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Given the price tag of the average new car, it is very tough to obtain a car with no financing. You may elect to arrange a car loan at the time of purchase, but this isn’t always ideal. Rather than spending hours at the dealer or finance company, you can complete an application for a car loan today online.

Let an auto finance expert help you obtain financing, answering your questions at the same time.

Auto Finance Rates in Hartford

Please keep in mind that these rates aren’t advertisements, but estimates at the time of publication. The rate you’re provided may vary substantially from the rates here.

Credit Score New Car Pre-owned Car
Excellent 3.0% 3.3%
Good 4.2% 4.4%
Average 6.8% 7.1%
Subprime 9.8% 9.9%
Bad 13.9% 14.2%
Very Bad NA 14.3%

Used Car Auto Loans in Hartford

Options such as zero percent loans and zero down are available on new cars if you have great credit. Having said that, to put yourself in the best financial position, it’s better to go with a second hand car. The figures speak for themselves.

Age Price Rate Months Payment Interest Total
New $17,200 6.00% 60 $332.52 $2,751 $19,951
1 Year $13,760 7.50% 60 $275.72 $2,783 $16,543
2 Years $11,696 7.50% 60 $234.36 $2,366 $14,062
3 Years $9,942 7.50% 60 $199.21 $2,011 $11,953

The second it leaves the dealership, a new car or truck loses nearly one quarter of its value, and it continues depreciating year after year. A vehicle that cost $17,200 new won’t be worth but $9,942 after 36 months of ownership. Most loan companies will permit you to finance a used vehicle that’s up to a decade old, sometimes a bit less, and some cap the mileage at 100K miles.

Bad Credit Car Loans in Hartford

Credit rating is a major factor when it comes to approval and interest rate. With a FICO score higher than 700, securing an auto loan should be simple, but approval and interest both become concerns at the lower part of the credit ladder. Fortunately, the internet makes it a lot less complicated for the bad credit consumer.

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On-site financing is a second option, available from Hartford’s buy here pay here car lots. The cons are noteworthy: excessive rates and inflexible terms. You will be happier with an auto loan from a bank or credit union–an option through any conventional dealership. There are lots of advantages: improved interest rates, significantly better service. Plus, if you make your payments on time, an improvement to your credit score.

Go here to apply online.

Limiting Your Interest Rate

Are you stressing that your rate will be too expensive? Does your credit report have any mistakes? These can hurt your credit score quite significantly. You can request your credit report for free through this link. Disputing errors is actually pretty simple. You can do it on your own, or solicit one of the credit repair firms that serves Hartford. Providing a bigger down payment or the addition of a cosigner who’s got a favorable credit record could also reduce your interest rate.

Can a Car Loan Improve Your Credit?

When you need to increase your credit score, an auto loan could actually help–so long as you make your payments as arranged. Please understand that this is a slow process. While the actual rise in your credit score is tough to calculate, the improvement is sizeable.

Hartford Resources

Credit Unions

Credit UnionAddressZip CodeTelephone
American EagleUnited Technology Corporation Heliport6103(860) 728-7947
Connecticut State Employees84 Wadsworth St6106(860) 249-4839
Connecticut TransitPO Box 42816147(860) 522-8101
Franklin Trust632 Franklin Ave6114(860) 296-4379
Franklin Trust300 Wethersfield Ave6114(860) 524-5151
Franklin Trust275 Asylum Ave6103(860) 296-4379
Franklin Trust55 Forest St6106(860) 296-4379
Greater Hartford Police50 Jennings Rd6120(860) 522-0899
Hartford964 Asylum Ave6105(860) 527-6663
Hartford244 Trumbull St6103(860) 761-0080
Hartford Courant Emp285 Broad St6105(860) 241-6473
Hartford Firefighters776 Maple Ave6114(860) 246-5236
Hartford Healthcare4 Wethersfield Ave6114(860) 547-0027
Hartford Healthcare85 Jefferson St6106(860) 545-3176
Hartford Municipal Employees443 Franklin Ave6114(860) 722-8110
Hartford Municipal Employees525 Main St6103(860) 722-8110
Hartford Postal Employees141 Weston St6101(860) 529-1234
Metropolitan District EmployeesPO Box 13486143(860) 560-9036
Metropolitan District Employees250 Murphy Rd6114(860) 560-9036
Nutmeg State1 American Row6103(860) 513-5740
Nutmeg State Federal Credit Union40 Brainard Rd6114(860) 520-6510
Nutmeg State Federal Credit Union5 W Service Rd6120(860) 520-6501