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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


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[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Address,Zip Code,Telephone” data=”All Seasons,P.O. Box 70,46231,(317) 240-5106,All Seasons,7310 W Morris St,46231,(317) 240-5106,Centra,4562 N Shadeland Ave,46226,(317) 541-1960,Clarian,P.O. BOX 1367,46206,(317) 962-8413,Clarian,1515 N Senate Ave,46202,(317) 962-8413,Clarian,2811 E 10th St,46201,(317) 633-3100,Cooperatives Federal Credit Union,720 N High School Rd,46214,(317) 248-0043,Credit Union,4700 W 10th St,46222,(317) 241-3729,Double Eleven,445 N Post Rd,46219,(317) 869-1111,Eli Lilly,P.O.Box 7123,46202,(317) 276-2105,Eli Lilly,1200 Kentucky Ave,46221,(317) 277-2997,Eli Lilly,639 S Delaware St,46225,(317) 277-7799,Eli Lilly,225 S East St,46202,(317) 276-2105,Energy Plus,1230 W Morris St,46221,(317) 261-8521,Energy Plus,2020 N Meridian St,46202,(317) 261-6405,Family Horizons,6665 E 21st St,46219,(317) 352-0423,Family Horizons Credit Union,2415 Directors Row,46241,(317) 241-4645,Fedex Employees Credit Association,3724 S High School Rd,46241,(317) 821-8463,Finance Center,7101 E 56th St,46226,(317) 916-7700,Finance Center,11715 Fox Rd #100,46236,(317) 916-7700,Finance Center,575 N Pennsylvania St,46204,(317) 916-7700,Finance Center,8899 E 56th St,46249,(317) 916-7700,Finance Center,8245 Allisonville Rd,46250,(317) 916-7700,Finance Center,5455 W 86th St,46268,(317) 916-7700,Finance Center,1500 E Michigan St,46201,(317) 916-7700,Finance Center,9651 E 21st St,46229,(317) 916-7700,Finance Center,1901 E 86th St,46240,(317) 916-7700,Finance Center,1301 E Stop 11 Rd,46227,(317) 916-7700,Firefighters CU,501 N New Jersey St,46204,(317) 636-5581,Firefighters CU,5836 Crawfordsville Rd,46224,(317) 481-0916,Forum,P.O. BOX 50738,46250,(317) 558-6000,Forum,8201 E Washington St,46219,(317) 554-3093,Forum,7023 Corporate Dr,46278,(317) 554-2757,Forum,6501 N College Ave,46220,(317) 596-3561,Forum,5210 E Southport Rd,46237,(317) 558-6082,Forum,5760 Sunnyside Rd,46235,(317) 596-3526,Forum,8935 U.S. 31,46227,(317) 851-7001,Forum Credit Union,7242 Fisher Rd,46239,(317) 558-6000,H A L E,700 N Pennsylvania St,46204,(317) 630-1341,Harvester Financial,7020 Brookville Rd,46239,(317) 352-0455,Hoosier Farm Bureau,P.O. Box 1250,46206,(317) 692-7607,Horizon One,610 Drover St,46221,(317) 236-6290,I.K.I.B.E.W.,1828 N Meridian St #10,46202,(317) 923-4747,Indiana Members,P.O. Box 47769,46247,(317) 788-0366,Indiana Members,Campus Center,46202,(317) 636-8479,Indiana Members,8333 Naab Rd #100,46260,(317) 338-2272,Indiana Members,7470 E 82nd St,46256,(317) 849-5630,Indiana Members,5047 Madison Ave,46227,(317) 788-4693,Indiana Members,5940 E Stop 11 Rd,46237,(317) 887-0686,Indiana Members,8910 Wesleyan Rd,46268,(317) 532-2760,Indiana Members,136 N Delaware St,46204,(317) 635-7729,Indiana Members,1481 W 10th St,46202,(317) 262-1087,Indiana Members,95 S Mitthoeffer Rd,46239,(317) 897-0208,Indiana Members,302 W Washington St,46204,(317) 232-5335,Indiana Members,4790 E 96th St,46280,(317) 814-2400,Indiana Members,7110 W 10th St,46214,(317) 248-8556,Indiana Members Credit Union,St Vincent Indianapolis Hospital,46260,(317) 338-2272,Indiana University,8936 Southpointe Dr,46227,(812) 855-7823,Indianapolis Post Office,PO Box 724,46206,(317) 262-1870,Indianapolis’ Newspaper,111 E Vermont St,46204,(317) 444-2000,Kemba Indianapolis,444 S Shortridge Rd,46219,(317) 351-5235,Kemba Indianapolis,5855 N German Church Rd,46235,(317) 351-5235,Link,5212 Rockville Rd,46224,(317) 248-9241,Missions Building,PO Box 1986,46204,(317) 713-2632,Missions Building,130 E Washington St,46204,(317) 713-2632,Mt Zion Indianapolis,3549 Boulevard Pl,46208,(317) 923-4010,Northpark Community,9330 Zionsville Rd,46268,(317) 337-4088,Professional Police Officers,1502 E Washington St,46201,(317) 327-2600,Sheet Metal Workers,PO BOX 20668,46220,(317) 549-6009,State Service,10 N Senate Ave,46204,(317) 232-7674,Teachers,4705 S Emerson Ave,46203,(317) 780-1007,Teachers,6710 N Shadeland Ave,46220,(317) 577-1313,Teachers,5130 W 71st St,46268,(317) 299-9941,Teachers,1 N Capitol Ave #101,46204,(317) 917-2011,Teachers,8375 E 96th St,46256,(317) 596-7880,Teachers,2331 N Meridian St,46208,(317) 926-1526,Teachers,5349 W Pike Plaza Rd,46254,(317) 280-9195,Visa Rebates,5124 Stanhope Ln,46254,(317) 228-9717,Warren M S D,1065 N Post Rd,46219,(317) 890-3000,Wayne Township Employees FCU,50 N Girls School Rd,46214,(317) 271-6406″][/tboot_table]