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With cars so expensive these days, it is very hard to buy a vehicle without financing. Typically, the loan company retains a lien on the vehicle until you’ve made all of the payments. You’ll be required to carry comprehensive insurance until the lien is released, and your interest rate will depend largely on your credit score. To streamline the process, you can apply online for your car loan. Enjoy the convenience of having a local Orlando finance expert assist you through the car-buying process. Even better, it takes just two minutes to apply.

Car Loan Rates in Orlando

The majority of banks only advertise the best rate they offer, which is only available to folks with superior credit scores. In fact, your interest rate varies widely based on your credit, as well as a variety of other variables. The rates shown below are only for informational purposes. These are not advertisements, and your precise rate could deviate greatly from what’s seen below.

FICO Rating New Car Used 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 Auto Loans in Orlando

Options like zero percent finance and no down payment can be found on new cars for people with excellent credit. However, pre-owned cars are cheaper over the long haul, and they don’t lose value so fast. Consider the numbers below.

Years Old Price Rate Months Payment Interest Total
New $29,200 6.00% 60 $564.52 $4,671 $33,871
1 Year $23,360 7.50% 60 $468.09 $4,725 $28,085
2 Years $19,856 7.50% 60 $397.87 $4,016 $23,872
3 Years $16,878 7.50% 60 $338.19 $3,414 $20,292

The moment it leaves the dealer lot, a new vehicle loses up to 25% of its value, and it keeps dropping a significant slice of its value every year. A car that cost $29,200 when new will only be worth $16,878 after 36 months of ownership. Listed below are the most popular restrictions on used vehicle financing:

  • Vehicle not more than 7-10 years old.
  • Mileage no higher than 100,000.
  • Bought via dealer, not private party.

Bad Credit Car Loans in Orlando

Are you wanting to finance a car from a dealer in Orlando, despite below-average credit? Improved credit scores typically result in cheaper rates, but there are a good many other variables in play. Fortunately, the internet has made it a lot less complicated for the bad credit borrower.

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Of course, you’ve got to be careful of deceptive finance companies. This is especially the truth if you choose to work with a buy here pay here car lot. While you probably won’t have problems in terms of approval, you’ll get taxed handsomely for the privilege. Instead, we recommend that you look for the loan you need on the web. The down payments are lower, as well as the rates of interest, and the service is typically noticeably better.

Go here to apply online.

Can a Car Loan Improve Your Credit?

Over time, the payments made financing a car can improve your FICO . If you opt to work with a BHPH dealer, you will not have this ability. While the actual rise in your credit score isn’t easy to calculate, the improvement is significant.

Orlando Resources

Credit Unions

Credit UnionLocationZip CodeTelephone
Anheuser-Busch Employees7007 Sea World Dr32821(407) 370-2406
Central Florida Educators1823 N Alafaya Trail32826(407) 896-9411
Central Florida Educators4601 Silver Star Rd32808(407) 896-9411
Central Florida Educators1200 Weber St32803(407) 896-9411
Central Florida Educators5301 S Orange Ave32809(407) 896-9411
Central Florida Educators5990 Metrowest Blvd32811(407) 896-9411
Central Florida Postal301 E Michigan St32806(407) 425-2561
Central Florida Postal10401 Post Office Blvd32827(407) 816-9941
Credit Union Service Center6574 Old Winter Garden Rd32835(407) 299-4107
Darden Employees614 Virginia Dr32803(407) 650-5050
Ecu8201 Chancellor Dr32809(800) 382-2400
Fairwinds135 W Central Blvd #122032801(407) 277-6030
Fairwinds12800 Tanja King Blvd32828(407) 277-6030
Fairwinds1801 Prospect Ave32814(407) 277-6030
Fairwinds6329 W Colonial Dr32818(407) 277-6030
Fairwinds1000 Universal Studios Plaza32819(407) 277-6030
Fairwinds3133 N Alafaya Trail32826(407) 277-6030
Fairwinds7037 Narcoossee Rd32822(407) 277-6030
Fairwinds7541 W Sand Lake Rd32819(407) 277-6030
Fairwinds2375 S Semoran Blvd32822(407) 277-6030
Fairwinds2475 W Sand Lake Rd32809(407) 277-6030
Fairwinds1402 Edgewater Dr32804(407) 277-6030
Fairwinds135 W Central Blvd32801(407) 277-6030
Fairwinds5875 Arnold Palmer Dr32835(407) 277-6030
Fairwinds Federal Credit Union2500 S Kirkman Rd32811(407) 206-9560
First Florida3724 Edgewater Dr32804(407) 523-4600
Florida Episcopal1017 E Robinson St32801(407) 423-3189
Florida Hospital601 E Rollins St32803(407) 303-1527
Florida Hospital7727 Lake Underhill Rd32822(407) 303-6763
Greenwood Credit Union10501 Demilo Pl32836(407) 239-9100
Gte Federal Credit Union4201 W Colonial Dr32808(407) 293-2405
Insight480 S Keller Rd32810(407) 426-6000
Insight7600 Chancellor Dr32809(407) 426-6000
Insight206 Hillcrest St32801(407) 426-6000
Kennedy Space CenterMFF Building Rm #10232899(321) 455-9420
Kennedy Space CenterO&E Bldg Rm111732899(321) 730-0039
Kennedy Space CenterHeadquarters Bldg. Rm. 124332899(321) 455-9410
Local 606 Electrical Workers820 Virginia Dr32803(407) 896-4733
Martin1727 Orlando Central Pkwy32809(407) 857-6328
Martin5600 W Sand Lake Rd32819(407) 857-6328
Martin11411 Lake Underhill Rd32825(407) 857-6328
Martin12506 Lake Underhill Rd32825(407) 857-6328
MccoyPO Box 59380632859(407) 855-5452
Mccoy2075 Central Florida Pkwy32837(407) 855-5452
Mccoy1900 McCoy Rd32809(407) 855-5452
Mccoy502 S Chickasaw Trail32825(407) 855-5452
Mccoy5620 L B McLeod Rd32811(407) 855-5452
Mccoy5757 Curry Ford Rd32822(407) 855-5452
Mccoy77 W Underwood St32806(407) 855-5452
Mccoy9161 Narcoossee Rd32832(407) 855-5452
Mccoy5201 Raymond St32814(407) 855-5452
Mccoy35 W Michigan St32806(407) 855-5452
Orlando1117 S Westmoreland Dr32805(407) 835-3500
Orlando2500 W Colonial Dr32804(407) 835-3500
Orlando2150 S Semoran Blvd32822(407) 835-3500
Orlando4500 S John Young Pkwy32839(407) 835-3500
Orlando400 S Orange Ave32801(407) 835-3500
Orlando753 N Alafaya Trail32828(407) 835-3500
Orlando7455 W Colonial Dr32818(407) 299-4250
Orlando300 E Church St32801(407) 835-3500
Partners13705 International Dr S32837(407) 354-5113
Platinum7031 Grand National Dr #10832819(407) 226-0720
Platinum Federal Credit Union7031 Grand National Dr32819(407) 226-0720
Premier Inc4741 Lonsdale Cir32817(407) 673-3179
Trugrocer3305 Lake Breeze Dr32808(407) 292-2006
Ucf12253 Challenger Pkwy32826(407) 249-0008
UcfJT WASHINGTON CENTER BLD. 26 ROOM 10732816(407) 823-3176
Ucf12226 Corporate Blvd32817(321) 281-1959
Wings Financial9647 Tradeport Dr32827(952) 997-8000