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Car loans allow you to make monthly payments on a vehicle that you would not be able to purchase otherwise. If you’ve got exceptional credit, this is a pretty basic process. If you’ve got bad credit, however, it can be a major hassle. To speed up the process, you can apply online for your car loan. There are experts waiting to help you get an auto loan with a rate you can afford.

Auto Loan Rates in St Paul

Few banks, credit unions, and car loan websites provide loan rates in St Paul based on credit score. Instead, they give you the best rate they offer. In reality, your interest rate varies greatly based on your credit, not to mention other factors. The rates displayed below are only for informational purposes. They aren’t advertisements, and your actual rate could be very different.

Credit Score New Car Pre-owned Car
Excellent 3.1% 3.3%
Good 4.4% 4.6%
Average 6.3% 6.7%
Subprime 8.4% 9.5%
Bad 13.5% 15.9%
Very Bad 14.7% 17.6%

Used Car Loans in St Paul

Second hand vehicles don’t cost somuch, but the APR rates are a little elevated. However, a second hand car loan has all kinds of advantages:

  • Less percentage down required.
  • Lower sticker price.
  • Reduced risk of negative equity.

Have a look at the numbers below.

Age Price APR Months Payment Interest Total
New $18,500 6.00% 60 $357.66 $2,959 $21,459
1 Year $14,800 7.50% 60 $296.56 $2,994 $17,794
2 Years $12,580 7.50% 60 $252.08 $2,545 $15,125
3 Years $10,693 7.50% 60 $214.27 $2,163 $12,856

Are you interested in pre-owned car or truck? Most loan companies will allow you to finance a second hand vehicle up to eight years old, and some have a mileage cap of 100K miles.

Bad Credit Auto Loans in St Paul

Has your credit been damaged by bankruptcy, repossession, or other such issues? In simple terms, your credit score is used a measure of risk. Before the net, you didn’t have much option but to accept whatever interest rate and terms they presented you. Today, there are better ways to get financed.

It may seem like a buy here pay here dealer is the quickest choice. Most of these dealerships don’t check your credit, and they offer inexpensive, pre-owned cars and trucks. The downsides are appreciable, including outrageous rates and arrays of conditions. You will be better off with a car loan from a bank or lender, which you can do through conventional dealers. A traditional loan company will report to the credit agencies, meaning your credit score will get better if you make your payments on schedule.

Contact an auto finance professional in your area today.

No Money Down Financing in St Paul

Down payments are usually a requirement in order to get a car financed. No down payment finance deals, like zero percent financing packages, are ordinarily reserved for individuals with excellent credit. Assuming you have below-average credit, there is only one real option: locate a car dealer that accepts trade-ins, and check if they can accept your old car in lieu of a down payment.

St Paul Resources

Credit Unions

Credit UnionLocationZip CodeTelephone
Affinity Plus FCU175 W Lafayette Frontage Rd55107(651) 312-9252
Affinity Plus FCU95 Sherburne Ave55103(651) 312-9754
Affinity Plus FCU3533 Lexington Ave N55126(651) 312-9600
Associated Health Care360 Sherman St55102(651) 241-8233
Baxter4100 Hamline Ave N55112(651) 582-3392
Bcbsm Federal Credit Union1252 Yankee Doodle Rd55121(651) 452-3131
C U Auto Resource Center500 Main St55112(651) 631-3111
Carpenters720 Olive St55130(651) 646-8827
Catholic United Financial3499 Lexington Ave N55126(651) 765-4132
Cities Credit Union3625 Talmage Cir #10255110(651) 426-3773
City & County144 11th St E55101(651) 225-2700
City & County Credit Union1420 Yankee Doodle Rd55122(651) 289-3500
Como Northtown Community976 Lexington Pkwy N55108(651) 488-2535
Ecolab370 Wabasha St N55102(651) 293-2441
Employees First2250 Wabash Ave55114(651) 641-4230
Farm Credit Employees375 Jackson St #10055101(651) 282-8880
Gcm Federal Credit Union684 Transfer Rd55114(651) 646-0933
H.B.I. Employees3415 University Ave W55114(651) 642-4490
Healtheast Employees1700 University Ave W55104(651) 232-5600
Healtheast Employees45 W 10th St55102(651) 232-3600
HeartlandPO Box 6460855164(651) 451-5160
Highgrove Community FCU742 Grand Ave55105(651) 698-8801
Highgrove Community FCU680 Cleveland Ave S55116(651) 698-8801
Hiway111 Empire Dr55103(651) 291-1515
Hiway395 John Ireland Blvd55103(651) 291-0909
Hiway1 Federal Dr55111(612) 726-1810
Hmong American388 Western Ave N55103(651) 228-0455
Ibew Local 110 Electrical Industry Bldg1330 Conway St55106(651) 776-4239
Members First Credit Union3880 Sibley Memorial Hwy55122(651) 994-4704
Metropolitan Services475 Etna St #1055106(651) 602-8105
Metropolitan Services475 Etna St55106(651) 602-8105
Metropolitan Services Credit Union2400 Childs Rd55106(651) 602-8105
Mid-States Cfcu3020 Denmark Ave55121(651) 234-2400
Minnesota Building Trades FCU3353 Rice St55126(651) 486-9075
Northern States Power - St. Paul825 Rice St55117(651) 229-2221
Novation225 Skyway Dr55119(651) 739-8080
Pace Credit Union161 Marie Ave E55118(651) 451-8495
Pipefitters-Steamfitters411 S Main St #10255102(651) 227-0771
Postal Credit Union8499 Tamarack Rd55125(651) 770-7000
Retail Employees Credit Union1685 Robert St S55118(952) 930-0700
Royal324 Roselawn Ave E55117(952) 933-9000
Smw Federal Credit Union1691 Cope Ave E55109(651) 747-1500
Soo Line475 Etna St #755106(651) 793-0830
Soo Line Credit Union1694 Suburban Ave55119(651) 771-3530
Spire56 E 6th St55101(651) 215-3500
St Johns Little Canada Credit Union400 Little Canada Rd E55117(651) 484-0265
St. Pascal Parish1757 Conway St55106(651) 260-2124
St. Paul1330 Conway St #20055106(651) 772-8744
St. Paul1622 White Bear Ave N55106(651) 772-8744
St. Paul30 7th St E #27055101(651) 772-8744
St. Thomas Employee2115 Summit Avenue LOR 20955105(651) 962-6660
Think Federal Credit Union400 Robert St N55101(651) 288-1010
Town & Country Credit900 Long Lake Rd55112(651) 846-3972
Trustone Financial757 Cleveland Ave S55116(763) 544-1517
Twin City Co-Ops Federal Credit Union8700 University Ave W55101(651) 215-3500
U S E Federal Credit Union316 N Robert St55101(651) 227-8249
United Educators Credit Union6789 Upper Afton Rd55125(651) 264-0669
Unity OneGaltier St55101(651) 298-7103
Unity One Federal Credit Union380 Jackson St55101(651) 298-7103
Usa Federal Credit Union2285 Walnut St55113(651) 633-8443
Vip Metro Federal Credit Union1563 White Bear Ave N55106(651) 774-0818
Wings Financial1804 7th St W55116(651) 698-8801
Wings Financial Federal Credit Union14985 Glazier Ave55124(952) 997-8000