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In today’s market, you’ll find it quite difficult to buy a new car or truck if you can’t get approved for a vehicle loan. Quite often, your financing will be arranged on the day of purchase, but this can be a very lengthy process. Instead of wasting time at the dealer or bank, you can submit your application for your auto loan online. You could be discussing the details of your loan before you know it.

Auto Finance Rates in Baton Rouge

What will your APR be? In reality, your rate of interest varies hugely based on your credit score, among a variety of other things. The rates shown below are only for informational purposes. These aren’t advertisements, and your exact rate could deviate vastly from what’s displayed below.

FICO Score New Car Used Car
Excellent 3.1% 3.5%
Good 4.8% 5.2%
Average 7.0% 7.7%
Subprime 9.5% 9.6%
Bad 13.4% 13.6%
Very Bad 14.3% 15.1%

It’s very helpful to know your credit score when submitting an application for financing. You will find all kinds of ways to check your credit. Here’s one of the best to do so: link.

Used Car Auto Loans in Baton Rouge

Options like 0% loans and zero down payment are available on new cars when you’ve got first-rate credit. On the other hand, it is smarter to finance a second hand vehicle, since the overall cost will be a lot less. Have a look at the comparison below, which depicts the costs associated with car loans for brand new versus used vehicles.

Years Old Price Rate Months Payment Interest Total
New $25,800 6.00% 60 $498.79 $4,127 $29,927
1 Year $20,640 7.50% 60 $413.58 $4,175 $24,815
2 Years $17,544 7.50% 60 $351.55 $3,549 $21,093
3 Years $14,912 7.50% 60 $298.81 $3,016 $17,929

As you have seen, the car financed new for $25,800 will only be worth $14,912 after 36 months of ownership. Listed below are the common limitations on used car loans:

  • Car no older than 7-10 years.
  • Mileage no higher than 100,000.
  • Purchased from dealer, not private party.

Bad Credit Car Loans in Baton Rouge

Has your credit been marred by bankruptcy, repossession, or other issues like this? More often than not, the better your credit, the lower your rate of interest. Before the internet, you might be turned down at a number of lenders or dealers before securing financing.

On the spot loans are another option, available from Baton Rouge’s buy here pay here (BHPH) car lots. There’s a price for that lack of credit check: inflated annual percentage rates, stringent conditions, and high-priced, well-used vehicles. You’ll want to avoid these car lots when you can, obtaining a car loan online. The rates are typically less expensive, the terms considerably better, and you have the chance to rebuild your credit along the way.

Best of all, you can submit your application online.

Can a Car Loan Improve Your Credit?

An auto loan can boost your credit, provided that it meets these guidelines:

  • It is not supplied by a buy here pay here dealership.
  • The payments are made punctually, month after month.

Your credit score doesn’t surge the moment you pay off your auto loan. It slowly increases as you make your payments month after month. It’s smart to enroll in automated payments, in order to ensure you never skip any installment payments.

Baton Rouge Resources

Credit Unions

Credit UnionAddressZip CodeTelephone
A L E C10725 Airline Hwy70816(225) 293-3450
A M E Church1358 South Blvd70802(225) 376-4566
Allied PlasticsP. O. Box 5300670892(225) 775-1082
Allied Plastics Federal Credit Union12875 Scenic Hwy70807(225) 775-1082
Ame Federal Credit Union1358 South St70802(225) 376-4566
Baton Rouge City Parish EmpP.O. Box 352170821(225) 389-3059
Baton Rouge City Parish Emp433 Government St70802(225) 389-3059
Baton Rouge Fire DepartmentPO Box 4011870835(225) 274-8383
Baton Rouge Fire Department11123 Boardwalk Dr70816(225) 274-8383
Baton Rouge Telco13404 Airline Hwy70809(225) 924-8900
Baton Rouge Telco2226 Wooddale Blvd70806(225) 924-8900
Bayou5880 Florida Blvd70806(225) 925-8800
Bayou5825 Florida Blvd70806(225) 925-8800
Bayou9050 Airline Hwy70815(225) 925-8800
Bayou5525 Reitz Ave70809(225) 925-8800
Bayou3600 Florida Blvd70806(225) 925-8800
Bayou8601 Summa Ave70809(225) 925-8800
Breco1850 S Sherwood Forest Blvd70816(225) 273-1529
Breco4171 Essen Ln70809(225) 932-5859
Breco446 North Blvd70802(225) 381-5791
CampusP.O. Box 9803670898(225) 769-8841
CampusUnion Building70803(225) 769-8841
CampusNicholson Extension70803(225) 769-8841
Campus5711 S Sherwood Forest Blvd70816(225) 769-8841
Capital City PressP.O. Box 214970821(225) 761-5111
Capital City Press7290 Bluebonnet Blvd70810(225) 761-5111
Department Of CorrectionsP O Box 478970821(225) 342-6618
Dow Louisiana6725 Siegen Ln70809(225) 353-8238
E Federal Credit Union10719 Airline Hwy70816(225) 214-6800
E Federal Credit Union1939 S Sherwood Forest Blvd70816(225) 214-6800
Eagle La Federal Credit Union3949 North Blvd70806(225) 342-5730
Eagle LouisianaP.O. Box 6463070896(225) 927-1900
Eagle Louisiana504 N 5th St70801(225) 927-1900
Eagle Louisiana2271 College Dr70808(225) 927-1900
Eagle Louisiana Federal Credit Union3949 North St70806(225) 927-1900
East Baton Rouge Teachers4836 Plank Rd70805(225) 355-8896
Kaiser Employees Credit Union1733 Wooddale Blvd70806(225) 927-1710
KeypointPO Box 8721070879(225) 214-9400
Keypoint5423 S Sherwood Forest Blvd70816(225) 214-9400
Keypoint1836 Shada Ave70805(225) 214-9450
La CapitolP.O. Box 339870821(225) 342-5055
La Capitol7018 Siegen Ln70809(225) 342-5055
La Capitol7142 Florida Blvd70806(225) 342-5055
La Capitol700 Main St70801(225) 342-5055
La Capitol Federal Credit Union660 Laurel St70801(225) 342-5055
La Employment Security FCU950 N 22nd St70802(225) 342-3288
Lawilifie4637 Jamestown Ave70808(225) 663-6618
Louisiana Farm Bureau9516 Airline Hwy70815(225) 922-6405
LSU Credit Union6230 Perkins Rd70808(225) 769-8841
Louisiana USA FCUP O BOX 1574570895(225) 292-8910
Louisiana USA FCU9696 Plank Rd70807(225) 292-8910
Louisiana USA FCU10289 Airline Hwy70816(225) 292-8910
Louisiana USA FCUPo Box 1574570895(225) 292-8910
Main Street Financial1201 Capitol Access Rd70802(225) 387-5646
NeighborsPO Box 283170821(225) 819-2178
Neighbors13336 Hooper Rd70818(225) 819-2178
Neighbors7800 Howell Place Blvd.70807(225) 819-2178
Neighbors12529 Perkins Rd70810(225) 819-2178
Neighbors7844 Goodwood Blvd70806(225) 819-2178
Neighbors13697 Coursey Blvd70816(225) 819-2178
Olol Regional5000 Hennessy Blvd70808(877) 337-2843
Pelican StatePO Box 4008870835(225) 408-6100
Pelican State450 Lobdell Ave70806(225) 927-1733
Pelican State Credit Union2645 O'Neal Ln70816(225) 752-1185
Pelican State Credit Union11585 Lake Sherwood Ave N70816(225) 408-6100
PostalP.O. Box 16770821(225) 383-4109
Postal8101 Bluebonnet Blvd70810(225) 383-4109
Postal510 N 6th St70802(225) 383-4109
S.A.I.F.PO Box 7795970879(225) 292-5490
S.A.I.F.10190 Celtic Dr70809(225) 292-5490
Saif Federal Credit Union10190 Mayfair Dr70809(225) 292-5490
Southern Teachers & Parents728 Harding Blvd70807(225) 775-8597
Southwest Corporate FCU3101 Highland Rd70802(225) 343-0858