My Car Lender
 

Home / Finance / Arkansas Auto Finance / Springdale (AR) Auto Loans

 

Auto financing makes it possible to shop for a vehicle that you couldn’t afford to purchase in cash. You may choose to secure a car loan through the dealership; however, this isn’t always a convenient process. Countless financial professionals recommend lining up your auto loan ahead of time. It’s much simpler to have a local Springdale lending specialist direct you through the approval process. Even better, it takes just a couple of minutes to apply.

Auto Finance Rates in Springdale

Please keep in mind that the rates below are not advertisements, but instead estimates at the time of publication. Your exact interest rate will depend on quite a number of factors, including loan company, down payment, debt-to-income ratio, type of vehicle, and much more.

FICO 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

Used Auto Loans in Springdale

Some buyers avoid second hand cars and trucks because the loan rates are more expensive. That said, a pre-owned car auto loan has all kinds of advantages, such as:

  • Down payment is more affordable.
  • More affordable sticker price.
  • Reduced risk of car poor.

Here, we examine the costs of financing a car or truck that is new versus 1-3 old.

Years Old Price Rate Months Payment Interest Total Cost
New $18,000 6.00% 60 $347.99 $2,879 $20,879
1 Year $14,400 7.50% 60 $288.55 $2,913 $17,313
2 Years $12,240 7.50% 60 $245.26 $2,476 $14,716
3 Years $10,404 7.50% 60 $208.47 $2,104 $12,508

In only one full year on the road, the $18,000 new car is worth only $14,400, and only $10,404 after 36 months. Typically, you can finance a car that’s up to ten years old. Mileage limitations may apply.

Bad Credit Car Loans in Springdale

Most loan companies want buyers with excellent credit scores, as car loans involve quite a lot of money. There’s nothing more humiliating than having your credit declined at the bank or dealership. Before the net, you didn’t have much option but to settle for whatever rate of interest and stipulations they gave you. Today, there are better methods to get approved.

[ad]

In Springdale, buy here pay here car dealerships end up catering to folks with serious credit issues of one variety or another. While you might not have problems getting financed, you’ll pay a king’s ransom for the privilege. Preferably, you’ll want to get your finance package through one of the following lenders:

  • Local bank.
  • Credit union you can join.
  • Automotive finance company.

A dealership or finance specialist can help you get financed through one of these lenders. A traditional lender will report to the credit reporting agencies, meaning your credit score will get better as long as you make your payments as agreed.

Go here to apply online.

No Money Down Cars in Springdale

All too often, people don’t fully grasp that, in the vast majority of cases, you need some cash in the bank to finance a car. In realityIn all honesty, getting an auto loan with no down payment is sometimes hopeless. By applying online, you may maximize your chances of obtaining this kind of a package. Loan companies and dealers can see your preferred down payment in advance. If you leave the down payment field empty, the lending specialist will know what you need.

Springdale Resources

Credit Unions

Credit UnionAddressZip CodeTelephone
661910 S Thompson St72764(918) 336-7662
Western2894 W Sunset Ave72762(877) 254-9328