Auto Loans in Manitowoc (WI)

If you want to get approved for a new car or truck, we can help. We have relationships with lenders and dealers in Manitowoc who want to approve you for financing – this week! When you apply online, your credit application will enter our placement system. There we will find you a lender based on where you live, your income, your down payment, and other factors.

Car Loans for Bad Credit

FICO ratings of 620 or lower are generally deemed subprime or “bad” credit, but our service is just the thing for applicants with less-than-perfect credit.

In fact, we have dealers and lenders in our network who specialize in bad credit car loans. Sure, your APR won’t be as low as someone with a FICO score of 700 or higher, but that just comes with the territory. You’ll typically be approved by a dealer or lender in Manitowoc that finances subprime credit. Companies like these will submit information to the credit reporting agencies, which is great when you need to restore your credit.

Can I Buy a Car with Zero Money Down?

Good credit? If so, you probably won’t need to provide a down payment. However, it’s somewhat more difficult for applicants with low credit scores. At this point, the Loan-to-Value ratio becomes one of the most important factors. Divide the the amount you want by the wholesale value of the vehicle. This is the LTV.

Loan Amount Vehicle Value Loan-to-Value
$10,000 $15,000 67%
$20,000 $25,000 80%
$20,000 $30,000 67%

Lenders who approve people with credit problems often prefer lower LTV’s, because these present less risk. Don’t have a down payment? Don’t worry. We get many clients the loan they need, despite their lack of down payment.

We get people approved each and every day, despite issues with their credit and down payment.

Manitowoc Buy Here Pay Here Financing

In House financing is also known as:

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

These dealers work with people whose credit has been rejected by traditional lenders. The loan rates are steep, but they often offer guaranteed credit acceptance.

Manitowoc-Specific Credit, Income Numbers

Dealers and lenders are concerned with more than just your FICO score. Creditors check your income, history of employment and residence, and history of credit.

The following are average statistics for Manitowoc residents.

  • Pre-Tax Income: $1,681 Monthly
  • Average Car Payment: $185 (11% of Income)
  • Suggested Car Payment: $134 to $168 (8%-10% of Income)

Curious about the credit ratings of your community as a whole? We’ve calculated how many Manitowoc residents are in each credit tier.

FICO Score % of Population Residents
300-499 2% 820
500-549 5% 2,051
550-599 8% 3,282
600-649 12% 4,922
650-699 15% 6,153
700-749 18% 7,384
750-799 27% 11,075
800-850 13% 5,333