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Getting a new vehicle without a loan or lease is pretty rare in today’s market. Whether you’re financed will depend on a wide selection of factors, for example:

  • FICO Score
  • Earnings
  • Location
  • Money Down

Most financial experts advise arranging your auto loan before visiting the dealership, which provides an array of advantages:

  • Fewer hours spent at the car lot.
  • Lower rate of interest.
  • Increased bargaining power.

Lenders and dealers will fight for your business in real time, putting you in the driver’s seat of the financing process.

Car Loan Rates in Gainesville

Curious about the interest you will be charged? In point of fact, your rate of interest can vary widely based on your FICO score, among other variables. The rates shown below are only for informational purposes. These aren’t advertisements, and your precise rate could be very different.

FICO Score 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 Financing in Gainesville

New cars are tempting, no doubt. Still, new cars depreciate so quickly, used vehicles are usually a better investment. Have a look at the chart below, which shows the costs associated with car loans for new versus used vehicles.

Age Price Rate Months Payment Interest Total
New $32,500 6.00% 60 $628.32 $5,199 $37,699
1 Year $26,000 7.50% 60 $520.99 $5,259 $31,259
2 Years $22,100 7.50% 60 $442.84 $4,470 $26,570
3 Years $18,785 7.50% 60 $376.41 $3,800 $22,585

A second hand vehicle is a good option, regardless of whether you’re financing or paying cash. Most loan companies will let you finance a second hand car that’s up to eight years old, and some have a mileage cap of 100K miles.

Poor Credit Car Loans in Gainesville

Credit scores of 680 or less are usually classified as subprime, and those below 620 are simply deemed bad. Simply speaking, loan providers use your credit history as an indicator of how likely you are to repay your loan as agreed. Fortunately, we know of loan providers who specialize in subprime credit situations.


It’s always best to avoid no credit check auto lots. These buy here pay here dealers are infamous for aggressive sales tactics. The negatives are appreciable: outrageous annual percentage rates and rigid terms. Usually, it’s much easier to work with a traditional bank or lender. This is the way the majority of people get approved, and it’s substantially more economical in the long term.

Best of all, you can submit your application online.

Gainesville Credit Restoration

Interest can take up a major part of your payment each month, especially if your credit score isn’t as high as it could be. Repairing any credit report discrepancies can raise your credit score drastically. Many consumers don’t know that, once a year, you can check your credit report at no cost via

Reporting mistakes is fairly easy. You can do it yourself, or enlist one of the credit restoration companies that serves Gainesville. Other ways to minimize your interest rate:

  • Getting a parent or relative to cosign the loan.
  • Providing an increased down payment.
  • Agreeing to shorter loan repayment terms.

Zero Down Auto Loans in Gainesville

Saving up enough cash you need to get a new car is difficult, especially if you’ve got below-average credit, which ordinarily entails a large down payment. Honestly, getting a car loan with no down payment is in some cases extremely hard. If you haven’t got excellent credit, it is best to save for a down payment, or you could find yourself paying an outrageous rate of interest. Nevertheless, when you apply online, there are many brokers and dealers that will offer zero down car deals for people who don’t have the greatest credit.

Gainesville Resources

Credit Unions

Credit UnionLocationZipTelephone
Campus UsaPO Box 14702932614(352) 335-9090
Campus Usa5725 SW 75th St #10732608(352) 335-9090
Campus Usa1200 SW 5th Ave32601(352) 335-9090
Campus Usa1900 SW 34th St32607(352) 335-9090
Campus UsaShands Teaching Hospital32610(352) 335-9090
Campus Usa5115 NW 43rd St32606(352) 335-9090
Campus Usa9200 NW 39th Ave32606(352) 335-9090
First Credit Union Of Gainesville412 E University Ave32601(352) 372-8225
First Credit Union Of Gainesville4280 NW 16th Pl32605(352) 372-8225
FloridaP.O. BOX 554932627(352) 377-4141
Florida2785 SW 91 St #20032608(352) 377-4141
Florida2831 NW 43rd St32606(352) 377-4141
Florida3720 NW 13th St #1032605(352) 377-4141
Florida Healthcare Credit Union720 SW 2nd Ave #10832601(352) 381-0222
Hca916 NW 66 St #532605(352) 333-4760
Hca720 SW 2nd Ave32601(352) 381-0222
Hca916 NW 66 St32605(352) 333-4760
Santa Fe Healthcare Credit Union801 SW 2nd Ave32601(352) 338-2105
SunstatePO BOX 116232602(352) 381-5200
Sunstate405 SE 2nd Pl32601(352) 381-5200
Sunstate6305 SW Archer Rd32608(352) 373-9334
Sunstate1601 SW Archer Rd32608(352) 244-5242
Sunstate2516 NW 43rd St32606(352) 378-2125
Sunstate Federal Credit UnionVa Hospital32601(352) 244-5242
Vystar3616 SW 34th St32608(904) 594-5570