Car Loans in Erie (PA)

Car Loans Erie PA

Don’t go looking for a car loan in Erie, PA…not until you get approved by a local lender. After all, taking out an auto loan is a big commitment, and you want to ensure you do the right thing.

Then again, finding a car loan isn’t a picnic, not in the marketplace today. Not with this recession.

Anxious? You needn’t be! We’re here to help you get pre-approved for the car loan you want. Once you apply online, our advanced data-matching software works to find you the local lender which best suits your needs.

As long as you limit a few different finance applications to only 30-45 days, then multiple credit queries should only count as a single inquiry on your credit profile.

Follow this link to Apply Online!

Planning Your Investment

Did you know that the average income in Pennsylvania is $43,239, while in Erie it’s $13,951? Most lenders recommend that you dedicate not more than 36% of your monthly debt payment, which averages out to $294. If we withhold $60 for Pennsylvania’s monthly insurance costs, we are looking at $234. Make sure you consider these.

  • Mortgage/Rent
  • Credit Card Statements
  • Auto Loans

The size of the Erie, PA car loan this represents will depend on a variety of criteria:

  • Interest Rates
  • How Long You Finance
  • Credit Scores

Auto Financing Erie PA

Erie (PA) Car Loans With Bad Credit

The number of people in Erie, PA, who will need bad credit auto loans to pay for their vehicle is quite shocking. We’re able to provide you some estimates. Keep in mind, a credit score less than 620 will be categorized as bad credit.

Credit Score

# of Erie Residents

  • 300 to 499

  • 500 to 549

  • 550 to 599

  • 600 to 649

  • Total 620 or Below

  • 3,737

  • 9,344

  • 14,950

  • 22,425

  • 56,061

Without a doubt, individuals suffering from subprime credit scores are in need of car financing just the same as people with good credit. This is where we can help.

Apply online for a bad credit auto loan in Erie, PA, and our software works to place your application with a lender who does accomodate 620 credit scores and lower.

Click here to Start Now!

No Cosigner Car Financing in Erie, PA

Even though cosigners usually are not an absolute must, asking a member of family to cosign your car loan could improve your odds of acceptance radically. Bear in mind that cosigning an auto loan is a big responsibility. After all, the person who cosigns is required by law to pay off the loan amount in cases where the first borrower fails to continue making his payments. Therefore, you should be absolutely certain that you can and will pay off the loan yourself prior to asking another person to cosign.

Car Loans, No Money Down

You can get yourself a car loan with no money down in Erie, PA. That said, the real question is this: not can you get auto financing with no down payment, but should you?

Way too many of our nation’s consumers owe more on their vehicles than they are worth. But when you’ve offered a down payment, you will usually be able to sell the vehicle and pay back the amount borrowed. If you need an auto loan with low credit scores in Erie, PA, you might have to offer a payment in advance.

No Credit Check Dealers in Erie, PA: Beware!

Seen all the buy here pay here dealers, which supply in house financing, springing up in Erie and across Pennsylvania? These types of car dealerships focus on men and women with very bad credit, not to mention folks who need auto loans in Erie, PA, after major credit-related catastrophes such as:

  • Bankruptcy
  • Repo
  • Foreclosures

Being approved for a loan from the bank would be extremely difficult for folks who’ve got credit problems along these lines. Erie buy here pay here car lots, meanwhile, will provide them an auto loan, usually without any credit check. The interest levels tend to be expensive, and it’s too easy to become a victim of negative equity on this type of loan. We encourage you to apply online through us before you decide on buy here pay here financing.

Please click here to apply online.

Documents You Will Need

  • Evidence of Income
  • Evidence of Residence
  • Evidence of Car Insurance
  • Vehicle Information
  • Pennsylvania Drivers License

This paperwork is required for car loans in Pennsylvania. That said, it’s best to check with your lender for additional information.