Why finance at Nissan of Stanhope?

We make car financing fast and easy!

We CAN Help!

Even if you have a great credit history and a high credit score, you should examine all your financing options. This is where Nissan of Stanhope can help the most.  We have a full range of lenders waiting to service our customers' credit needs, so we can find the best financing to fit your needs. Sometimes circumstances in life happen and you make decisions that can damage your credit history. Loss of a job, vehicle breakdowns or medical bills that leave you short for a period of time can happen to anyone.

When it is difficult to get a loan and you are having trouble recovering from an unfortunate circumstance or series of circumstances...Nissan of Stanhope gives you a way. Our network of lenders can help you rebuild and also have the reliable transportation you need to get to the back on the road. The Nissan of Stanhope Promise is to always find you the right financing to meet your needs and never obligate you to more than you can afford.

Who can apply

If you are faced with one of the following issues, Nissan of Stanhope can help you rebuild AND drive.

Bankruptcy

We have lenders on standby that can assist if you have completed your Chapter 13 or Chapter 7 Bankruptcy. Even though Bankruptcy may remain on your credit for up to 10 years, the best way to move past this is to re-establish with new credit... and a vehicle loan is one of your best opportunities here. We can help you re-establish once your Bankruptcy is complete and you have received your discharge letter. Or if you have a Bankruptcy in the past and would like to start re-establishing give us a call.

We also work with lenders who specialize in providing loans to clients who still have an open Chapter 13 or Chapter 7 bankruptcy. Please contact us to discuss your options and have the name and contact information for your trustee and bankruptcy lawyer handy.

In the event that you have had a vehicle either voluntary or involuntarily re-possessed, you can get another loan. With many of our lenders, you will be eligible after one year. A handful of lenders will accept 6 months and we have even obtained approvals for shorter time periods. Be warned, however, the size of your down payment will have the most impact on getting a lender to approve your application

Slow Payments

Our lenders know that things come up. In most cases, we can help even if you have slow credit card payments, high balances, charge-offs, medical bills and other less than perfect payment history.

If you are a homeowner and you had some slow payments or you are in a loan modification, in most cases we can help. The lenders understand and want to get you a loan to help keep your budget in place with an affordable payment. Some lenders may request a copy of the new arrangement and will approve you for a new or pre-owned vehicle.

Loan Requirements

The requirements for being considered for an auto approval are not difficult. You must be employed or receiving some sort of regular benefits like disability or social security, be at least 18 years of age and be a United States citizen, registered permanent resident, or current Visa holder.

So apply today! Upon Completion of your application, one of our loan officers will be in touch with you to discuss your particular situation. 


    What to Bring

    It’s the day you have looked forward to – the day you drive off in your new vehicle! We will need to do a little paperwork before you leave – so please double check and make sure you bring everything we’ll need. The process will be quicker and easier.

    We will need:

    Valid Driver's License that is current.
    6 Personal References with name, address, phone number, and relationship.
    Proof of Residency, if applicable, consisting of one or more of the following items in the applicant's name:
    • Telephone or utility bill no more than 30 days old
    • If you’re a Registered Foreign Permanent Resident, make sure you have your ID

                        (Visa, Green Card, I-94, Social Security Card) 

      Proof of Income
      • Pay-stub less than 30 days old and showing year-to-date income
      • 2 years of Tax returns and last 3 months personal bank statements if you are self-employed
      Insurance Information
      • Policy Number, Company, Agent, Agents Address & Phone Number and Expiration dates
      • If you don’t have current auto insurance, please let us know so we can help you obtain a new policy.

      If you do not find your question listed below, don’t hesitate to contact us. We happily respond to every inquiry.

      How much can I get pre-approved for?

      The loan amount that you will get pre-approved for is based on a number of factors. These factors include, but are not limited to income, age and mileage of the vehicle, down payment, and overall credit history. All documents must be reviewed before a true number can be given.

      Will my trade qualify for money down?

      Yes! Additional money, however, may be required if there is a lien on the automobile that you are trading.

      Will inquiries affect my credit rating?

      If you're shopping around for an auto loan or more credit, you should know that when creditors check your credit, it places an inquiry on your credit report. Inquiries can add up, which is often interpreted negatively by creditors. For this reason, too many inquiries can actually make getting an auto loan more difficult.

      Will Cosigners help?

      A Cosigner may be considered for a Buyer who does not comply with all the credit requirements. The income of the Buyer, however, must meet all the income and budget guidelines without reliance upon the income of the Cosigner.

      What are the monthly payments?

      Monthly payments are based on your credit profile and the vehicle you are purchasing. Newer, lower mileage cars generally qualify for extended terms.  Your down payment will also be a factor in your monthly payment.

      What are the interest rates?

      Rates are based on your credit history and the equity position of the loan. We will negotiate the best situation we can based on your credit profile. The higher your credit rating and down payment the lower your rates will be. Also, the model year of the vehicle plays an important role. So, the older the car, the higher the rate.

      I've had a vehicle re-possessed less than a year ago. Can I still pre-qualify?

      A repossession does not disqualify you from getting pre-approved. Our lenders are open to all previous credit issues.

      I've had a bankruptcy. Can I still get pre-approved?

      Yes you can!  Whether you have a discharged bankruptcy or an open one, our lenders can help. Remember, the best way to reestablish your credit after a bankruptcy is by getting a new loan.

      I've never had credit before. Can I get approved for an auto loan?

      Nissan of Stanhope often has several First Time Buyer Programs that are available with our lenders and manufacturers. These programs will help you not only qualify but also, occasionally, reduce the cost of the vehicle

      I've been turned down before. How can Nissan of Stanhope get me approved?

      We have years of experience helping people with a problem get back on track due to the relationships we have built with our lenders. Our process ensures that each application has the best possibility of approval prior to submission.

      Should I find a car first before applying for an auto loan?

      We recommend that you consult with one of our Sales Associates first. They can determine how much you qualify for before you start shopping. This method will increase your chances of approval and decrease the number of inquiries on your credit report. Inquires may have a negative effect on your credit rating.

      For Example:

      You decide to buy a new $40,000 vehicle at a dealership without being approved. The dealer may keep submitting your application until it is approved or the dealer has exhausted all their lender resources. We are not going to wish you into a car loan but prepare a reasonable loan package so you are approved. We need to determine if you qualify for the Armada. If so, your loan package will be submitted. If you don't qualify, we’ll guide you to the best vehicles and financing options that fit your needs, without numerous inquiries showing up on your credit report. Most dealers are trying to sell you the vehicle you want but not doing the due diligence to make sure you can afford the vehicle.

      What are the minimums to qualify?

      There are no minimum qualifications to pre-qualify! Each auto loan application is evaluated based on the credit profile and equity position. 


      Disclaimer

      The foregoing information is for informational purposes only and is not legal advice. Every applicant's credit situation is unique and third party financing approval is not guaranteed. Dealer does not provide financing.