Just below are some questions that are frequently asked about The Car Shoppe and our services. If you have a question that isn't on our FAQ page, feel free to give us a call at (518) 747-1400. We look forward to helping you!
What income types to I need in order to get approved?
Printed pay stubs showing deductions, unemployment, fixed income such as SSI, SSD, and workers compensation.
What can I do if I'm self-employed?
As long as you can prove your income with bank statements showing deposits, or canceled checks that you received, that will work!
Will I need a down payment for my vehicle?
Yes, most people will need some cash down. That is the best way to get the bank comfortable with giving you the rest of the money needed to purchase the vehicle that you desire.
How much of a downpayment am I going to need?
The amount of your down payment is determined by the bank giving you the loan. It's different for every customer and depends on several factors such as credit history, length of employment, and the kind of vehicle you wish to drive. Here, at The Car Shoppe, we will work with you to find the right vehicle, at the right down payment, and the right monthly payment for you.
What if I have a trade-in?
We take trade-ins whether they are running or not! The Car Shoppe will appraise the trade value of your vehicle and apply that towards your down payment. Oftentimes our customers have trades that are worth enough money so they don't need any more cash to get their vehicle!
Can I still get approved if I've had a reposession?
Yes, we will still get you approved for an auto loan.
Can I still get approved even if I've declared for bankruptcy in the past?
Yes! Even if your bankruptcy was discharged yesterday, we will get you approved for a loan.
If I'm currently in a Chapter 13 bankruptcy, can I still get approved?
Yes! There is a form for us to fill out called a "Permission To Incur Debt". After it's filled out, you need to get your attorney to have it signed by the Trustee. The Trustee will sign it (in most cases), and you will be good to go.
I haven't really had credit before, can I still get approved?
As long as you have verifiable income, we will get you approved for a loan!
How much income do I need to prove?
The lowest income we will accept is $800 before the taxes are taken out.
What will my monthly payments end up being?
This varies depending on many factors: What vehicle do you want? How much is your down payment? What's the length of your loan? What's the interest rate? And so on. We will work with you in order to get the payment that fits your budget.
Do I need a co-signer?
If you have income over $800 per month, you do not need a co-signer. However, in some cases, having a co-signer can reduce the down payment that's required by the bank and the monthly payment may end up being lower.
Do I need a bank account?
No, you don't need a bank account. However, if you have one, you can have the payments automatically withdrawn on a weekly, bi-weekly, or monthly schedule. This typically makes it easier to establish good credit.
Will financing for a vehicle at the Car Shoppe help establish my credit?
Yup! The finance companies that we work with report to all 3 of the credit bureaus.
Will my vehicle have a warranty?
Most likely, yes! Over 97% of the vehicles we sold last year had at least a 2 year/24,000 mile warranty.