Auto Loans in Syracuse (NY)

We understand that financing a car in Syracuse can be a hassle. That’s why we developed our loan-matching technology. The advantages of our platform are numerous:

  • Submit an application just once, and have it evaluated by multiple dealers
  • Real-time placement for most candidates
  • Subprime, zero credit seldom a major issue

The application itself is easy to understand, and many consumers get a loan right away. Join the many other consumers in Syracuse and Onandaga County we’ve helped find their way into a new car!

Rebuilding Credit Through Financing

Issues with bad credit? Up to a quarter of Syracuse residents have scores that put them in the category of having “bad credit.” This does make financing more expensive, in the manner of higher interest rates, but it certainly isn’t impossible to secure the auto loan you need.  We’ve spent years building a network of dealers and lenders willing to fund loans for people with credit problems, and our automated system matches your secure application with finance specialists who understand the unique needs of subprime borrowers.

The good news is that you can help rebuild your credit through an auto loan. Specifically, the record of on-time monthly payments you make will gradually increase your FICO score. Of course, these payments must be submitted to the credit bureaus in order to fully take advantage of your hard work.  This bring us to another big advantage of our service.  You will typically be matched with a Syracuse bad credit dealership or auto lender. These companies do submit payment information to the credit agencies – absolutely essential for re-establishing your credit.

FICO Score and Loan Size

Lenders determine how much to lend you through two main variables: your income and credit score. In the table that follows, we’ve displayed loan amounts for people of several different credit tiers, based on an income of $1,531 a month, the average in Syracuse. Please know that these are only estimations.

Credit Score Income Factor Amount
Good Credit 10 $15,310
Fair Credit 9 $13,779
Temporary Bad Credit 8 $12,248
Poor Credit 7 $10,717
Really Bad Credit 6 $10,717

Remember, these are just approximations. For an exact quote, please submit your application. Of course, any down payment you add will increase the price of the vehicle you can afford on top of these numbers. Down payments are payments made the day you sign for your vehicle. They tend to be required of consumers with a less than ideal history of debt payment. That is because lending to consumers with bad credit is a much riskier process, and a down payment helps to ensure that at least a percentage of the vehicle has been paid for in advance. Having said that, there are lenders who approve auto loans with no down payment. Submit your application. We’ll work tirelessly to connect you with a dealer or lender who can approve you for financing, zero down payment required.

No Credit Check Car Lots in Syracuse

Buy here pay here car lots in Syracuse now represent a significant part of the market, mainly thanks to the economic climate. Dealers like these do their own financing, rather than working with third-party finance companies. They work with people with issues like open bankruptcy, foreclosure, or repossession in the last year. However, most buy here pay here car lots can’t help people rebuild their credit. More often than not, you would be more satisfied applying online through us, so we can find you a car loan in Syracuse that can help improve your credit.

Credit and Income: Syracuse

The Syracuse economy has taken a toll in recent years, largely on account of the loss of industrial and manufacturing jobs in the area. The education and service industries now account for the largest stake of the economic pie, but this transition has been tough on the credit and finances of many post-industrial workers. Below are some average stats for residents of Syracuse.

  • Pre-Tax Income: $18,372 Per Year
  • Average Car Payment: $168 (11% of Income)
  • Recommended Monthly Payment: $122 to $153 (8%-10% of Income)

Consumer Credit in Syracuse

Less-than-perfect credit is pretty pervasive in Syracuse and across the state of New York. This table shows the estimated number of Syracuse residents at each level of the credit spectrum.

FICO Score % of Population Residents
300-499 2% 4,632
500-549 5% 11,579
550-599 8% 18,527
600-649 12% 27,790
650-699 15% 34,738
700-749 18% 41,685
750-799 27% 62,528
800-850 13% 30,106