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Car loans give you the ability to buy a new car or truck, even when you haven’t got the required money. Whether you’re approved for financing will depend on a number of different factors, which include your credit score, salary, where you live, stability of income, money down, and debt to income ratio. Fortunately, we make it easy to apply through our website, which can save you a good deal of time and aggravation. A local Idaho Falls auto loan specialist can help you secure financing, answering your questions in the process.

Auto Loan Rates in Idaho Falls

What will your interest rate be? In fact, your annual percentage rate varies greatly based on your credit, among other factors. The rates shown below are only for informational purposes. These aren’t advertisements, and your actual rate could be very different.

Credit Score New Car Used Car
Excellent 3.2% 3.9%
Good 4.6% 5.9%
Average 6.9% 7.9%
Subprime 9.6% 10.2%
Bad 14.1% 15.3%
Very Bad 16.5% 18.0%

Used Auto Loans in Idaho Falls

The rates of interest are increased when financing pre-owned autos, as they introduce a somewhat greater risk of maintenance problems. Higher rates for pre-owned cars, however, are contrasted by cheaper down payments, monthly installments, and premiums. Have a look at the chart below, which displays the costs associated with auto loans for brand new versus pre-owned vehicles.

Years Old Price Rate Months Payment Interest Total Cost
New $18,600 6.00% 60 $359.59 $2,975 $21,575
1 Year $14,880 7.50% 60 $298.16 $3,010 $17,890
2 Years $12,648 7.50% 60 $253.44 $2,558 $15,206
3 Years $10,751 7.50% 60 $215.42 $2,175 $12,925

You can buy a lot of car for the money if you aren’t afraid of a second hand car. Most of the time, you can get a car loan for a vehicle that’s up to 10 years old. Mileage constraints may apply.

Bad Credit Car Loans in Idaho Falls

Less-than-perfect credit makes it difficult to finance a car, but it isn’t out of the question. Nothing is more embarrassing than having your credit refused at the car dealership. Although poor credit always results in a more expensive rate of interest, you can now request quotes from an assortment of companies online.

In Idaho Falls, buy here pay here dealerships end up catering to a large percentage of the bad credit demographic While you shouldn’t have any difficulty with respect to approval, it’ll cost you a lot for the opportunity. Typically, it’s much easier to work with a local bank, credit union, or lender. This is the way most people get financed these days, and it’s considerably cheaper over time.

Contact an auto finance professional in your area today.

Can a Car Loan Improve Your Credit?

A car loan can be a good method of improving your credit score, but you have to make sure that you make your payments punctually. If you work with a buy here pay here car lot, you will not have this ability. Most lenders offer automatic payment, which is crucial for making your payments when they’re due every month.

Idaho Falls Resources

Credit Unions

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[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Street address,Zip Code,Telephone” data=”A+,PO Box 2871,83403,(208) 522-8576,A+,525 W Sunnyside Rd,83402,(208) 522-8576,Beehive,1650 E Sunnyside Rd,83404,(208) 656-1000,Docutech- Inc.,3911 N 5th E,83401,(866) 444-9581,East Idaho,PO Box 1865,83403,(208) 523-9068,East Idaho,865 S Woodruff Ave,83401,(208) 523-9068,East Idaho,1170 Science Center Dr,83402,(208) 523-9068,East Idaho Credit Union,Russ Freeman Park,83401,(208) 523-9068,Idaho Central,169 Houston Cir,83402,(208) 478-3300,Idaho Central,3330 S 15th E,83404,(208) 478-3300,Idaho Central Credit Union,3330 E St Clair Rd,83404,(208) 478-3300,Idaho State University,1385 Fremont Ave,83402,(208) 235-7100,Members Preferred Credit Union,P.O. Box 2200,83403,(208) 523-0090,Members Preferred Credit Union,1515 Hoopes Ave,83404,(208) 523-0090,Potelco United,2001 S Woodruff Ave,83404,(208) 529-0444,Potelco United Credit Union,2001 S Woodruff Ave #1,83404,(208) 529-0444,Scenic Falls,PO BOX 50307,83405,(208) 552-4800,Scenic Falls,700 Memorial Dr,83402,(208) 552-4800,Scenic Falls,1530 Elk Creek Dr,83404,(208) 552-4800,Westmark,P.O. Box 2869,83403,(208) 528-8315,Westmark,2160 W Broadway St,83402,(208) 523-1101,Westmark,2520 Channing Way,83404,(208) 528-8315,Westmark,815 1st St,83401,(208) 523-1071″][/tboot_table]

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