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Bad Credit Auto Loans: Massachusetts (MA)

At Auto Loans Massachusetts, a low credit score is not an issue. Listed below are Massachusetts credit scores as a whole:

  • Avg MA FICO Score: 703
  • Credit Rating Viewed as “Poor”: less than 620
  • Number of People with a Low Credit Score: 1,964,289

Nobody likes to get rejected. We may be able to help. Please click here to submit your application online. The majority of loan creditors impose a down payment requirement (normally 10%), coupled with a minimum debt-vs-income ratio (no greater than 1/2 of income being put toward debt payments every month).

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It’s essential to plan appropriately for your auto loan. This rule of thumb is crucial: do not allocate more than 15% of your income each month toward repaying your auto loan.

  • $691: 15% of average income in Massachusetts
  • $230: 5% for gas, routine maintenance, etc.

In addition, you should furnish the largest down payment you can. New cars and trucks depreciate immediately. A down payment counteracts this. Also, we urge you to purchase a budget friendly used car or truck that offers good fuel economy.