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Auto financing makes it possible to shop for a car or truck that you would be unable to purchase in cash. Unfortunately, the process of getting financing can be a major aggravation, especially if your credit isn’t the greatest. We can help you secure your car loan faster, at an affordable rate of interest, even when your credit isn’t great.

You could be in the driver’s seat of a new car in no time flat.

Auto Loan Rates in Phoenix

Many lenders only advertise the most affordable rate they offer, which is only available to people with great credit. The reality is, your interest rate can vary hugely based on your credit, plus a range of other variables. The rates shown below are only for informational purposes. These are not advertisements, and your exact rate could be very different.

FICO Score New Car Pre-owned Car
Excellent 3.4% 3.9%
Good 4.8% 5.7%
Average 6.6% 8.2%
Subprime 9.3% 10.6%
Bad 14.4% 16.7%
Very Bad 17.1% 19.0%

Used Auto Loans in Phoenix

New cars have the most competitive rates of interest. Nevertheless, it’s smart to finance a pre-owned car, as the total price will be significantly less. Consider the chart below, illustrating the costs associated with auto loans for new versus pre-owned vehicles.

Age Price Rate Months Payment Interest Total Cost
New $30,800 6.00% 60 $595.45 $4,927 $35,727
1 Year $24,640 7.50% 60 $493.74 $4,984 $29,624
2 Years $20,944 7.50% 60 $419.67 $4,236 $25,180
3 Years $17,802 7.50% 60 $356.72 $3,601 $21,403

Are you interested in a pre-owned car or truck? Listed below are the typical limits on auto loans for used cars:

  • Car no older than 7-10 years.
  • Mileage no greater than 100,000.
  • Purchased through dealer, not private party.

Bad Credit Car Loans in Phoenix

Getting financed with below-average credit can be quite a job, especially if you don’t want to pay an outrageous rate of interest. Generally speaking, it works like this: the better your credit, the lower your interest rate. Past generations had to go from one dealer to another, in search of one able to offer them a loan. Fortunately, modern innovation has streamlined most of this groundwork.

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If your credit is pretty bad, you may be keen on a car dealership that promotes buy here pay here loans. Clearly, your credit isn’t going to be a concern at this type of place, but you will end up paying a ton in interest for an outdated car or truck.

You should stay away from these dealerships whenever possible, getting an auto loan on the web. This is how the majority of people get approved, and it’s much more economical in the end.

Contact an auto finance professional in your area today.

Can a Car Loan Improve Your Credit?

As time passes, the payments made financing a car can elevate your credit score . It is important to bear in mind that this is a step by step process. Most lenders offer automatic bill-pay, which is crucial for keeping current on your payments.

Phoenix Resources

Credit Unions

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[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Street address,Zip Code,Phone” data=”Aero,21111 N 19th Ave,85027,(602) 436-2408,Aero,3401 E Air Ln,85034,(602) 231-5655,Aero,1944 East Sky Harbor Cir N,85034,(602) 253-6729,Alhambra,7339 N 35th Ave,85051,(602) 246-5120,Arizona,2650 W Ross Dr,85027,(602) 683-1850,Arizona,1505 E Southern Ave,85042,(602) 683-1780,Arizona,12401 N Cave Creek Rd,85022,(602) 683-1530,Arizona,5151 N 19th Ave,85015,(602) 683-1300,Arizona,15625 S 48th St,85048,(602) 683-1480,Arizona,333 N 44th St,85008,(602) 683-1000,Arizona,300 W Jefferson St,85003,(602) 683-1330,Arizona Central,PO BOX 11650,85061,(602) 264-6421,Arizona Central,2020 N Central Ave,85004,(602) 523-8400,Arizona Credit Union League Inc,3611 N Black Canyon Hwy,85015,(602) 264-6701,Arizona Grocers Credit Union,8611 N Black Canyon Hwy,85021,(602) 252-4003,Arizona Heritage,P.O. Box 18290,85005,(602) 258-8669,Arizona Heritage,2402 W Grant St,85009,(602) 258-8669,Arizona Mult Bank,101 N 1st Ave,85003,(602) 643-0030,Arizona State,2355 W Pinnacle Peak Rd,85027,(602) 452-4800,Arizona State,1812 W Monroe St,85007,(602) 452-4800,Arizona State Credit Union,1535 W Jefferson St,85007,(602) 254-1626,Arizona State Savings & Credit Union,1661 E Camelback Rd,85016,(602) 644-4740,Arizona State Savings & Credit Union,20002 N 19th Ave,85027,(602) 644-4760,Arizona State Savings & Credit Union,20022 N 31st Ave,85027,(602) 644-4720,Auto Source,48 N 56th St,85034,(602) 244-1550,Banner,2702 N 3rd St #4010,85004,(602) 254-5291,Banner,1111 E McDowell Rd,85006,(602) 254-5291,Banner,9201 W Thomas Rd,85037,(602) 254-5291,Banner Federal Credit Union,302 E McDowell Rd #105,85004,(602) 254-5291,Bashas’ Associates,1940 W Indian School Rd,85015,(480) 831-0098,Canyon State,3440 W Deer Valley Rd,85027,(623) 580-6000,Canyon State,20227 N 27th Ave,85027,(623) 869-3800,Canyon State,1900 W Thomas Rd,85009,(623) 580-6000,Canyon State,1558 W Jackson St,85007,(623) 580-6000,Canyon State,2440 W Osborn Rd,85015,(623) 580-6000,Chicanos Por La Causa Federal Credit Union,701 S Central Ave,85004,(602) 262-2752,Credit Union West,350 E Dunlap Ave,85020,(623) 218-2223,Deer Valley,15458 N 28th Ave,85053,(602) 375-7300,Deer Valley,16215 N 28th Ave,85053,(602) 375-7300,Deer Valley,3428 W Anthem Way,85086,(602) 375-7300,Desert Schools,148 N 48th St,85034,(602) 433-7000,Desert Schools,3721 E Thomas Rd,85018,(602) 335-4030,Desert Schools,6633 N Black Canyon Hwy,85015,(602) 335-2800,Desert Schools,1825 W Bell Rd,85023,(602) 335-4630,Desert Schools,6145 N 35th Ave,85017,(602) 335-4090,Desert Schools,2500 N 44th St,85008,(602) 335-8320,Desert Schools,4940 E Ray Rd,85044,(602) 335-8080,Desert Schools,7502 W Thomas Rd,85033,(602) 335-7200,Desert Schools,5250 W Indian School Rd,85031,(602) 335-5890,Desert Schools,2501 W Happy Valley Rd #34,85027,(602) 335-4110,Desert Schools,7575 W Lower Buckeye Rd,85043,(602) 335-4020,Desert Schools,4619 E Cactus Rd,85032,(602) 335-5745,Desert Schools,340 E Baseline Rd,85042,(602) 335-4590,Desert Schools,5555 N 7th St #140,85014,(602) 335-5700,Desert Schools,3423 E Bell Rd,85032,(602) 335-5040,Desert Schools,826 E Union Hills Dr,85024,(602) 335-5720,Farmers Insurance Group,16001 N 28th Ave,85053,(800) 877-2345,First,803 E Devonshire Ave,85014,(480) 831-2645,First Corporate Credit Union,2 N Central Ave,85004,(602) 322-2400,First Credit Union,401 W Washington St,85003,(480) 345-2107,Hughes Federal Credit Union,W Lincoln St,85003,(602) 254-4852,Maricopa Santa Fe,8601 N Black Canyon Hwy #105,85021,(602) 266-7781,Marisol,PO Box 20525,85036,(602) 252-6831,Marisol,721 N 3rd St,85004,(602) 252-6831,Marisol,3220 W Gibson Ln,85009,(602) 252-6831,Marisol,2601 E Roosevelt St,85008,(602) 252-6831,Mayo Employees,5777 E Mayo Blvd,85054,(480) 342-2400,Mountain America,3001 W Indian School Rd,85017,(602) 266-3522,Payment Systems Credit Union,20430 N 19th Ave,85027,(623) 308-8000,Shamrock Foods,2926 W Encanto Blvd,85009,(602) 477-6429,Southwest Airlines,2330 E Jones Ave #6,85040,(602) 225-5000,Southwest Airlines Employees Credit Union,2330 E Jones Ave,85040,(602) 225-5000,Southwest Health Care,1640 W Thomas Rd,85015,(602) 274-7592,Southwest Health Care Credit Union,500 E Thomas Rd,85012,(602) 274-7592,Srp Credit Union,221 N 79th Ave,85043,(602) 797-3000,Sunwest,11839 N 28th Dr,85029,(602) 866-1100,Sunwest,302 E McDowell Rd #100,85004,(602) 258-5500,Sunwest Federal Credit Union – Downtown Office,302 E McDowell Rd,85004,(602) 866-1100,Truwest,5136 E Roosevelt St,85008,(602) 629-2600,U-Haul,P.O. Box 21506,85036,(602) 263-6655,United Auto Credit,10240 N 31st Ave #122,85051,(602) 216-9700,United Auto Credit,2400 N Central Ave,85004,(602) 716-0140,United Methodist Federal Credit Union,1550 E Meadowbrook Ave,85014,(602) 277-5325,Vantage West,10440 N 32nd St,85028,(800) 280-3039,Vantage West,200 E Van Buren St,85004,(602) 404-2976,Vantage West,22600 N 19th Ave,85027,(800) 280-3039,Vantage West,3416 N 24th Ln,85015,(602) 385-8390″][/tboot_table]

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