Auto Loans in Niagara Falls (NY)

Here at New York Auto Finance, we get you the loan you need in less time, with fewer headaches. Our loan-finding system takes the headache out of getting approved. Apply online, and your finance application will enter our leading-edge placement system. There we will match you to a Niagara Falls auto loan lending company given where you live, your finances, your down payment, and more.

We work with a vast array of lenders and dealers all across Western New York, making our system an excellent option for people with low credit scores. If you simply went from bank to bank, completing applications, you might face at least one or two rejections. We offer a much better solution, in that you can apply from the privacy of your home or office, and we’ll find a bad credit car dealership in Niagara Falls who can approve you for financing. Income is their main concern, not FICO score. A credit check, down payment, and proof of income is often required, as it is for most any installment loan; however, most applicants receive their approval the same day they apply.

Approval Amounts and Down Payments

The chart below shows an array of loan amounts, based on a monthly income of $1,791, the average in Niagara Falls. These amounts are simply estimations. You may be eligible for a greater or lesser amount, depending on other factors. Talk with a vehicle finance agent to learn more.

Credit History Income Factor Sum
Good Credit 10 $17,910
Decent Credit 9 $16,119
Slow Credit 8 $14,328
Poor Credit 7 $12,537
Really Bad Credit 6 $12,537

To see your own loan amount, multiply your monthly income by the appropriate income factor.

Down payments can be paid in cash or via trade-in, and typically cover anything from 5-20% of the vehicle’s sticker price. They are normally required of individuals who have a subpar history of debt payment. As you can imagine, lending to customers with poor credit is a much riskier proposition, and a down payment means that some percentage of the vehicle’s value has been secured. No down payment? We get a lot of clients approval with no down payment. We get people financed everyday, even with issues such as lack of credit or down payment. Apply now!

Buy Here Pay Here Dealerships in Niagara Falls

Virtually all buy here pay here dealers will want you to provide a down payment, often a sizeable one. Consumers who have been unable to secure financing because of serious credit problems often find themselves at dealerships like these. They approve people with problems like bankruptcy or repossession in the last year.

If possible, eschew such dealerships, going instead with an auto loan from a bad credit car dealership in Niagara Falls offering rates that aren’t so penal. Apply now – there’s no fee or obligation.

Niagara Falls-Specific Income, Credit Statistics

Niagara Falls, as a member of the Rust Belt, has felt the impact of the domestic manufacturing decline, with many jobs being outsourced overseas. Many residents and city leaders were hopeful that the new casino downtown would help revitalize the city’s economy, but those hopes have been fully realized. More than half of the population is now dependent on things like welfare and food stamps, and average per capita income is much lower than other parts of the state.

  • Gross Income: $1,791 Per Month
  • Average Car Payment: $197 (11% of Income)
  • Suggested Car Payment: $143 to $179 (8%-10% of Income)

Niagara Falls Population by Credit Score

Ever wondered about the credit scores of your neighbors? We have estimated how many Niagara Falls consumers are in each range of FICO scores.

FICO Score % of Population Residents
300-499 2% 1,453
500-549 5% 3,633
550-599 8% 5,813
600-649 12% 8,720
650-699 15% 10,900
700-749 18% 13,080
750-799 27% 19,619
800-850 13% 9,446

Live in nearby Buffalo? We can serve you too!