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Car Lots That Work With Poor Credit in Albany, New York

I was talking to a car lending expert the other day, and he provided a few key points for individuals who have bad credit.

Do you know your fico score? Credit scoring can be puzzling. Nearly all lenders in New York grant car loans to shoppers that have favorable credit. When you don’t possess a good credit record, you might need to find a car dealer that deals with bad credit. Scores less than 600 are considered subprime credit.

Given that a lot more Americans have low credit ratings on account of the financial crisis, a growing number of dealerships are starting to accept poor credit.

Many car dealers are approving poor credit in house.

By doing away with the separate car finance company, the car lot is able to expand the range of credit ratings they can accept, in spite of:

  • Bankruptcy
  • Repossession
  • Foreclosure
  • Divorce
  • Unpaid Medical Bills
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Such car dealerships care less about your credit history than your ability to make payments, so they’ll have you demonstrate paystubs. The variety of cars or trucks you can purchase will be decided by your salesperson based on how much:

  • Money You Earn
  • Money Your Debt Is
  • Money Down You Can Offer

Remember, you will often need a down payment.