Looking for auto loans in Texas? Here at Auto Loan in Texas, it’s our mission to help you get your credit approved without the inconvenience of a paper application. Best of all, the application costs nothing.
Texas Car Finance Basics
- First off, you will need to submit your secure online application.
- We try and connect you with the best auto loan company in Texas, given your income, down payment, and location.
- Your lender or dealer contacts you directly with an offer, including your APR rate, terms, and vehicle options.
- Should you accept, you can complete your car loan documentation and pick out your car or truck from a local car dealership.
Follow this link to submit your application online.
TX Credit Scores and Income
In the state of Texas, the average annual income is $44,695, while the average credit rating is 651. The better your fico scores, the better your interest rates.
The vast majority of Texas auto loan lenders require that you earn at least $1500 income per month. Also, your total monthly debt, including your auto loan, shouldn’t exceed fifty percent of how much you make per month. In Texas, this comes out to $1,863, on average. Even if your income doesn’t satisfy these prerequisites, you may be able to meet the requirements in one of the following ways:
- Provide a Co-signer
- Provide a Vehicle in Trade
- Furnish More Money Down
- Go with TX Buy Here Pay Here Financing.
We can help you get zero down Texas auto loans. However, down payments are always a good option. What amount will do? Divide the cost of your chosen vehicle by 5 (20%). This is an outstanding down payment. That said, you may be able to get approved with only 10%. For that matter, we know no money down car dealers in Texas. An additional concern is your regular monthly payment. You don’t want to spend more than 18 to 20% of your income for your Texas auto loan. Below are numbers for the average Texas resident.
- $3,725: Income (Monthly)
- $671 to $745: Car Payment
Credit problems? Get more information about Texas auto loans with bad credit in this section.