Missed payments, health care bills, maxed out credit cards – this stuff can devastate your credit scores. No one specializes in bad credit like we do.
To get going, just send us your application, and we will connect you with a finance company or auto dealer specialist who’ll do their best to find you the right vehicle financing package.
Utica Car Dealerships for Bad Credit
Have you thought about where you could buy your next car or truck? When you’ve got less-than-perfect credit, you typically need to buy from a dealership, as opposed to an individual seller, as the majority of lenders don’t offer these types of loans for people who’ve sub-prime credit. Luckily, there are dealers that cater to below-average credit. As opposed to buy here pay here dealers, these larger dealerships offer:
- Interest rates that aren’t excessively high.
- Down payments you can afford.
- New vehicles, not just pre-owned ones.
The dealer will analyze your credit and income to decide the models you qualify to finance. It is wise to opt for a modest, dependable vehicle with payments that amount to just 10% of your income or less. For people earning $740 on a monthly basis, the average among Utica residents, this would be a payment of $74.
Submit your application to have a finance expert confirm your options.
No Money Down Car Loans in Utica
Few people like to spend a big hunk of money at one time, but quite often it’s necessary to offer a down payment on the vehicle you are financing, particularly if you have bad credit. Dealers and lenders want you to provide a down payment, as doing so decreases the risk built into the loan, meaning a lower rate of interest and improved terms.
Zero down car loans are out there, but more commonly they trade in their old car or truck in order to meet the lender’s down payment guidelines.
Buy Here Pay Here Auto Loans in Utica, New York
Buy here pay here car dealers ordinarily help people who’ve got truly serious credit problems like bankruptcy and repossession. In most cases, dealer finance is indirect, in that dealerships go through banks and lenders with whom they have relationships to deliver the loans. In contrast, BHPH dealers engage in direct lending. They make approval decisions in-house, generally without a credit check. Problems with sort of financing include excessively high annual percentage rates and down payments, as well as older vehicles and in-person payments There is a good reason why these car dealers have a dirty track record. We can match you with a reputable dealer who can put you in the driver’s seat, not matter your credit.
Restoring Your Credit in Utica
If you’ve got damaged credit, you’re probably considering ways to restore it. In all actuality, an auto loan is among the easiest ways to restore your credit. By making payments as agreed, you demonstrate to creditors that you’ll be somebody who pays off the money he’s lent.
Payments made late, by contrast, can reduce your FICO score, and in a big way! You shouldn’t ignore the merits of a superior FICO score. It can save you tens of thousands of dollars in the years to come, and all you have to do is pay your bills in full on a monthly basis.