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Nearly all new cars and trucks are purchased with loans or leased. It would be great if this was a convenient process, but it really isn’t. Lending institutions require a good deal of information before deciding to approve you for financing. In most cases, it’s better to line up your loan in advance. You could be working out the finer points of your car loan in no time.

Auto Finance Rates in Atlanta

A lot of finance companies only show you the most affordable rate they have, only available to consumers with perfect credit. The reality is, your interest rate varies greatly based on your credit, as well as other variables. The rates shown below are only for informational purposes. They are not advertisements, and your actual rate could deviate vastly from what’s seen below.

Credit 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 Atlanta

Some people are put off by pre-owned cars because the loan rates are more expensive. Having said that, new cars depreciate so quickly, used vehicles are typically a better value. Have a look at the chart below, showing the costs associated with auto loans for new versus used cars and trucks.

Age Price Rate 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

For most of us, a used car is the better option. Let’s consider the typical limits on auto loans for used cars:

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

Poor Credit Auto Loans in Atlanta

Ordinarily, promotions such as no money down are out of the question if your credit score has seen better days. The higher your credit score, the greater number of options you’ll have. Before the internet, you pretty much forced to take whatever interest rate and stipulations they gave you. Today, there are better strategies to get financed.

Many consumers wind up going to Atlanta buy here pay here car dealers, most of which don’t even consider a consumer’s credit. The APR rates are very steep, and the cars and trucks tend to be priced higher than they would be at other dealerships.

Whenever feasible, you’ll want to get your finance package through one of the following loan providers:

  • National or regional bank.
  • Credit union for which you’re eligible.
  • Automobile loan company.

A dealer or finance specialist will help you obtain financing from one of these lenders. The rates should be lower, the terms significantly better, and you have the ability to improve your credit in the process.

Best of all, you can submit your application online.

Decreasing Your Interest Rates

There are several ways to reduce your annual percentage rate. Is your credit report marred by any errors? These can harm your credit score quite considerably. You can obtain your credit report completely free here. Correcting any discrepancies–a straight-forward process–could really improve your credit score. Often, including a cosigner with your finance package could also lessen your annual percentage rate.

Can a Car Loan Improve Your Credit?

An auto loan can be a highly effective method of improving your credit score, but you have to ensure that you make your payments on time. Please bear in mind that this is a gradual process. Most lenders offer automatic bill-pay options, which are crucial for making your payments on time every month.

Atlanta Resources

Credit Unions

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[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Location,Zip Code,Telephone” data=”1St Choice,315 Auburn Ave NE,30312,(404) 832-5800,1St Choice Credit Union Atm,2800 Springdale Rd SW,30315,(404) 763-0761,Associated Credit Union,2250 North Druid Hills Rd NE #144,30329,(404) 321-4100,Atlanta,3075 Sylvan Rd,30344,(404) 559-8833,Atlanta City Employees CU,670 Metropolitan Pkwy SW,30310,(404) 658-6465,Atlanta Kemba Credit Union,2175 Parklake Dr NE #480,30345,(770) 496-7404,Atlanta Postal,3900 Crown Rd SE,30354,(404) 768-4126,Atlanta Postal,501 Pulliam St SW,30312,(404) 522-4692,Atlanta Postal,1800 James Jackson Pkwy NW,30318,(404) 792-8560,Atlanta Postal Credit Union,400 Tradeport Blvd,30354,(404) 209-7239,Atlanta Postal Credit Union,520 Ponce De Leon Ave NE,30308,(404) 378-3575,Atlanta Teachers,261 Joseph E Lowery Blvd NW,30314,(404) 525-3218,CDC Federal Credit Union,2301 Parklake Dr NE,30345,(404) 325-3270,CDC Federal Credit Union,2970 Brandywine Rd,30341,(770) 458-7584,Charway Federal Credit Union,1550 Peachtree St NE,30309,(404) 872-7152,Circle 10 Federal Credit Union – Lending,2845 Clearview Pl,30340,(770) 451-2794,Cmar Credit Union – Smyrna,1314 Church Street Southeast,30303,(770) 431-7929,Constar Credit Union,5111 Phillip Lee Dr SW,30336,(404) 696-9321,Corporate America Family,115 Perimeter Center Pl,30346,(770) 671-1100,Credit Sovereign,8975 Roswell Rd,30350,(770) 641-1441,Credit Union Autofinders,1117 Perimeter Center W,30328,(678) 441-0013,Credit Union Of Atlanta,Credit Union of Atlanta,30310,(404) 658-6465,Credit Union Of Atlanta,Pryor St SE,30303,(404) 671-4020,Delta Community,1025 Virginia Ave,30344,(404) 715-4725,Delta Community,1025 Virginia AvenueA Concourse,30354,(404) 715-4725,Delta Community,1050 Delta Blvd,30354,(404) 715-4725,Delta Community,1775 Aviation Blvd,30337,(404) 715-4725,Delta Community,3250 Riverwood Pkwy,30339,(404) 715-4725,Delta Employees Credit Union,1030 Delta Blvd,30354,(404) 715-4627,East Point City – Credit Union,2757 E Point St,30344,(404) 765-1034,Emory Alliance,Orr St NW,30314,(404) 686-2559,Excel,401 West Peachtree St NW,30308,(770) 441-9235,Excel,1718 Peachtree St NE,30309,(770) 441-9235,Excel,61 Forsyth St NW,30303,(770) 441-9235,Excel Federal Credit Union,1718 Peachtree St NW,30309,(404) 881-6022,Fiserve,1475 Peachtree St NE,30309,(404) 607-8111,Fort Mcpherson,1732 Walker Ave SW,30310,(404) 753-4592,Fulton Teachers Credit Union,786 Cleveland Ave SW,30315,(404) 684-9034,Gemc,PO Box 450449,31145,(770) 270-7851,Georgia Dept Of Pub Safety,959 E Confederate Ave SE,30316,(404) 624-7790,Georgia Power,5901 Peachtree Dunwoody Rd NE,30328,(770) 396-9005,Georgia Power,5901 Peachtree Dunwoody Rd #275,30328,(770) 396-9005,Georgia State Banking & Finance Dept,2990 Brandywine Rd,30341,(770) 986-1633,Georgia Telco Credit Union,2200 Century Pkwy NE #4,30345,(404) 633-2525,Georgia United,4448 Tilly Mill Rd,30360,(770) 476-6400,Georgia’S Own,P.O. BOX 105205,30348,(404) 874-0777,Georgia’S Own,133 Peachtree St,30303,(404) 835-8960,Grant Park-Sand Community FCU,452 Cherokee Ave SE,30312,(404) 681-3378,Hapeville Auto Employees FCU,3645 Elm St,30354,(404) 761-2525,Human Services Employees’,101 Marietta St NW #140,30303,(404) 965-2740,Human Services Employees’,101 Marietta St,30303,(404) 965-2740,IBM Employees Federal Credit Union,1600 Riveredge Pkwy NW,30328,(770) 956-3070,Lockheed Georgia Employees’ FCU,3206 Northlake Pkwy NE,30345,(770) 496-0767,Maco Educators FCU,69 South Ave,30315,(770) 422-8100,Marta Employees Federal Credit Union,2870 E Point St,30344,(404) 669-0625,Mead Employees’,P.O. BOX 93425,30377,(404) 897-6391,Mead Employees’,1105 Herndon St NW,30318,(404) 897-6391,Mickey Cafe,817 West Peachtree St NW,30308,(404) 815-1617,Mutual Savings,P O Box 4569,30302,(404) 584-5754,Mutual Savings Credit Union,10 Peachtree Pl NE,30309,(404) 584-4754,National Credit Union Association,7000 Central Pkwy NE,30328,(678) 443-3000,Navy Federal Credit Union,2470 Briarcliff Rd NE #43,30329,(888) 842-6328,Northside,980 Johnson Ferry Rd NE #190,30342,(404) 851-6389,Peachtree Federal,1375 Peachtree St NE,30309,(404) 607-9827,Phenix Federal Credit Union,1100 Johnson Ferry Rd NE,30342,(404) 577-7995,Phenix Federal Credit Union,2147 Mt Zion Rd SE,30354,(770) 477-7017,Piedmont Hospital,1968 Peachtree Rd NW,30309,(404) 605-3286,Pinnacle,536 North Avenue NE,30308,(404) 888-1648,Pinnacle,4780 Fulton Industrial Blvd SW,30336,(404) 505-1318,Powerco,241 Ralph McGill Blvd NE,30308,(404) 506-3750,Powerco,30 Ivan Allen Jr Blvd,30308,(404) 223-0733,Powerco,1155 Perimeter Center W,30328,(678) 579-7432,Retail Employee Credit Union,3393 Peachtree Rd NE,30326,(404) 846-2066,Southern Federal Credit Union,601 McDonough Blvd SE,30315,(404) 624-9820,Spc,240 Candler Rd SE,30317,(678) 553-8400,State Employees,400 Whitehall St SW,30303,(404) 656-3748,Tenet Credit Union,303 Parkway Dr NE,30312,(404) 521-6178,The Coca-Cola Company Family,P. O. Box 1734,30301,(404) 676-2586,The Credit Union Loan Source Llc,5028 Clark Howell Hwy,30349,(404) 669-5380,The Southern,466 Towers Cir NE,30329,(800) 338-5882,The Thrift,1230 Peachtree St NE #250,30309,(404) 733-0640,The Thrift,1230 Peachtree St NE,30309,(404) 733-0640,Thrift Credit Union,1430 West Peachtree St NW #100,30309,(404) 524-0630,U S Federal Credit Union,1680 Phoenix Blvd #110,30349,(770) 991-4121,United Auto Credit Corporation,1303 Hightower Trail,30350,(770) 650-9038,W And A Federal Credit Union,1590 Marietta Blvd NW,30318,(404) 351-2477,Wheat Street Church Federal Credit Union,375 Auburn Ave NE,30312,(404) 522-8201″][/tboot_table]

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