At Car Loans in Tennessee, a low credit score is no problem. Let’s look at credit scores in Tennessee as a whole:
- Avg TN FICO Score: 679
- Credit Score Considered “Poor”: 620 or lower
- Number of People with Poor Credit: 1,903,832
If you have bad credit, Car Loans in Tennessee offers access to lenders who supply Tennessee bad credit car loans on a regular basis. Click the link to submit your secure application.
Nearly all loan providers want to see a cash down payment (normally 10%), coupled with a minimum debt-versus-income ratio (a maximum of 1/2 of income dedicated to debt payments every month).
It’s essential to plan the right way for your auto loan. This rule of thumb is essential: never devote more than 15% of your income each month toward paying down your car loan.
- $489: 15% of average income in Tennessee
- $163: 5% for gas, upkeep, etc.
Additionally, you want to supply a large down payment if you can. Sure, we could help you get Tennessee auto financing with no down payment, but these come with a greater risk of becoming upside down. What kind of car should you get? Pre-owned. Unquestionably. Used cars are a safer choice with regards to negative equity.