 12,734
650-699 15% 15,918
700-749 18% 19,101
750-799 27% 28,652
800-850 13% 13,795