My Car Lender

Home / Finance / Iowa Auto Finance


In today’s times, you’ll find it extremely difficult to purchase a new car or truck without a loan. It would be nice if this was a painless process, but it rarely is. Lending institutions require a lot of info before deciding to finance your car loan. To speed up approval, you can apply online for your car loan. You will find specialists ready to help you get a car loan with a rate that’s reasonable.

Auto Finance Rates in Iowa

These rates are for informational purposes only. They aren’t advertisements. Variables that influence your exact rate of interest include your credit rating, where you reside, your occupational history, the type of vehicle you want to finance, and the size of your loan.

Credit Score New Car Used Car
Excellent 3.4% 3.4%
Good 5.1% 4.6%
Average 6.7% 7.1%
Subprime 9.4% 9.8%
Bad 12.8% 12.4%
Very Bad NA 12.4%

If you do not know what your credit score is, you need to. We suggest this site, where you can check your score without spending a dime.

Used Car Financing in Iowa

You will find that creditors charge slightly higher interest rates for second hand vehicles. However, used cars are cheaper over the long haul, and they don’t lose value so fast. The figures speak for themselves.

Age Price APR Months Payment Interest Total
New $17,500 6.00% 60 $338.32 $2,799 $20,299
1 Year $14,000 7.50% 60 $280.53 $2,832 $16,832
2 Years $11,900 7.50% 60 $238.45 $2,407 $14,307
3 Years $10,115 7.50% 60 $202.68 $2,046 $12,161

Are you interested in a pre-owned car or truck? Most of the time, you can finance a vehicle that’s up to ten years old. Mileage constraints may apply.

Bad Credit Car Loans in Iowa

Your FICO score is of utmost importance when financing a car. The higher your credit score is, the lower your interest rate. Although less-than-perfect credit always results in an increased annual percentage rate, you can now request quotes from several different loan companies online.

If you can, you should steer clear of no credit check car dealers. These buy here pay here dealerships are infamous for aggressive sales tactics. The APR rates are borderline extortionate, and the vehicles are always used, sometimes with lots of miles. If possible, you want to secure your loan through one of the following lenders:

  • Local bank.
  • Credit union for which you’re eligible.
  • Automotive finance company.

A dealership or finance specialist will help you get financed through one of these lenders. There are many benefits: more affordable rates of interest, superior service. And, if you make your payments on time, a boost to your credit score.

Go here to apply online.

Iowa Resources