Auto Loans in Oshkosh (WI)

We understand that financing a car can be a hassle. That’s why we developed our system for online credit acceptance. We have relationships with dealers and lenders in Oshkosh who want to fund your loan – today! Here is how the process works:

  1. Take a minute to submit our secure application.
  2. Sign in to our status center to keep track of your application status.
  3. Have a discussion with your finance agent about your rate of interest and conditions.
  4. Sign your agreement and buy the car you want from a dealer in the area.

Sounds simple, right? It truly is!

Ready to get started? Go here to submit your credit application.

No Down Payment?

Excellent credit? Then you might not have to provide a down payment. If you have a bad credit score, however, your dealer may require you to furnish a payment in advance. Obviously, lending to customers with subprime credit is a much riskier process, and a down payment helps to ensure that some percentage of the vehicle’s value is not at risk. If your credit isn’t perfect, having a down payment can substantially increase your odds of approval. That isn’t to say that dealers don’t offer financing for people with no money down, however.  Apply online, and enter a zero in the down payment section. We’ll do our best to connect you with a lender willing to approve you for financing, no down payment needed.

What About Credit Problems?

Fully one quarter of Oshkosh’s population is believed to have a subprime credit score, otherwise known as bad credit. This does present certain challenges for the applicant. Securing approval is harder, of course, and interest rates are higher. Down payments are often considered necessary, and lending guidelines are stricter. As a consumer, this puts you in a bit of a disadvantaged position. The good news is, we help people with bad credit find a loan each and every day. There are three “bad credit” credit tiers:

  • Tier 3/C: 580-660
  • Tier 4/D: 520-580
  • Tier 5/F: 250-520

The lower your credit tier, the higher your rate of interest will be. Tier 3 borrowers can expect rates in the neighborhood of 7-8% APR. Tier 4 can expect 10-17% APR, and Tier 5 18% APR and higher. Given these high rates, it is imperative that you resist the temptation of a fancy luxury ride and opt for something reliable and affordable. This will keep you payment low – less than one-tenth of your monthly income is best – and help you stay right side up on the loan.

Whatever your score, we have lenders that want to finance your loan. Of course, low credit scores mean higher interest rates, but that just comes with the territory. If you have subprime credit, you’ll typically be matched with a dealer or lender in Oshkosh that finances subprime credit. Typically, they submit payment information to the credit reporting agencies, which is great when you need to improve your credit. Apply Now!

What About Buy Here Pay Here Financing?

Some dealers actually serve as lenders themselves, instead of outsourcing the job, but this type of arrangement isn’t all it’s cracked up to be. Buy here pay here financing is also referred to as:

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

Shoppers who cannot secure financing because of seriously bad credit often resort to these types of dealerships. They may offer guaranteed credit acceptance, but the loan rates are outrageous, as are the down payments and conditions. Many a consumer has ended up in a worse position financially after buying a car off of one of these lots. It’s best to avoid them. Chances are we can help you get approved with better terms, even if  your credit is pretty tarnished.

Oshkosh-Specific Income, Credit Statistics

There is more to the approval process than just your credit score. Lenders evaluate such things as:

  • Ability
  • Job Stability
  • Credit History

Here are some average statistics for Oshkosh residents.

  • Gross Income: $2,208 Monthly
  • Average Car Payment: $243 (11% of Income)
  • Recommended Car Payment: $177 to $221 (8%-10% of Income)

Have you ever wondered about the credit ratings of your neighbors? We have calculated how many Oshkosh consumers fall into each credit tier.

FICO Score % of Population Residents
300-499 2% 1,552
500-549 5% 3,879
550-599 8% 6,207
600-649 12% 9,310
650-699 15% 11,638
700-749 18% 13,965
750-799 27% 20,948
800-850 13% 10,086

Ready to get started? Go here to apply online.