1. Home
  2. Car Loans

Find the Best Car Loans in Buffalo, NY

Having a car in Buffalo is a necessity unless you live and work near an NFTA stop. Even then, the limited schedule and lengthy waits aren’t practical if you want to have a late dinner in the Chippewa Entertainment District. We researched the best car loan companies in Buffalo to help you get on the road quickly.

Take a Quiz

Get matched with an Accredited Partner

    Compare Top Mortgage Lenders

    #1 MOST POPULAR
    LightStream
    • Deposits funds directly to your account
    • Same-day funding available
    • Visit website for service
    • Available in Buffalo

    Loans for practically anything!

    Location
    Services available in
    Buffalo, NY
    Read More
    #2
    Auto Approve
    • Online loan calculator
    • Application approval in minutes
    • Individual loan consultants
    • Available in Buffalo
    Location
    Services available in
    Buffalo, NY
    (844) 946-7334
    Read More
    #3
    LendingTree
    Overall satisfaction rating
    • Compare rates from multiple lenders
    • Read lender reviews from other consumers
    • Available in Buffalo
    • Use the online auto loan calculator

    This online broker allows consumers and businesses to request and compare customized loan offers from a network of more than 350 lenders, banks and credit partners. The company's lender network offers a wide range of financial products including mortgages.

    Location
    Services available in
    Buffalo, NY
    (800) 555-8733
    Read More
    #4
    myAutoloan.com
    • Interest rate calculator available online
    • Online payment calculator
    • Available in Buffalo
    • Lenders that fit your needs
    Location
    Services available in
    Buffalo, NY
    (214) 540-3350
    Read More
    #5
    Capital One
    • Auto loan calculators available
    • Available in Buffalo
    • Over 12,000 eligible dealers
    • Check the status of your loan online
    Location
    Services available in
    Buffalo, NY
    (877) 383-4802
    Read More
    State Employees Federal Credit Union
    • M-W: 8am - 4:30pm
    • Th-F: 8am - 5pm
    • Closed Sat and Sun
    • sefcu.com/new-car-loan
    Location
    598 Main St.
    Buffalo, NY 14202
    (800) 727-3328
    M&T Bank Corporation
    • M-Th: 9am - 4pm
    • F: 9am - 5pm
    • Closed Sat and Sun
    • mtb.com/mortgages-loans/auto-loans
    Location
    1 Fountain Pl.
    Buffalo, NY 14203
    (716) 848-3303
    Bank of America
    • M-Th: 9am - 4pm
    • F: 9am - 5pm
    • Closed Sun
    • bankofamerica.com
    Location
    1989 South Park Ave.
    Buffalo, NY 14220
    (716) 822-0755
    New York Auto Finance
    • Hours unavailable
    • nyautofinance.com
    Location
    300 International Dr., Ste. 100
    Buffalo, NY 14221
    (716) 261-2748
    Evans Bank
    • M-F: 9am - 5pm
    • Sat: 9am - 1pm
    • Closed Sun
    • evansbank.com
    Location
    925 Elmwood Ave.
    Buffalo, NY 14222
    (716) 882-7788
    Morton Lane Federal Credit Union
    • M-W: 8am - 5pm
    • Th: 8am - 3:30pm
    • F: 8am - 5pm
    • Closed Sat and Sun
    Location
    388 Englewood Ave.
    Buffalo, NY 14223
    (716) 837-2007
    All Credit Car Loans
    • Hours unavailable
    • allcreditcarloans.co/new-york/buffalo
    Location
    Online services only, Serves residents in
    Buffalo, NY
    (877) 427-7779

    How to get an auto loan in Buffalo

    skyline

    While many Buffalo residents will start their search by looking at available cars, it’s often better to be secure a car loan before shopping. You can be pre-approved for a loan from banks, credit unions and online lenders. Getting a pre-approved loan has many benefits, including:

    • Sets a budget: Having your loan in place lets you know how much you can afford and helps you refine your search for a car. Setting a budget is also useful when negotiating the price of a vehicle and prevents you from being pressured into adding features that increase the cost.
    • Saves time at the dealership: Buying a car can be a long, complicated process. Having to negotiate financing at the same time extends the process.
    • Lets you shop at multiple dealers: Unlike a loan arranged through a dealership, pre-approved financing lets you search for cars at multiple dealers in Buffalo and gives you additional options to find the best price.

    Comparing car loans in Buffalo

    The easiest way to compare loans is to look at the overall cost over the life of the loan. This is determined by several factors, including:

  • Interest rate: Lenders generally use credit scores as the primary factor in deciding the interest of your car loan. People with excellent credit score usually receive an annual percentage rate between 3 to 5 percent, while a person with a bad credit history will likely receive loan offers with interest rates between 12 and 18 percent.
  • Term length: Most car loans are paid off over 36 to 72 months. While a term paid off over a longer period will result in lower monthly payments, it will cost more over the life of the loan. Longer-term loans may also come with higher interest rates.
  • Down payment: Those with poor credit may have to make a more substantial down payment. Paying more money upfront will lower the total amount you owe, resulting in lower monthly payments and letting you pay off your loan faster.
  • When looking at used cars in Buffalo, take a look at the price of similar vehicles. Googling the car’s year, make and model will reveal sources for comparison with dealerships. Once you’ve determined the price range of the desired vehicle, you’ll have a realistic picture of the loan amount you will need.

    If you are happy with your car but stuck in a loan with unsatisfying terms, many lenders will refinance your loan. Refinancing can reduce your interest rates, lower your monthly payments or change the length of time left on your loan.

    Getting a car loan with poor credit in Buffalo

    Having poor credit makes getting a car loan in Buffalo more difficult, and you’ll receive less than favorable loan conditions. One way to get a better loan with bad credit is to have a family member or friend co-sign the loan, which means they take responsibility if you default on your loan payments.

    It can be also be challenging to get a car loan if you are going through an active bankruptcy. Talk to your attorney and the judge presiding over your bankruptcy case before applying for any car loans.

    Car Loans Reviews

    LightStream

    LightStream is an online lender that offers car loans and refinancing options. The company will match any qualified rate and can deposit the funds for your car into your bank account on the same day. Buffalo customers appreciate the straightforward application process and competitive rates.

    LightStream

    Auto Approve

    Auto Approve offers refinancing for existing loans. The company assigns you an individual loan consultant who will work with you to find the best options available, and your first payment isn’t due until 45 days after financing. Reviewers from Buffalo praised the company’s customer service and ability to research different rates and terms.

    Auto Approve

    LendingTree

    LendingTree doesn’t directly provide loans but can select up to five lenders based on your criteria to compete for your loan. The company’s website lets you compare the loans side-by-side to make it easier to choose. Customers from Buffalo enjoyed personalized customer service and access to their credit score as part of the application process.

    LendingTree

    myAutoloan.com

    myAutoloan.com is an auto loan broker that provides quotes from up to four lenders. The company offers loans to purchase cars or refinance your current vehicle, and its website has a payment calculator and rate estimator. Buffalo customers appreciated the simple and straightforward application.

    myAutoloan.com

    Capital One

    Capital One is a national bank that offers car loans. Users can pre-qualify online without affecting their credit score, and the site allows customers to browse available cars. Buffalo customers with low credit scores say they were able to get loans through Capital One after being turned down by other lenders.

    Capital One