Lowest Used Car Loan Rates
These loans include fixed rates mechanical repair coverage and a simple interest method that allows you to pay less over the length of the loan.
Lowest used car loan rates. Compare different types of auto loans including new and used car loans and auto refinancing options whether youre buying from a dealer or a private seller. Credit scores of 719 for a new car or 655 for a used car or higher will help you qualify for the lowest auto loan interest rates. Vehicle make model and year. See rates for new and used car loans and find auto loan refinance rates from lenders.
Also the older a car is the higher the interest rate offered. In theory there isnt a general minimum credit score required to get a car loan. Auto loans for used cars generally come at higher interest rates. Also make sure when you go to purchase a car you are getting it for the best price by purchasing your car at the best time of the year.
Monthly payments for a 10000 loan at 349 apr with a term of 3 years would result in 36 monthly payments of 29298. Lendingtree helps you compare auto loan rates and loan terms from multiple lenders. Though some automakers have recently extended 0 percent financing to longer term loans for promotions generally speaking. A 5 year fixed rate used car loan for 25000 would have 60 monthly payments of 450 each at an annual percentage rate apr of 299.
Even if your credit score is lower you may still qualify for. Brand new cars generally receive the lowest rates. You can get a car loan even if your score is very low in the 300 to 500 range. But you will be required to provide a substantial down payment and the interest rate can be as high as 19 which is a lot.
A 5 year fixed rate refinance loan for 23000 would have 60 monthly payments of 421 each at an annual percentage rate apr of 369. Suntrust used auto loans offer competitive interest rates and flexible terms. Lenders make up for the inherent risk in offering subprime loans or refinance deals by charging higher interest rates which is why auto refinance rates are often quite high. To that end we researched the best auto loans of 2020 whether youre purchasing or refinancing or if youre a credit union loyalist or an online only type of shopper.
Compare auto loan rates. Its easy to apply and fast to get access to your funds. However ccu requires you to pay a fee of 5 and keep at least that much in a savings account.