Auto Loans in Hicksville (NY)

How would you like to arrange your financing before setting foot on the dealer lot? You’ve come to the right place. Our extensive network of New York lenders and dealers is standing by, waiting for your application. The actual application is easy to understand, and there’s no fee or obligation.

Hicksville Bad Credit Car Dealers

Below-average credit? Don’t worry. We enable you to find a lender to fund your loan, even when your credit history is sub-standard. There are six principal credit tiers when it comes to auto financing, and we have dealers and lenders that accept applicants in each of them. Sure, your APR won’t be as low as someone with a FICO score of 700 or higher, but that’s just how the financing industry works. Don’t delay. Let us find you a lender or dealer who finances bad credit.

Car Loan Amounts for Hicksville Residents

The table that follows shows a wide array of loan amounts, given a monthly income of $2,602, the average in Hicksville. These numbers are only estimates. You may qualify for more or less, depending on other factors. Talk to an auto finance agent for additional information.

Credit Income Factor Amount Borrowed
Excellent Credit 10 $26,020
Fair Credit 9 $23,418
Subprime Credit 8 $20,816
Bad Credit 7 $18,214
Really Bad Credit 6 $18,214

To calculate your own loan amount, multiply your pre-tax monthly income by the corresponding income factor.

Down payments refer to payments made the day you purchase your vehicle. They are sometimes required of consumers who have a less than ideal history of debt payment. At this stage, the Loan-to-Value ratio becomes a critical factor. This is the amount of the loan versus the wholesale value of the vehicle.

Amount Financed Vehicle Value Loan-to-Value
$10,000 $15,000 67%
$15,000 $17,500 86%
$15,000 $20,000 75%
$17,500 $22,000 79%

Lenders who deal with people with credit problems typically favor lower LTV ratios, because these present less risk. That being said, we get quite a few loan-seekers an approval without a down payment.

Our approval platform will probably be able to help you find a lender or dealer who can work with your down payment, or lack thereof.

How About In-House Financing in Hicksville?

This sort of financing is also referred to as rent to own, in house or no credit check financing. These dealerships specialize in helping people who have been declined by conventional financial institutions. Payments are made to the dealership, sometimes weekly, and the vehicles typically cost $10,000 or less.

It’s usually best to avoid such car lots in favor of an auto loan from a bad credit dealer in Hicksville offering rates that aren’t so exorbitant. Apply now – financing specialists are standing by.

Hicksville-Specific Financial Profile

Contrary to popular belief, there’s more to the approval process than just your credit score. Loan companies evaluate your ability to pay (income), stability, and history of credit.

The following are average statistics for Hicksville residents.

  • Gross Salary: $2,602 Monthly
  • Average Monthly Payment: $286 (11% of Income)
  • Suggested Monthly Payment: $208 to $260 (8%-10% of Income)

Consumer Credit in Hicksville

Here we’ve an overview of Hicksville’s population by credit score. These estimations should give you a sense of where you stand in relation to other consumers in your community.

FICO Score % of Population Residents
300-499 2% 1,445
500-549 5% 3,612
550-599 8% 5,778
600-649 12% 8,668
650-699 15% 10,835
700-749 18% 13,001
750-799 27% 19,502
800-850 13% 9,390

According to our estimations, 25 percent of Hicksville residents have a credit score lower than 649, generally considered subprime. If you’re in one of the lower tiers, fear not. We can still help you get approved.