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For a lot of individuals, getting a loan is the main hurdle to obtaining the car they desire. You may opt to secure an auto loan with the dealer, but this isn’t always the way to go. To streamline the process, you can apply online for an auto loan. Banks and dealers compete for your business in real time, putting you in the driver’s seat of the financing process.

Auto Finance Rates in Indianapolis

The interest rates below should not be viewed as anything but estimations to give you an idea of what rate to expect given where you are and your FICO score. Your exact interest rate could differ drastically from the interest rates right here.

FICO Rating New Car Used Car
Excellent 3.4% 3.7%
Good 4.6% 5.2%
Average 6.2% 6.9%
Subprime 8.1% 8.5%
Bad 10.8% 11.7%
Very Bad 11.5% 12.8%

Used Car Financing in Indianapolis

New vehicles have the least expensive rates. Then again, new cars and trucks depreciate so quickly, pre-owned cars are usually the better investment. You can finance a solid pre-owned vehicle for a small fraction of the cost of a brand new one.

Years Old Price Rate Months Payment Interest Total Cost
New $18,800 6.00% 60 $363.46 $3,007 $21,807
1 Year $15,040 7.50% 60 $301.37 $3,042 $18,082
2 Years $12,784 7.50% 60 $256.17 $2,586 $15,370
3 Years $10,866 7.50% 60 $217.74 $2,198 $13,064

For most individuals, a second hand vehicle is the best option. Most loan companies will let you finance a pre-owned vehicle that’s up to eight years old, and some cap the mileage at 100K miles.

Poor Credit Auto Loans in Indianapolis

Below-average credit will make it challenging to finance a car, but it isn’t hopeless. Better FICO scores typically result in more affordable rates of interest, but it’s considerably more complex than that. In the past, you might be turned away at quite a few lenders or dealerships before you secured a loan.

If your credit is pretty awful, you may want to stop by a dealership that promotes buy here pay here loans. The disadvantages are noteworthy: ridiculous annual percentage rates and arrays of conditions.

It is best to keep clear of these car lots when you can, and obtain an auto loan online. This is how many individuals get approved these days, and it’s a lot less expensive over time.

Best of all, you can submit your application online.

Zero Down Cars in Indianapolis

The cash needed to finance a new car or truck could be as much as the price of a second hand one. If you have fantastic credit, many loan creditors will not require a down payment. If your credit is only average, however, a down payment of 10-20% will typically be required. By submitting an application online, you can improve your odds of locking down this sort of a deal, as dealers are able to view your preferred down payment upfront.

Indianapolis Resources

Credit Unions

Credit UnionAddressZip CodeTelephone
All SeasonsP.O. Box 7046231(317) 240-5106
All Seasons7310 W Morris St46231(317) 240-5106
Centra4562 N Shadeland Ave46226(317) 541-1960
ClarianP.O. BOX 136746206(317) 962-8413
Clarian1515 N Senate Ave46202(317) 962-8413
Clarian2811 E 10th St46201(317) 633-3100
Cooperatives Federal Credit Union720 N High School Rd46214(317) 248-0043
Credit Union4700 W 10th St46222(317) 241-3729
Double Eleven445 N Post Rd46219(317) 869-1111
Eli LillyP.O.Box 712346202(317) 276-2105
Eli Lilly1200 Kentucky Ave46221(317) 277-2997
Eli Lilly639 S Delaware St46225(317) 277-7799
Eli Lilly225 S East St46202(317) 276-2105
Energy Plus1230 W Morris St46221(317) 261-8521
Energy Plus2020 N Meridian St46202(317) 261-6405
Family Horizons6665 E 21st St46219(317) 352-0423
Family Horizons Credit Union2415 Directors Row46241(317) 241-4645
Fedex Employees Credit Association3724 S High School Rd46241(317) 821-8463
Finance Center7101 E 56th St46226(317) 916-7700
Finance Center11715 Fox Rd #10046236(317) 916-7700
Finance Center575 N Pennsylvania St46204(317) 916-7700
Finance Center8899 E 56th St46249(317) 916-7700
Finance Center8245 Allisonville Rd46250(317) 916-7700
Finance Center5455 W 86th St46268(317) 916-7700
Finance Center1500 E Michigan St46201(317) 916-7700
Finance Center9651 E 21st St46229(317) 916-7700
Finance Center1901 E 86th St46240(317) 916-7700
Finance Center1301 E Stop 11 Rd46227(317) 916-7700
Firefighters CU501 N New Jersey St46204(317) 636-5581
Firefighters CU5836 Crawfordsville Rd46224(317) 481-0916
ForumP.O. BOX 5073846250(317) 558-6000
Forum8201 E Washington St46219(317) 554-3093
Forum7023 Corporate Dr46278(317) 554-2757
Forum6501 N College Ave46220(317) 596-3561
Forum5210 E Southport Rd46237(317) 558-6082
Forum5760 Sunnyside Rd46235(317) 596-3526
Forum8935 U.S. 3146227(317) 851-7001
Forum Credit Union7242 Fisher Rd46239(317) 558-6000
H A L E700 N Pennsylvania St46204(317) 630-1341
Harvester Financial7020 Brookville Rd46239(317) 352-0455
Hoosier Farm BureauP.O. Box 125046206(317) 692-7607
Horizon One610 Drover St46221(317) 236-6290
I.K.I.B.E.W.1828 N Meridian St #1046202(317) 923-4747
Indiana MembersP.O. Box 4776946247(317) 788-0366
Indiana MembersCampus Center46202(317) 636-8479
Indiana Members8333 Naab Rd #10046260(317) 338-2272
Indiana Members7470 E 82nd St46256(317) 849-5630
Indiana Members5047 Madison Ave46227(317) 788-4693
Indiana Members5940 E Stop 11 Rd46237(317) 887-0686
Indiana Members8910 Wesleyan Rd46268(317) 532-2760
Indiana Members136 N Delaware St46204(317) 635-7729
Indiana Members1481 W 10th St46202(317) 262-1087
Indiana Members95 S Mitthoeffer Rd46239(317) 897-0208
Indiana Members302 W Washington St46204(317) 232-5335
Indiana Members4790 E 96th St46280(317) 814-2400
Indiana Members7110 W 10th St46214(317) 248-8556
Indiana Members Credit UnionSt Vincent Indianapolis Hospital46260(317) 338-2272
Indiana University8936 Southpointe Dr46227(812) 855-7823
Indianapolis Post OfficePO Box 72446206(317) 262-1870
Indianapolis' Newspaper111 E Vermont St46204(317) 444-2000
Kemba Indianapolis444 S Shortridge Rd46219(317) 351-5235
Kemba Indianapolis5855 N German Church Rd46235(317) 351-5235
Link5212 Rockville Rd46224(317) 248-9241
Missions BuildingPO Box 198646204(317) 713-2632
Missions Building130 E Washington St46204(317) 713-2632
Mt Zion Indianapolis3549 Boulevard Pl46208(317) 923-4010
Northpark Community9330 Zionsville Rd46268(317) 337-4088
Professional Police Officers1502 E Washington St46201(317) 327-2600
Sheet Metal WorkersPO BOX 2066846220(317) 549-6009
State Service10 N Senate Ave46204(317) 232-7674
Teachers4705 S Emerson Ave46203(317) 780-1007
Teachers6710 N Shadeland Ave46220(317) 577-1313
Teachers5130 W 71st St46268(317) 299-9941
Teachers1 N Capitol Ave #10146204(317) 917-2011
Teachers8375 E 96th St46256(317) 596-7880
Teachers2331 N Meridian St46208(317) 926-1526
Teachers5349 W Pike Plaza Rd46254(317) 280-9195
Visa Rebates5124 Stanhope Ln46254(317) 228-9717
Warren M S D1065 N Post Rd46219(317) 890-3000
Wayne Township Employees FCU50 N Girls School Rd46214(317) 271-6406