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For lots of consumers, financing is the main stumbling block to buying the car they desire. It’s possible to make arrangements for your auto loan on the lot; however, this can be pretty time consuming. Typically, it’s smart to secure your auto loan ahead of time.

A local finance specialist can guide you step by step through the process, helping you get the finance package you need from a finance company you can trust.

Auto Loan Rates in Visalia

Most banks don’t supply auto finance rates based on FICO score. Instead, they advertise the lowest rate they offer. In point of fact, your interest rate can vary hugely based on your FICO score, not to mention other variables. The rates displayed below are only for informational purposes. They’re not advertisements, and your exact rate could be very different.

FICO Rating New Car Pre-owned Car
Excellent 3.2% 3.7%
Good 4.6% 5.7%
Average 6.5% 8.5%
Subprime 9.4% 10.8%
Bad 14.1% 16.5%
Very Bad 15.6% 18.4%

Do you know your FICO score? You should. If you don’t know your credit score, you could pay too much in interest. Go here to check your score.

Used Auto Loans in Visalia

Some shoppers are put off by pre-owned vehicles because they necessitate higher interest financing. Then again, new autos lose value so quickly, used cars are often a better value. Have a look at the table below.

Age Price Rate Months Payment Interest Total
New $20,100 6.00% 60 $388.59 $3,215 $23,315
1 Year $16,080 7.50% 60 $322.21 $3,253 $19,333
2 Years $13,668 7.50% 60 $273.88 $2,765 $16,433
3 Years $11,618 7.50% 60 $232.80 $2,350 $13,968

You can get an excellent car for the money if you aren’t afraid of buying it used. Loan providers charge higher rates of interest for pre-owned cars and trucks, but in many instances, you only need 10% down, and the insurance premiums are less costly.

Bad Credit Auto Loans in Visalia

By and large, banks favor shoppers with prime credit, as car and truck loans involve a lot of money. Many of us are hesitant to check our credit scores, as we’re scared of how bad they may be. Unfortunately, it really is better to know your score. Before the internet, you didn’t have much option but to accept whatever interest rate and stipulations you were presented. Today, there are better methods to get financed.


In Visalia, buy here pay here dealerships end up servicing individuals who’ve got major credit issues of one variety or another. No credit checks come at a price: outrageous annual percentage rates, a lot of conditions and terms, and overpriced vehicles.

If possible, you’ll want to obtain your loan through one of the below loan companies:

  • Bank.
  • Credit union local to you.
  • Automotive loan company.

A dealer or finance expert can help you obtain financing from one of these lenders. The down payments are lower, the same as the annual percentage rates, and the service is commonly much superior.

Contact an auto finance professional in your area today.

Can a Car Loan Improve Your Credit?

With time, the payments made on a car loan can elevate your FICO . There is no direct spike in your FICO score. Rather, it should increase slowly but surely over time. It’s wise to sign up for automatic bill-pay, in order to ensure you never skip any installment payments.

Visalia Resources

Credit Unions

Credit UnionAddressZip CodePhone
Educational Employees3020 N Demaree Rd93291(800) 538-3328
Educational Employees3612 S Mooney Blvd93277(800) 538-3328
TucoemasPO Box 501193278(559) 737-5900
Tucoemas2300 W Whitendale Ave93277(559) 732-8892
Tucoemas5222 W Cypress Ave93277(559) 737-5900
Tulare County5133 W Walnut Ave93277(559) 686-1791
Valley Oak600 W Main St93291(559) 636-3084