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For a lot of consumers, getting a loan is the main obstacle to buying the vehicle they want. Unfortunately, getting approved for financing can be a major inconvenience, particularly when you have less-than-perfect credit. Why would you want to wait to submit an application at the bank or dealer when you can get approved right now on the web?

You could be behind the wheel of a new car before you know it.

Auto Finance Rates in Georgia

Most companies only advertise the best rate available, which is only available to people with the highest FICO scores. The truth is, your interest rate differs hugely based on your FICO score, among other things. The rates displayed below are only for informational purposes. They aren’t advertisements, and your exact rate will vary.

FICO Rating New Car Used Car
Excellent 3.1% 3.4%
Good 4.4% 4.7%
Average 6.3% 6.7%
Subprime 9.0% 10.5%
Bad 13.8% 15.3%
Very Bad 14.1% 16.4%

Used Car Loans in Georgia

A brand new car is appealing, for certain. Clever consumers, however, always go for used cars. The figures speak on their own.

Age Price APR Months Payment Interest Total Cost
New $17,250 6.00% 60 $333.49 $2,759 $20,009
1 Year $13,800 7.50% 60 $276.52 $2,791 $16,591
2 Years $11,730 7.50% 60 $235.05 $2,373 $14,103
3 Years $9,971 7.50% 60 $199.79 $2,017 $11,987

A pre-owned car or truck is a great option, whether you’re financing or not. Most companies will help you finance a second hand vehicle that’s up to eight years old, and some cap the miles at 100,000 miles.

Poor Credit Car Loans in Georgia

Less-than-perfect credit will make it challenging to finance a car, but it isn’t out of the question. With a credit score of more than 700, you should have no problem locking down an auto loan, but approval and interest both become hassles for people who have a bad credit score. Years ago, consumers had to go from one dealer to the next, attempting to locate one willing to approve their loan. Fortunately, technology has phased out most of this legwork. Buy here pay heredealerships are another option. Yes, your credit will not be a concern, but you will wind up forking out a boatload in interest for an outdated vehicle. You should keep away from these dealers if possible, securing an auto loan online. An established bank or finance company will report your payments to the credit agencies, meaning your credit score will get better if you make your payments on schedule.

Best of all, you can fill out an application online.

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