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Most new cars and trucks are bought with a loan, and the others are generally leased. It’s possible to make arrangements for your auto loan on the lot, but this isn’t always the way to go. Rather than sweating it out at the dealership or lender, you can submit your application for a car loan on the web.

You could be discussing the finer points of your loan in minutes.

Auto Loan Rates in Decatur

Please keep in mind that these rates aren’t advertisements, but estimates at the time of publication. The rate you’re provided may vary drastically from what’s seen here.

FICO Rating New Car Used Car
Excellent 3.4% 3.6%
Good 5.0% 5.0%
Average 6.8% 6.8%
Subprime 8.7% 8.6%
Bad 13.0% 12.5%
Very Bad 13.4% 14.2%

Have you reviewed your credit score lately? You probably should. There are many places to check your credit. Here’s one of the best to do so: link.

Used Auto Loans in Decatur

You will find that loan providers charge slightly higher rates for second hand vehicles. Higher rates of interest for used cars, however, are counterbalanced by smaller down payments, monthly installments, and insurance costs. Consider the numbers below.

Age Price APR Months Payment Interest Total Cost
New $27,000 6.00% 60 $521.99 $4,319 $31,319
1 Year $21,600 7.50% 60 $432.82 $4,369 $25,969
2 Years $18,360 7.50% 60 $367.90 $3,714 $22,074
3 Years $15,606 7.50% 60 $312.71 $3,157 $18,763

For most people, a second hand car is a great option. More often than not, you can get an auto loan for a vehicle that is up to 10 years old. Mileage limits often apply.

Poor Credit Car Loans in Decatur

These days, a bad credit score is fairly common. It’s a well-known fact: the better your credit, the lower your rate of interest. Fortunately, there are many lenders who are experts in subprime financing situations.

In-house financing is another option, offered by Decatur’s buy here pay here (BHPH) car dealerships. The APR rates border on extortionate, and the vehicles are always second hand, sometimes with very high mileage.

It’s better to keep away from these car lots whenever possible, and secure an auto loan online. The down payments are more affordable, as are the annual percentage rates, and the service tends to be much superior.

Best of all, you can submit your application online.

Zero Down Auto Loans in Decatur

Saving enough money you need to obtain a new car can be difficult, especially if you’ve got less-than-perfect credit, in which case you might have to offer a pretty big down payment.

The down payment minimizes lender investment in the vehicle, and it compensates for the immediate devaluation you see with any new vehicle sale. By submitting your application online, it’s possible to increase your chances of obtaining this sort of a package. Finance companies and dealerships can view your preferred down payment in advance.

Decatur Resources

Credit Unions

Credit UnionStreet addressZip CodePhone
ADM4666 E Faries Pkwy62526(217) 424-5605
ADM3735 E. Williams Street Road62521(217) 424-5605
Antioch Mb530 W Mound Rd62526(217) 875-1730
Citizens Equity First3301 N Woodford St62526(217) 875-1177
Decatur Earthmover4855 Aldi Dr62521(217) 864-2301
Decatur Earthmover2600 Dividend Dr62526(217) 875-2301
Decatur Medical Dental2721 N Main St62526(217) 872-3789
Decatur Policemen333 S Franklin St62523(217) 767-8018
Decatur Postal214 N Franklin St Rm 22062523(217) 428-8333
Decatur Stanolind1120 S Jasper St62521(217) 429-3340
I.B.E.W. Local #1463390 N Woodford St62526(217) 877-6521
Land Of LincolnPO Box 331062524(217) 875-1300
Land Of Lincoln2890 N Oakland Ave62526(217) 875-1300
Land Of Lincoln3130 E Mound Rd62526(217) 875-3823
Macon Co School Employees902 N Monroe St62522(217) 423-8297
Staley Employees3330 N Woodford St62526(217) 423-9767
Staley Employees440 N 22nd St62521(217) 423-9767
Utility Employees2773 N Main St62526(217) 875-1845