Auto Loans in Bay Shore (NY)

Here at New York Auto Finance, we get you the financing you need in less time, with less hassle. More and more lenders and dealers have whole departments dedicated to web-based approvals, and we can help you line up your loan straight from your computer. The actual application is a breeze, and there’s no obligation to accept the offer you’re given.

Dealers That Take Bad Credit in Bay Shore

Bad credit? Don’t worry. We help you find a dealer to approve you for financing, even if your history of credit is less than perfect. A lot of larger lenders and dealers now have entire departments specifically for something known as “special financing.” Such establishments are commonly called bad credit car dealers. Naturally, we have a wide range of them in our network. Sure, your APR would be lower if you had a credit score of 700 or higher, but that’s to be expected. Let us find you a bad credit car dealer or lender in Bay Shore willing to approve you for a loan – and since we’re reimbursed by the dealers themselves, it’s free! It’s easy. Go here to apply online, and we’ll find you a bad credit auto loan in Bay Shore that will get you behind the wheel.

The chart below depicts an array of loan amounts, given a monthly income of $4,677, the average in Bay Shore. These numbers are just estimates. You may be entitled to a greater or lesser amount, depending on other factors. Contact an auto finance agent for additional information.

Credit History Income Factor Amount
Excellent Credit 10 $46,770
Fair Credit 9 $42,093
Slow Credit 8 $37,416
Bad Credit 7 $32,739
Terrible Credit 6 $32,739

Simply because you’re able to borrow such an amount, doesn’t mean it’s a good idea. A smaller loan is advised, because it will lower the risk of falling past due on payments.

Down Payment: Do You Need One?

We do have lenders in our network who don’t require credit-seekers to provide a down payment. That said, supplying a down payment gives you substantial benefits:

  • Reduces the length of the loan, meaning less paid in interest.
  • Lowers monthly payment.
  • Decreases the risks of an upside down loan.

That said, you no longer need a down payment to apply. Submit your application. We’ll place your application with a dealer or lender willing to fund your loan, no down payment required.

In House Financing Car Dealers in Bay Shore

Virtually all buy here pay here dealerships require a down payment, often a hefty one. Shoppers who cannot secure financing because of major credit problems like bankruptcy often turn to these types of car lots. Sure, the rates are high, but there are a lot fewer roadblocks to approval.

We recommend that you eschew these Bay Shore buy here pay here dealerships in favor of a car loan from a bad credit dealer in Bay Shore offering interest rates that aren’t so high. Submit your application – no minimum credit score required.

Credit and Income: Bay Shore

Banks, dealers, and car loan companies are interested in more than just your credit score. Creditors consider your income, stability, and credit profile.

Listed below are some average statistics for Bay Shore residents.

  • Gross Salary: $56,128 Per Year
  • Average Car Payment: $514 (11% of Income)
  • Suggested Car Payment: $374 to $468 (8%-10% of Income)

Bay Shore Population by Credit Score

If you have less-than-perfect credit, you aren’t the only one. This table depicts the estimated number of Bay Shore residents at each credit tier.

FICO Score % of Population Residents
300-499 2% 1,209
500-549 5% 3,023
550-599 8% 4,837
600-649 12% 7,255
650-699 15% 9,069
700-749 18% 10,883
750-799 27% 16,324
800-850 13% 7,860

Regardless of what your credit rating is, we’re here to help. We work with borrowers of all credit scores and income brackets. That’s our primary goal.