Auto Loans in Liverpool (NY)

If you want to get approved for a new car or truck, we’d be happy to help. We have relationships with dealers and lenders in Liverpool and across New York who want to approve you for financing – right now! Simply apply online, and we’ll start working to get you approved from a dealer or lender who suits your needs.

What About Bad Credit?

If you have a history of bad credit, we’re the perfect solution Special Finance is one of our specialties. There are several main credit tiers when it comes to auto financing, and we have lenders that service each of them. To be sure, your interest rate won’t be as low as someone with a credit score of 700 or higher, which means it’s crucial that you choose an economical vehicle with low payments. If you have bad credit, you’ll typically be approved by a bad credit car dealer or subprime auto finance company. These companies do report to the credit agencies, which is crucial to restoring your credit.

How big of a loan will you be able to secure? That will depend on how much established income you have, together with your credit standing. The following table details the maximum loan amount for people of a variety of credit scores, based on the average monthly income in Liverpool, $2,669. Keep in mind, these are only estimations.

Credit Income Factor Sum
Great Credit 10 $26,690
Decent Credit 9 $24,021
Temporary Bad Credit 8 $21,352
Bad Credit 7 $18,683
Terrible Credit 6 $18,683

To figure out how much you can borrow, multiply your monthly income by the corresponding income factor.

If you’ve got a credit score of 700 or more, then yes: you can typically finance a car without providing a down payment. If you have poor credit, however, your dealer may require you to supply a payment in advance. The reason is simple: such loans represent more risk for the finance company. Non-payment is much more likely, and a down payment means that at least a percentage of the vehicle’s value is not in jeopardy. What’s promising is that, as the automotive market recovers, more lenders and dealers will be approving car loans with no down payment.

Apply online, and enter a zero in the down payment field. We’ll connect you with a lender who can fund your loan, no down payment required.

In House Financing Car Dealers in Liverpool

The majority of buy here pay here car lots consider down payments mandatory. These dealerships approve auto loans directly, rather than relying on banks or lenders. The loan rates are especially steep, but they typically offer guaranteed approval.

Lamentably, most of these dealerships can’t help people improve their credit. More often than not, you would be more satisfied applying online through us, so we can find you a car loan in Liverpool that has lower rates and better terms.

Liverpool Consumer Profile

The following are average statistics for residents of Liverpool.

  • Gross Earnings: $2,669 Monthly
  • Average Monthly Payment: $294 (11% of Income)
  • Ideal Monthly Payment: $214 to $267 (8%-10% of Income)

Liverpool Consumers by Credit Tier

If you’ve got less-than-perfect credit, you’re not alone. This table depicts the estimated number of Liverpool residents at each credit tier.

FICO Score % of Population Residents
300-499 2% 1,061
500-549 5% 2,654
550-599 8% 4,246
600-649 12% 6,369
650-699 15% 7,961
700-749 18% 9,553
750-799 27% 14,330
800-850 13% 6,899

Not where you would like to be when it comes to credit? Don’t worry, we can help nearly any borrower, as long as they have an income of $1500 per month or more, regardless of their credit score.