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Are you looking to buy a new or used car in Daytona Beach, and need to finance it? Unfortunately, getting approved for such a loan can be a dreary process, making it super difficult to obtain the car you want. The good thing is, it’s easy to request financing online, saving yourself a great deal of time and effort.

A local finance specialist can direct you step by step through the process, helping you secure an auto loan from a lender near you.

Car Loan Rates in Daytona Beach

Curious about the interest you’ll be charged? In fact, your rate of interest differs widely based on your credit, as well as other variables. The rates shown below are only for informational purposes. They are not advertisements, and your precise rate could deviate widely from what’s displayed below.

FICO Rating New Car Pre-owned Car
Excellent 3.2% 3.3%
Good 4.4% 4.5%
Average 6.1% 6.0%
Subprime 9.0% 9.4%
Bad 13.4% 14.1%
Very Bad 13.8% 15.5%

Used Car Loans in Daytona Beach

Some consumers shy away from used cars and trucks because the interest rates are more expensive. Still, new cars and trucks lose value so quickly, used cars are generally a better value. Consider the table below, illustrating the different costs of auto loans for brand new versus pre-owned vehicles.

Years Old Price Rate Months Payment Interest Total Cost
New $26,500 6.00% 60 $512.32 $4,239 $30,739
1 Year $21,200 7.50% 60 $424.80 $4,288 $25,488
2 Years $18,020 7.50% 60 $361.08 $3,645 $21,665
3 Years $15,317 7.50% 60 $306.92 $3,098 $18,415

You can buy an excellent car for the money if you don’t mind buying used. Most loan companies allow you to finance a used car up to a decade old, sometimes a bit less, and some have a mileage cap of 100,000 miles.

Poor Credit Car Loans in Daytona Beach

Credit score plays an important role in credit approval and annual percentage rate. Simply speaking, your credit score is used to calculate risk. Fortunately, you can now find lenders who specialize in assisting people with less-than-perfect credit.


A lot of people find themselves going to buy here pay here car dealers in Daytona Beach, which don’t even consider a consumer’s credit. The negatives are noteworthy, including ridiculous annual percentage rates and various stipulations. You’ll want to keep away from these car lots when you can, and obtain an auto loan on the web. A traditional lender will report your progress to the credit agencies, which means your credit score will increase as long as you make your payments on time.

Contact an auto finance professional in your area today.

Zero Down Financing in Daytona Beach

Are you aiming to purchase a car or truck with no money down? When you’ve got extremely good credit, a down payment isn’t always required. When you’ve got bad credit, there’s just one main course of action: search for a dealership that welcomes trades, and let your existing vehicle cover the down payment on your new one.

Daytona Beach Resources

Credit Unions


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