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For the majority of Little Rock car-buyers, a car loan is required to purchase a new car or truck. Unfortunately, obtaining such a loan can be a major aggravation, especially if your credit isn’t great. To improve the process, you can submit an application online for financing. This is particularly worthwhile for people who’ve got poor credit, as a selection of dealerships will consider your application, many of which are experts in special finance scenarios.

Car Loan Rates in Little Rock

These rates are for informational purposes only. They are not advertisements. Your exact interest rate will depend on several factors, which include lender, down payment, monthly income, type of vehicle, etc.

Credit Score New Car Pre-owned Car
Excellent 3.0% 3.3%
Good 4.3% 4.7%
Average 7.4% 8.4%
Subprime 12.4% 13.5%
Bad 19.1% 19.6%
Very Bad NA NA

Knowing your FICO score can prevent you from being overcharged. Many loan companies use an auto-specific credit score that’s not available to consumers, but you can go here to check your tri-bureau score–it may help you establish what your interest rate should be.

Used Car Loans in Little Rock

You’ll find that the interest rates for a used car or truck are greater than the rates for a brand new one. However, used vehicles are more economical in the long run, and they depreciate less. Below, we examine the costs of a loan for a car that is new versus one, two, or three years old.

Age Price APR Months Payment Interest Total Cost
New $22,200 6.00% 60 $429.19 $3,551 $25,751
1 Year $17,760 7.50% 60 $355.87 $3,592 $21,352
2 Years $15,096 7.50% 60 $302.49 $3,054 $18,150
3 Years $12,832 7.50% 60 $257.12 $2,596 $15,427

Once it leaves the dealer lot, a new car loses as much as 25% of its value, and it continues depreciating every year. A car or truck that cost $22,200 when new will be worth around $12,832 after 36 months of ownership. Most companies will let you finance a used vehicle that’s up to 10 years old, sometimes a bit less, and some have a mileage cap of 100,000 miles.

Poor Credit Auto Loans in Little Rock

Are you struggling with a FICO rating of less than 620? Improved FICO scores generally lead to decreased rates of interest, but it’s considerably more complex than that. In decades past, companies were few who would fund auto loans for people with bad credit. Now many finance companies, not to mention some banks, have special finance departments.


Many buyers with non-prime credit end up at one of Little Rock’s buy here pay here dealerships. These dealers offer in-house car loans, without credit assessment. The cons are significant, such as extravagant rates of interest and inflexible terms.

Instead, it’s smart to apply for financing online. This is how many individuals get financed, and it’s a lot cheaper over the long haul.

Contact an auto finance professional in your area today.

Minimizing Your Interest

If you would like to minimize your interest rate, you have a number of options. Repairing any credit report discrepancies can boost your credit score a lot. Many people don’t know that, once each year, you can check your credit report for free via Generally, it takes 1-2 months to get any inaccuracies resolved, after which time you may see an improvement in your credit score. Other things that might reduce your interest rate:

  • Getting a parent or relative to cosign the loan.
  • Supplying a larger down payment.
  • Obtaining a new vehicle.

No Down Payment Financing in Little Rock

Down payments are normally a necessity whenever you finance a car. Zero down finance deals, like zero percent financing packages, are typically available only to individuals with outstanding credit. Having no down payment raises your interest rate. If you have excellent credit, this is a smaller concern, as your rate won’t go up that much. If you have less-than-perfect credit, such a high interest loan is never the best idea. You are better off saving money for a down payment, or trading your old vehicle for equity.

Little Rock Resources

Credit Unions

Credit UnionLocationZipTelephone
Ark Credit Union League1023 W Capitol Ave72201(501) 376-6508
Arkansas1221 S Shackleford Rd72211(501) 982-1000
Arkansas1001 W Capitol Ave72201(501) 982-1000
Arkansas2801 S University Ave72204(501) 982-1000
Arkansas Democrat - Gazette123 E Capitol Ave72201(501) 378-3421
Arkansas Education Association1500 W 4th St72201(501) 375-3792
Arkansas Employees306 S Cross St72201(501) 374-8346
Arkansas Employees Federal Credit Union306 South Crossing Street72201(501) 374-8346
Arkansas Farm BureauPO Box 3172203(501) 228-1504
Arkansas TeachersP. O. Box 251872203(501) 375-9250
Arkansas Teachers600 S Chester St72201(501) 375-9250
Arkansas Teachers Credit Union1001 Wright Ave72206(501) 375-9250
Baptist Health9000 Kanis Rd72205(501) 202-2373
Baptist Health9601 I-630 Exit 772205(501) 202-2255
Baptist Health - Federal Credit Union9601 Interstate 630 Exit72205(501) 202-2373
Chartway4001 N Rodney Parham Rd72212(757) 552-1000
College Station Community Development Credit Union4000 Gray Rd72206(501) 490-0646
Cooperative Extension Service2301 S University Ave72204(501) 671-2037
Democrat P & L6401 Lindsey Rd72206(501) 375-5873
Democrat P & L Federal Credit Union902 Cumberland St72202(501) 375-5873
Dillard'SPO Box 333572203(501) 340-2300
Dillard'S1600 Cantrell Rd72201(501) 340-2300
Electric CooperativesP.O. Box 19420872219(501) 570-2396
Electric Cooperatives1 Cooperative Way72209(501) 570-2396
EngineersPO BOX 86772203(501) 324-5538
Engineers700 W Capitol Ave72201(501) 324-5538
L R F D8615 Chicot Rd72209(501) 568-1001
Little Rock Teachers Federal Credit Union100 S Arch St72201(501) 374-7119
Member Service Federal Credit Union7920 Interstate 3072209(501) 565-0179
Southern GasPO BOX 260072203(501) 377-4675
Southern Gas2205 E Roosevelt Rd72206(501) 377-4675
TelcoePO BOX 3420072203(501) 375-5321
Telcoe820 Louisiana St72201(501) 375-5321
Telcoe100 S University Ave72205(501) 375-5321
Truservice CommunityP. O. Box 2563672221(501) 225-3636
Truservice Community11001 Hermitage Rd72211(501) 225-3636
Truservice Community Federal Credit Union1414 N Shackleford Rd72211(501) 225-3636
Uark4301 W Markham St72205(501) 686-6418
United Arkansas8405 Interstate 3072209(501) 565-8500
United Arkansas301 N Shackleford Rd72211(501) 228-3000
Va Hospital4300 W 7th St72205(501) 661-1938