Buyers Who Tri-State Will Consider for Loans
Tri-State Credit Corporation finances below-prime loans for applicants who are typically disqualified by conventional lenders. For example, Tri-State will consider loans for auto buyers who:
- Have good credit, but they've "maxed" out their auto financing with conventional lenders.
- Have average to poor credit.
- Have no credit history.
- Are legal immigrants.
- Are on U.S. Visas.
- Have had a bankruptcy or foreclosure.
- Have had minor liens or judgments.
- Are purchasing a vehicle that is more than four years old or has higher mileage.
Guidelines for Loan Approvals
In general, Tri-State will finance up to 100% of NADA retail value on a vehicle if the loan application meets the following guidelines:
| Financing Guidelines | |
|---|---|
| Customer credit score: | 500 or higher |
| Vehicle mileage: | Less than 100,000 miles |
| Vehicle age*: | Less than 10 years old |
| Desired loan terms*: | 12 to 60 months |
| Desired loan amount: | Between $6,000 and $12,000 |
| Required deposit: | 20% down |
*Typically, the loan length is related to the age of the vehicle; though, exceptions may apply.
| Vehicle Age | Financing Term Length |
|---|---|
| 2 years or less: | Up to 60 months |
| 5 years or less: | Up to 48 months |
| 7 years or less: | Up to 42 months |
| 10 years or less: | Up to 36 months |
| Over 10 years: | 12 to 18 months based on mileage; if low mileage, up to 24 months |
In each loan decision, Tri-State will consider the year, make, model and mileage of the vehicle.
Exceptions May Apply
Tri-State won't automatically eliminate an application if it misses certain criteria. Instead, Tri-State's account managers will consider all factors on a case-by-case basis, using common sense to determine whether to provide financing.
Tri-State prides itself on working closely with its dealerships. If you have a loan application that you believe Tri-State should consider that falls outside these guidelines, please contact one of Tri-State's account managers at (856) 262-3390.