Auto Loans in Beloit (WI)

Don’t go driving from one lender to the next, applying for financing. We can get you financed a lot sooner, with fewer hassles. Our vast network of Wisconsin dealers and lenders is standing by, awaiting your application. The actual application is easy to understand, and there is no obligation to accept the offer you’re given.

Credit Scores of 620 or Lower

Bad credit isn’t a problem. There are several principal credit tiers when it comes to auto financing, and we have lenders that accept applicants in each of them. Given your credit, your interest rate might be higher, so it’s important to purchase a cost-effective vehicle with easily-affordable monthly payments. We can find you a bad credit car dealer or lender in Beloit willing to approve you for a loan – online! The process is easy, fast, and hassle-free. Go here to submit your application online.

Beloit Car Loans, No Money Down?

We do work with lenders who offer auto loans with no money down, even for people with credit problems. However, supplying a down payment is a smart choice for a number of reasons: it reduces your payment, total interest, and problems with negative equity. The ideal down payment would be 20% for a new vehicle, and 10% for a pre-owned one.

With that said, you don’t need a down payment to get pre-approved. Apply online, and indicate zero down payment in the appropriate section. We’ll place your application with a lender willing to finance your purchase, no down payment required.

What About In-House Financing?

This sort of financing is sometimes referred to as:

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

These dealers approve people for financing on the lot, instead of relying on banks or finance companies. They approve people with problems like open bankruptcy or repossession on their record.

Beloit Consumer Profile

Lenders are concerned with much more than just your FICO rating. Loan companies consider your ability to pay (income), employment history, and history of repayment.

Here are some average stats for Beloit residents.

  • Average Income: $19,727 Per Year
  • Average Car Payment: $181 (11% of Income)
  • Suggested Car Payment: $132 to $164 (8%-10% of Income)

If you have subprime credit, you’re not alone. This chart shows how many people in Beloit are in each credit level.

FICO Score % of Population Residents
300-499 2% 950
500-549 5% 2,376
550-599 8% 3,801
600-649 12% 5,702
650-699 15% 7,127
700-749 18% 8,552
750-799 27% 12,829
800-850 13% 6,177

Ready to apply for your Beloit auto loan? It’s easy to submit your application.