Get an Auto Loan Quote

Auto Loans in Spring Valley (NY)

Has your credit been turned down in the past? It’s best to find a dealer or lender that can offer you the loan you need at a rate that’s reasonable given your credit. We’re proud to be your avenue to an extensive network of dealers and lenders who are willing to consider your application, even if you have mediocre to below-average credit. An auto finance manager will help you:

  • Compare APR’s.
  • Decide on your bank or finance company.
  • Schedule a time to select your vehicle.

Go here to contact your finance professional.

Auto Loan Spring Valley NY

Spring Valley Car Dealers for Bad Credit

Bad credit doesn’t have to stand in the way of your next car. We work with dealers in Spring Valley that want to get you behind the wheel, regardless of your credit score. In comparison with a buy here pay here car lot, such dealers provide:

  • Less owed on the day of purchase, in terms of money down.
  • More affordable APR rates.
  • Tighter regulation.
  • Option to re-establish your credit.

The dealer will use your credit and income to determine the cars you’ll be able to finance. You should consider a vehicle that won’t stress your finances, having a payment equal to 10% of your income–any higher, and you’re sure to have issues. For people bringing in $4,456 per month, the average in Spring Valley, this would be a payment of $446.

Apply online to have a finance professional confirm how much you can borrow.

Is a New Vehicle Best?

New and used cars each offer their own benefits. Most of the time, a used vehicle is a better deal. The rates of interest on new cars are low, true, but pre-owned vehicles will cost you a lot less.

New Car Pre-owned Car
Years Old 0 3
Price $44,560 $22,280
Down Payment $8,912 $2,228
Interest Rate 5.00% 7.50%
Duration 5 years 4 years
Payment Per Month $672.72 $484.84
Finance Charge $4,715 $3,220
Total Investment $49,275 $25,500

Spring Valley Buy Here Pay Here Financing

The buy here pay here industry would like you to assume that they’re the only ones that will finance you, yet this is seldom the case. It’s true, they do not look at your credit, so your credit problems shouldn’t be a barrier to getting approved, but chances are you will pay too much for this privilege.

The fact is, you should expect inflated annual percentage rates, large down payments, and somewhat battered vehicles that are steeply-priced. If that weren’t enough of an issue, these dealers almost never work with the credit agencies, and that means you could make all of your payments in a timely manner without increasing your credit score.

Creating a Budget for Your New Car

Wouldn’t you like to know how much you should pay for a car? You don’t want to spend much more than 8% of what you make each month on your car payment. For consumers in Spring Valley, who have an average income of $4,456, this is $356.

Excellent Credit Okay Credit Poor Credit
Monthly Income $4,456 $4,456 $4,456
Monthly Installment $356 $356 $356
Loan Rate 3.50% 7.00% 11.00%
Money Down $4,899 $4,501 $4,099
Total Interest $1,793 $3,386 $4,993
Total Paid $26,288 $25,890 $25,488
Sticker Price $24,495 $22,504 $20,494

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