The Approval Process

Here’s how our system works.

  • Begin By Applying for Financing. Our application is faster than the competition’s, and we’re able to approve 90% of qualified applicants. When matching you with a lender, our system takes into account where you live, as well as your income and credit score. There’s no minimum credit score required, as we have lenders who support each of the different credit tiers.
  • Speak with Your New York Finance Consultant. You will be contacted by a specialist to go over your unique needs. They will direct you through the rest of the process, and give you more information as far as interest rates and terms. Keep in mind, you are under no obligation to accept this loan.
  • Search for a Vehicle from a Dealer Near You. Now that you’re approved, you can select your new or used vehicle from a dealer locally. Lining up your financing in advance will help streamline the car-buying process, and possibly boost your bargaining leverage.

Why Arrange Your Financing Online?

Veteran car buyers know that pre-approved loans offer quite a few advantages. You can concentrate exclusively on selecting the right vehicle, rather than being worried about whether you’ll be able to secure the funds you need. If you’re approved through a third-party bank or finance company, then it’s like a cash purchase. If you were approved through the dealer, you will be taken a lot more seriously, because they will realize you’re ready to buy.

All things considered, it adds up to a much improved purchasing experience.

New York Auto Loan Rates

A lower APR will translate into lower monthly payments less interest paid in total. It is nearly impossible to estimate your what your actual rate will until you’ve submitted an application. But we have provided the following averages based on our industry experience.

FICO Used Vehicle APR New Vehicle APR
720-850 3.8% 3.5%
690-719 5.6% 4.9%
660-689 7.7% 6.9%

New York Lending Requirements

  • Resident of New York, 18 Years or Older
  • $375 Weekly Income
  • No Repossessions in Last Year
  • Any Bankruptcies Discharged
  • No Private Party Purchases