We can help you secure the Kentucky car loan you need, no matter your fico scores. Here at , it’s our mission to help you get in the driver’s seat quickly and painlessly. The application process takes only 3-4 minutes.
Kentucky Auto Financing Basics
- First of all, you will need to submit your application online.
- We will attempt to match you with the best car loan lender in Kentucky, given your location, income, and down payment.
- Finalize your auto loan documents and choose your car from an area dealership.
Follow this link to submit your application online.
KY Credit Scores and Income
The state’s average yearly income is $36,480, while the average credit score is 677. The higher your fico scores, the cheaper your loan rates.
Generally, Kentucky auto loan lenders require that you make no less than $1500 income a month, and your total monthly debt, including your new loan, should not exceed 50% of your wages. In the state of Kentucky, this means $1,520, on average. Even if your income or credit doesn’t satisfy the aforementioned requirements, you might meet the requirements as long as you do at least one of the following:
- Have Someone to Co-sign
- Supply More Money Down
- Go with KY Buy Here Pay Here Loans
In terms of Kentucky auto loans, you’ll want to invest no more than 18-20% of your regular monthly wages for such things as your:
- Car Payments
For your average Kentucky resident, this equals $547 to $608 each month. Investing in excess of this will risk your credit score and finances. With fuel prices going up, it’s best to go with an inexpensive car with great gas mileage. Oftentimes, obtaining a used car auto loan in Kentucky is a good idea. Used cars are much less expensive to finance, and they lose value a lot less rapidly than brand new cars and trucks. Just click here for cheap used cars in Kentucky.