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Are you interested in buying a new vehicle in Augusta, and plan to finance it? For those who have excellent credit, this is a straightforward process. When you have poor credit, however, it can be a real nightmare. Instead of sweating it out at the car lot or finance company, you can request your car loan online.

This is particularly beneficial for people who have poor credit, as a variety of dealers and lending institutions will consider your credit, a good number of of which specialize in credit problems.

Auto Loan Rates in Augusta

These rates of interest are not ads, but estimations to give you an idea of what interest rates can be expected given where you live and your FICO score. Your exact interest rate will be determined by a myriad of factors, for example loan company, down payment, monthly income, type of vehicle, and more.

Credit Score New Car Pre-owned 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 Financing in Augusta

New cars and trucks have the lowest loan rates. Mind you, it is smarter to finance a used vehicle, since the overall cost will be considerably less. You can finance a solid pre-owned car or truck for a small fraction of what it costs to finance a new one.

Age Price APR Months Payment Interest Total Cost
New $17,750 6.00% 60 $343.16 $2,839 $20,589
1 Year $14,200 7.50% 60 $284.54 $2,872 $17,072
2 Years $12,070 7.50% 60 $241.86 $2,441 $14,511
3 Years $10,260 7.50% 60 $205.58 $2,075 $12,335

As soon as it leaves the dealer lot, a new vehicle loses as much as 25% of its value, and it continues burning off a significant slice of its value every year. A car that cost $17,750 when new will be worth approximately $10,260 three years later. Loan companies charge higher rates for pre-owned cars, but in many instances, you only need 10% down, and the insurance premiums are less costly.

Poor Credit Auto Loans in Augusta

Has your credit been hurt by chapter 7/13, foreclosure, or other issues like this? The better your credit score, the more options you’ll have. Like any large investment, it’s smart to consult someone familiar with the process.

Of course, you’ll need to be alert for unethical practices. This is especially the case if you turn to a buy here pay here dealer. The rates are borderline criminal, and the vehicles are always used. You will be happier with financing from a traditional bank or credit union, which you can do through traditional car dealerships. There are a number of advantages: more affordable rates, improved service, and if you make your payments as agreed, an improvement to your FICO score.

Contact an auto finance professional in your area today.

Can a Car Loan Improve Your Credit?

Gradually, the payments you make on an auto loan can improve your credit score . There isn’t any direct surge in your credit score. Rather, it should increase gradually as time goes on. Most lenders offer automatic payment, which is essential to keeping current on your payments.

Augusta Resources

Credit Unions

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[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Street address,Zip,Telephone” data=”Associated Credit Union,3749 Wheeler Rd,30909,(707) 868-2200,Augusta Credit Union Carfinders,3003 Riverwatch Ln,30907,(706) 863-6700,Augusta Metro,P O Box 213089,30917,(706) 854-6150,Augusta Metro,205 Davis Rd,30907,(706) 854-6150,Augusta Metro,2338 Lumpkin Rd,30906,(706) 796-8226,Augusta Metro,4306 Mike Padgett Hwy,30906,(706) 790-3122,Augusta Metro Federal Credit Union,138 Davis Rd,30907,(706) 650-1675,Augusta Seaboard Community,1212 Augusta W Pkwy,30909,(706) 650-9200,Augusta Seaboard System Federal Credit Union,3636 Wheeler Rd,30909,(706) 650-9200,Augusta Vah,1267 Augusta W Pkwy,30909,(706) 855-2224,Augusta Vah,950 15th St,30901,(706) 823-3981,Augusta Vah,1 Freedom Way,30904,(706) 731-7161,Fort Gordon,247 Avenue of the States Drive Bldg 36305,30905,(706) 793-0012,Fort Gordon Federal Credit Union,36305 Ave of the States,30905,(706) 793-0012,Georgia Power,2103 N Leg Rd,30909,(770) 396-9005,Georgia Telco Credit Union,1347 Augusta W Pkwy #1,30909,(706) 868-6553,Health Center,1467 Harper St,30901,(706) 434-1638,Health Center,524 15th St,30901,(706) 434-2213,Health Center,2500 Walton Way,30904,(706) 737-1782,Health Center,2260 Wrightsboro Rd,30904,(706) 434-1552,Health Center Credit Union,4115 Columbia Rd #4,30907,(706) 855-3449,Metro One Federal Credit Union,240 Robert Centre Daniel Jr P,30909,(706) 736-4762,Navy Federal Credit Union,263 Robert C Daniel Jr Pkwy,30909,(888) 842-6328,Rct,PO Box 1289,30903,(706) 826-1101,Rct,864 Broad St #105,30901,(706) 826-1101,Richmond Community,2048 Tobacco Rd,30906,(706) 790-1776,Richmond Cty Health Dept.Emp.,1916 N Leg Rd,30909,(706) 667-4329,S Rp Federal Credit Union,78 Milledge Rd,30904,(706) 733-5372,Srp,3120 Peach Orchard Rd,30906,(803) 278-4851,Srp,2215 Tobacco Rd,30906,(803) 278-4851,Srp,771 Broad St,30901,(803) 278-4851,Tabernacle,1223 Laney Walker Blvd,30901,(706) 724-1230,United Neighborhood,1434 Poplar St,30901,(706) 823-6378,United Neighborhood,2323 Barton Chapel Rd,30906,(706) 823-6378,United Neighborhood Federal Credit Union,2803 Wrightsboro Rd,30909,(706) 737-0720,University Health,1402 Walton Way #102,30901,(706) 774-8850″][/tboot_table]

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