Auto Loans in Poughkeepsie (NY)

If you’d like to get approved for a new car or truck, you’ve come to the right place. Our service is fast, safe, and effective. Borrowers with sufficient income have a 90% chance of being approved. Apply online, and your loan application will enter our leading-edge placement system. There we’ll find you the auto loan that fits your credit and income. The finance specialists in our Duchess County network are standing by, waiting to help guide you through the process. We do not charge an application fee, and you are under no obligation to accept the financing terms you’re offered.

Bad Credit Car Loans in Poughkeepsie

A history of bad credit is often a real obstacle when it comes to financing. After all, lenders are primarily concerned with risk. Bad credit equates to high risk, which turns off many lenders – especially old-fashioned ones like banks and some credit unions.

Fortunately, we specialize in helping people with credit problems get financed. The secret is our strength of network. A lot of large lenders and dealers now have entire departments devoted to “special finance.” Such establishments are referred to as “bad credit dealerships” in Poughkeepsie and southeast NY, and we have quite a few of them in our network. Typically, they are most concerned with whether you have sufficient income to take on and repay the loan. For most, this means a gross income of $1500 per month. As for your credit score, they cover the higher risk of lending to people with lower credit scores through higher APR rates. An interest rate north of 10% APR is common for New York borrowers with credit scores of 660 or lower, and down payments are sometimes required. You’ll want to speak with your finance specialist for more details.

Ready to get started? Apply Now!  It takes less than 3 minutes to complete the application.

How Much Can I Borrow?

Estimating how much you can borrow is pretty easy. All you need to do is multiply your monthly income by the income factor associated with your credit score. We’ve included a sample, based on the average income of Poughkeepsie residents: $1,937.

Credit Score Income Factor Sum
Excellent Credit 10 $19,370
Fair Credit 9 $17,433
Subprime Credit 8 $15,496
Poor Credit 7 $13,559
Really Bad Credit 6 $13,559

Again, these are estimates. For a detailed quote, please submit your application.

Zero Down Car Loans in Poughkeepsie?

We do work with lenders who offer financing with zero money down, even for people with bad credit. However, supplying a down payment is a smart choice for a number of reasons: it decreases your monthly payment, the amount of interest paid, and risk of being upside down. The ideal down payment is 20% for a new vehicle, and 10% for a used one.

Still, you don’t need a down payment to submit an application. Submit your application, and indicate that you won’t be putting any money down. We’ll place your application with a lender or dealer willing to approve you for financing, no down payment required.

Buy Here Pay Here Dealers in Poughkeepsie

In Poughkeepsie, buy here pay here auto sales now account for a significant portion of the market, thanks to the financial crisis. These dealerships do on-the-lot financing, rather than outsourcing this to a list of affiliated finance companies. They specialize in helping people with problems like open bankruptcy or repossession in the last 12 months.

Unfortunately, most in house financing car lots can’t help consumers rebuild their credit. Often, it is advisable to apply online, so we can find you a car loan in Poughkeepsie with better rates and terms.

Credit and Income: Poughkeepsie

IBM’s large plant in Poughkeepsie, “The Queen City of the Hudson,” serves as one of the area’s largest employers. The number of high-tech jobs has helped the city’s economy, though much of the workforce has been transitioned elsewhere in recent years. Listed below are average statistics for residents of Poughkeepsie.

  • Pre-Tax Income: $23,246 Per Year
  • Average Monthly Payment: $213 (11% of Income)
  • Ideal Monthly Payment: $155 to $194 (8%-10% of Income)

Poughkeepsie Population by Credit Score

Ever wondered about the credit ratings of your friends and neighbors? We’ve calculated how many Poughkeepsie consumers fall into each range of FICO scores.

FICO Score % of Population Residents
300-499 2% 1,696
500-549 5% 4,240
550-599 8% 6,784
600-649 12% 10,176
650-699 15% 12,720
700-749 18% 15,263
750-799 27% 22,895
800-850 13% 11,024