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For many people in Pine Bluff, a car loan is vital to buying a new car or truck. It would be ideal if this was a convenient process, but it really isn’t. Financial institutions ask various questions before choosing to approve you for financing. To speed up the process, you can apply online for your car loan. This is particularly beneficial for individuals who’ve got bad credit, as a range of dealers will review your application, a number of of which specialize in credit problems.

Auto Finance Rates in Pine Bluff

Keep in mind, these rates should not be regarded as advertisements, but instead estimations at the time of publication. Your precise rate of interest could differ substantially from the rates right here.

FICO Score New Car Used 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

Used Car Auto Loans in Pine Bluff

The rates are slightly higher when financing used autos, because they introduce a slightly higher risk of maintenance trouble. Still, it’s better to finance a used car or truck, given that the sum total will be substantially less. Below, we look at the costs of a loan for a vehicle that is brand new versus one, two, or three years old.

Years Old Price APR Months Payment Interest Total
New $31,000 6.00% 60 $599.32 $4,959 $35,959
1 Year $24,800 7.50% 60 $496.94 $5,016 $29,816
2 Years $21,080 7.50% 60 $422.40 $4,264 $25,344
3 Years $17,918 7.50% 60 $359.04 $3,624 $21,542

It is possible to buy a great car for the money if you don’t mind buying it used. Listed below are the most common restrictions on used vehicle financing:

  • Car not more than 7-10 years old.
  • Mileage no more than 100,000 miles.
  • Bought through dealer, not private party.

Poor Credit Car Loans in Pine Bluff

Poor credit has become a huge issue among shoppers in Pine Bluff, and throughout Arkansas. The better your credit score, the greater number of options you’ll have. A couple of decades ago, lenders were few who would supply car loans for individuals with credit problems. Now many loan companies, including some banks and credit unions, have subprime finance teams.

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Buy here pay heredealers are a second option. While you probably won’t have difficulty in terms of approval, it’ll cost you a king’s ransom for the opportunity. Whenever possible, you want to get your car loan through one of the following loan providers:

  • National or regional bank.
  • Credit union you can join.
  • Automobile finance company.

A dealer or auto finance professional can help you obtain financing from one of these lenders. A conventional bank or finance company will report to the credit bureaus, which means your credit score will increase if you make your payments as agreed.

Contact an auto finance professional in your area today.

Minimizing Your Interest

If you need to minimize your interest rate, you’ve got several options. First of all, you’ll want to attend to any inaccuracies on your credit report. Fortunately, you can check your credit annually, free of charge, at annualcreditreport.com.

You can challenge any errors yourself, or hire a company to manage the dispute for you. Providing a bigger down payment or adding a cosigner who’s got solid credit can also reduce your annual percentage rate.

Zero Down Car Loans in Pine Bluff

The cash you need to finance a new car or truck can be as much or even more than the price of a second hand one. When you’ve got fantastic credit, a down payment isn’t always necessary. If you haven’t got great credit, it is better to start setting aside money for a down payment, or else you could wind up paying an excessively high interest rate. That said, when you apply online, there are many loan companies and car dealers that offer 100% financing, even for people who don’t have the greatest credit.

Pine Bluff Resources

Credit Unions

Credit UnionStreet addressZipPhone
Arkansas Am & N College1200 University Dr Mail Slot 496371601(870) 534-1990
Arkansas Am & N College1200 University Dr71601(870) 534-1990
FairfieldP. O. Box 570071611(870) 536-6665
Fairfield3310 S Camden Rd71603(870) 879-9200
Fairfield206 Hwy 81 N71601(870) 536-6665
Pine5100 Jefferson Pkwy71602(870) 247-5100
Pine Bluff Cotton Belt1703 River Pines Dr71601(870) 535-6365
Pine Bluff Postal100 E 8th Ave71601(870) 534-2447