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Car loans let you make monthly payments on a car or truck that you would not be able to purchase in cash. Most often, the finance company keeps a lien on the car or truck until it is fully paid off. You will need to carry full coverage insurance, and your interest rate will depend largely on your credit score. To hasten the process, you can apply online for your auto loan. Let an auto finance professional in Huntsville help you secure financing, answering your questions in the process.

Auto Loan Rates in Huntsville

The interest rates below are not anything but estimates to give you a feeling for what annual percentage rate can be expected given your location and your FICO score. Your precise rate of interest will be determined by a myriad of factors, which include loan company, down payment, average income, type of loan, etc.

FICO Score New Car Pre-owned Car
Excellent 3.0% 3.4%
Good 4.3% 4.9%
Average 6.0% 7.3%
Subprime 8.7% 9.8%
Bad 13.5% 14.3%
Very Bad 14.0% 16.0%

Used Car Auto Loans in Huntsville

As consumers, we’re continually bombarded by advertising for new cars and trucks. On the other hand, new cars depreciate so quickly, used vehicles are usually a better value. Take a look at the table below, which depicts the different costs associated with auto loans for brand new versus used vehicles.

Age Price Rate Months Payment Interest Total Cost
New $18,400 6.00% 60 $355.72 $2,943 $21,343
1 Year $14,720 7.50% 60 $294.96 $2,978 $17,698
2 Years $12,512 7.50% 60 $250.71 $2,531 $15,043
3 Years $10,635 7.50% 60 $213.11 $2,151 $12,786

For most people, a pre-owned vehicle is the ideal solution. In most cases, you can finance a car that is up to 10 years old. Mileage constraints often apply.

Poor Credit Car Loans in Huntsville

Getting financed with less-than-perfect credit can be an effort, particularly if you are unwilling to pay an excessive rate of interest. In a nutshell, your credit score is used to assess risk. Fortunately, the internet has made it much easier for the bad credit consumer.


In Huntsville, buy here pay here car lots end up catering to consumers in the lower credit tiers The APR rates border on criminal, and the vehicles are likely to be priced higher than they would normally be. You should avoid these dealerships when possible, and secure an auto loan on the web. This is how many individuals get approved nowadays, and it’s considerably less expensive in the end.

Go here to apply online.

No Money Down Cars in Huntsville

Down payments are generally a requirement whenever you finance a car. For those who have top-notch credit, a down payment is usually optional. Not having a down payment increases your rate of interest. When you’ve got first-rate credit, this isn’t so much a concern, as your rate is affordable as is. If you’ve got bad credit, such a high interest loan isn’t advisable. It’s smarter to save up for a down payment or exchange your existing vehicle for equity.

Huntsville Resources

Credit Unions

Credit UnionStreet addressZip CodePhone
Alabama851 John Wright Dr NW35805(256) 824-6518
Alabama4800 Whitesburg Dr S35801(256) 882-3337
Alabama Telco Credit Union2207 University Dr NW35816(256) 533-5076
Community Credit Corporation6241 University Dr NW35806(256) 922-1299
CouncillBuchanan Way35811(256) 372-5379
North Alabama EducatorsPO BOX 12835804(256) 534-2423
North Alabama Educators2100 Sparkman Dr NW35810(256) 852-0408
North Alabama Educators2309 Whitesburg Dr S35801(256) 534-2423
Postal EmployeesPO BOX 13235804(256) 881-2400
Postal Employees220 Wingate Ave SW35801(256) 881-2400
Redstone220 Wynn Dr NW35805(256) 837-6110
Redstone1396 Winchester Rd NE35811(256) 837-6110
Redstone3501 Memorial Pkwy NW35810(256) 837-6110
Redstone11800 Memorial Pkwy SW35803(256) 837-6110
Redstone1430 Weatherly Rd SE35803(256) 837-6110
Redstone3309 S Memorial Pkwy35801(256) 837-6110
Redstone Federal Credit Union650 Wynn Dr NW #22035816(256) 837-6110
Rocket City2401 Triana Blvd SW35805(256) 533-0541
Rocket City Federal Credit Union - Downtown Branch200 Westside Square35801(256) 536-0091