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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

Credit UnionStreet addressZipTelephone
Associated Credit Union3749 Wheeler Rd30909(707) 868-2200
Augusta Credit Union Carfinders3003 Riverwatch Ln30907(706) 863-6700
Augusta MetroP O Box 21308930917(706) 854-6150
Augusta Metro205 Davis Rd30907(706) 854-6150
Augusta Metro2338 Lumpkin Rd30906(706) 796-8226
Augusta Metro4306 Mike Padgett Hwy30906(706) 790-3122
Augusta Metro Federal Credit Union138 Davis Rd30907(706) 650-1675
Augusta Seaboard Community1212 Augusta W Pkwy30909(706) 650-9200
Augusta Seaboard System Federal Credit Union3636 Wheeler Rd30909(706) 650-9200
Augusta Vah1267 Augusta W Pkwy30909(706) 855-2224
Augusta Vah950 15th St30901(706) 823-3981
Augusta Vah1 Freedom Way30904(706) 731-7161
Fort Gordon247 Avenue of the States Drive Bldg 3630530905(706) 793-0012
Fort Gordon Federal Credit Union36305 Ave of the States30905(706) 793-0012
Georgia Power2103 N Leg Rd30909(770) 396-9005
Georgia Telco Credit Union1347 Augusta W Pkwy #130909(706) 868-6553
Health Center1467 Harper St30901(706) 434-1638
Health Center524 15th St30901(706) 434-2213
Health Center2500 Walton Way30904(706) 737-1782
Health Center2260 Wrightsboro Rd30904(706) 434-1552
Health Center Credit Union4115 Columbia Rd #430907(706) 855-3449
Metro One Federal Credit Union240 Robert Centre Daniel Jr P30909(706) 736-4762
Navy Federal Credit Union263 Robert C Daniel Jr Pkwy30909(888) 842-6328
RctPO Box 128930903(706) 826-1101
Rct864 Broad St #10530901(706) 826-1101
Richmond Community2048 Tobacco Rd30906(706) 790-1776
Richmond Cty Health Dept.Emp.1916 N Leg Rd30909(706) 667-4329
S Rp Federal Credit Union78 Milledge Rd30904(706) 733-5372
Srp3120 Peach Orchard Rd30906(803) 278-4851
Srp2215 Tobacco Rd30906(803) 278-4851
Srp771 Broad St30901(803) 278-4851
Tabernacle1223 Laney Walker Blvd30901(706) 724-1230
United Neighborhood1434 Poplar St30901(706) 823-6378
United Neighborhood2323 Barton Chapel Rd30906(706) 823-6378
United Neighborhood Federal Credit Union2803 Wrightsboro Rd30909(706) 737-0720
University Health1402 Walton Way #10230901(706) 774-8850