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In today’s market, it’s extremely difficult to purchase a new car or truck if you aren’t approved for a car loan. Most often, the lender keeps a lien on the vehicle until it’s paid off. You’ll have to carry full coverage insurance, to make sure that you’ll have the money to repay the loan in case the car gets totaled. Generally, it’s smart to put together your car loan ahead of time. A local finance specialist can walk you step-by-step through the process, helping you secure a loan from a company you can trust.

Auto Loan Rates in Pensacola

The interest rates below are not ads, but estimations to give you a notion of what rate of interest can be expected given your location and your FICO score. The rate you’re provided may vary considerably from what you see here.

Credit 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 Pensacola

Perhaps you have noticed, loan companies charge slightly more expensive rates for used vehicles. However, new cars lose value so quickly, used vehicles are typically a better investment. The figures speak on their own.

Years Old Price APR Months Payment Interest Total Cost
New $30,000 6.00% 60 $579.98 $4,799 $34,799
1 Year $24,000 7.50% 60 $480.91 $4,855 $28,855
2 Years $20,400 7.50% 60 $408.77 $4,126 $24,526
3 Years $17,340 7.50% 60 $347.46 $3,507 $20,847

Are you interested in pre-owned car or truck? Below are the most popular restrictions on used vehicle financing:

  • Car no older than 7-10 years.
  • Mileage no more than 100,000 miles.
  • Purchased via dealer, not private party.

Bad Credit Car Loans in Pensacola

Your credit score is the first thing finance companies assess when determining whether to approve you financing. Better FICO scores typically lead to reduced rates of interest, but it’s considerably more complex than that. Before the internet, you really had to agree to whatever interest rate and conditions you were presented. Today, there are better ways to get financed.


It might seem that a buy here pay here dealer is the most convenient option. Most of these dealerships don’t even look at your credit, and they offer cheap, higher-mileage cars and trucks. The interest rates are very steep, and the vehicles are often price over market value.

You’ll want to avoid these dealerships when you can, securing a car loan on the web. This is the way the majority of people nowadays get financed, and it’s significantly more affordable in the long term.

Contact an auto finance professional in your area today.

No Money Down Car Loans in Pensacola

Down payments are usually required when you get a car financed. The vast majority of loan providers offer 100% financing, in some cases more, but the new owner must have top-notch credit. For people with below-average credit, there is just one real approach: find a dealer that accepts trades, and see if they can consider your existing car instead of a down payment.

Pensacola Resources

Credit Unions

Credit UnionLocationZipPhone
Baptist Regional Medical905 W Moreno St32501(850) 444-7030
Central Credit Union Of FloridaP O Box 1704832522(850) 474-0970
Central Credit Union Of Florida9470 Foxrun Rd32514(850) 474-0970
Central Credit Union Of Florida6200 N W St32505(850) 474-0970
Central Credit Union Of Florida308 N Spring St32501(850) 474-0970
Central Credit Union Of Florida4964 Bayou Blvd32504(850) 474-0970
Florida State EmployeesPO BOX 1100332526(850) 474-1400
Florida State Employees7 N Coyle St32502(850) 438-9677
Florida State Employees1645 E 9 Mile Rd32514(850) 474-1400
Gpce200 N Pace Blvd32501(850) 430-1961
Gpce9641 Holsberry Rd32534(850) 477-9444
Gpce1 Energy Pl #12932520(850) 444-6216
Gpce Credit Union9515 Holsberry Rd32534(850) 477-9444
Gulf Winds220 E 9 Mile Rd32534(850) 479-9601
Gulf Winds3695 N L St32505(850) 479-9601
Gulf Winds1444 Creighton Rd32504(850) 479-9601
Gulf Winds5996 N Blue Angel Pkwy32526(850) 479-9601
Gulf Winds116 W Government St32502(850) 479-9601
Gulf Winds FCU610 S Pace Blvd32502(850) 479-9601
Harvesters8001 N 9th Ave32514(850) 968-2233
Harvesters1358 W 9 Mile Rd32534(850) 968-2233
Harvesters9285 W Hwy 9832506(850) 968-2233
Members First Credit Union Of FloridaP. O. Box 1298332591(850) 434-2211
Members First Credit Union Of Florida7176 N 9th Ave32504(850) 434-2211
Members First Credit Union Of Florida64 S Reus St32502(850) 434-2211
Members First Credit Union Of Florida4240 W Fairfield Dr32505(850) 434-2211
Members First Credit Union Of Florida250 W Airport Blvd32505(850) 434-2211
Navy Federal Credit Union5550 Heritage Oaks Dr32526(888) 842-6328
Navy Federal Credit UnionNorthcross Village Shopping Center32514(888) 842-6328
Navy Federal Credit Union9070 W Hwy 9832506(888) 842-6328
Navy Federal Credit Union440 N Navy Blvd32507(888) 842-6328
Navy Federal Credit Union235 E 9 Mile Rd32534(850) 475-7929
Pen Air1495 E 9 Mile Rd32514(850) 505-3200
Pen Air5570 W Hwy 9832507(850) 505-3200
Pen Air5941 Hobson Ln32526(850) 505-3200
Pen Air4523 Saufley Field Rd32526(850) 505-3200
Pen Air21 Cunningham St NAS32508(850) 505-3200
Pen Air305 W Gregory St32502(850) 505-3200
Pen Air60 Industrial Blvd32503(850) 505-3200
Pen Air Federal Credit UnionWhiting Fld32501(850) 505-3200
Pensacola600 W Garden St32502(850) 438-1622
Pensacola Government108 S Reus St32502(850) 432-9939
Pensacola L & N251 Amber St32503(850) 433-6159
West Flordia Medical8383 N Davis Hwy32514(850) 494-4899