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The majority of us purchase our vehicles on credit, as not many of us have the capital available for an outright purchase. Unfortunately, securing financing can be a major pain, especially when your credit isn’t great. To streamline approval, you can apply on the web for a car loan.

A local auto finance consultant can help you get approved for financing, answering your questions in the process.

Car Loan Rates in Jackson

Most lenders don’t display Jackson auto finance rates based on FICO score. Instead, they give you the lowest rate available. Truth be told, your annual percentage rate varies widely based on your credit, not to mention other variables. The rates displayed below are only for informational purposes. They aren’t advertisements, and your exact rate could be very different.

Credit Score New Car Used Car
Excellent 3.4% 3.8%
Good 4.9% 5.4%
Average 7.1% 8.0%
Subprime 9.9% 10.1%
Bad 13.4% 13.6%
Very Bad 14.3% 15.1%

Used Car Loans in Jackson

Perhaps you have seen, finance companies charge slightly higher interest rates for used cars and trucks. Intelligent buyers, however, always go for pre-owned cars. You can finance a low-mileage used vehicle for a fraction of what it costs to finance a new one.

Age Price Rate Months Payment Interest Total Cost
New $19,000 6.00% 60 $367.32 $3,039 $22,039
1 Year $15,200 7.50% 60 $304.58 $3,075 $18,275
2 Years $12,920 7.50% 60 $258.89 $2,613 $15,533
3 Years $10,982 7.50% 60 $220.06 $2,221 $13,203

The second it leaves the dealership, a new car loses nearly a quarter of its value, and it continues depreciating every year. A car that cost $19,000 new will be worth just $10,982 after three years of ownership. Most loan providers allow you to finance a pre-owned car up to 10 years old, sometimes a bit less, and some cap the mileage at 100,000 miles.

Poor Credit Car Loans in Jackson

Bad credit makes it difficult to finance a car, but it isn’t impossible. To put it succinctly, your FICO score is used a measure of risk. Although bad credit always results in a higher rate of interest, you can now request quotes from multiple loan providers online.

In Jackson, buy here pay here car lots end up catering to consumers with considerable credit issues of one kind or another. The downsides are sizeable: ridiculous interest rates and multitudinous stipulations.

You will be better off with financing from a bank or credit union. This is how a lot of consumers get financed these days, and it’s considerably cheaper in the end.

Go here to apply online.

Jackson Credit Repair

If you need to decrease your interest rate, there are a number of options. First off, it’s smart to double check your credit report for mistakes. Many people don’t realize that, once each year, you can check your credit report completely free via annualcreditreport.com.

You can dispute any errors on your own, or get a company to help you. Other things that might reduce your APR:

  • Getting a friend or relative to cosign the loan.
  • Saving up for a larger down payment.
  • Agreeing to a shorter-term loan.

Zero Down Car Loans in Jackson

Are you hoping to get a car financed, but you don’t have cash to put down? Zero down finance offers, like 0% financing offers, are generally reserved for individuals with exceptional credit. If you haven’t got great credit, it’s best to start setting aside cash for a down payment, or you could find yourself paying an inflated rate of interest. That said, when you apply online, there are many loan companies and dealers that offer zero down car deals for buyers without optimal credit.

Jackson Resources

Credit Unions

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[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Street address,Zip Code,Telephone” data=”Healthplus,500 E Woodrow Wilson Ave,39216,(601) 354-6633,Hope Credit Union,4 Old River Pl,39202,(601) 944-1100,Hope Credit Union,350 W Woodrow Wilson Ave #370,39213,(601) 362-8050,Hope Credit Union,1748 Terry Rd,39204,(601) 961-6740,Hope Community Credit Union,350 W Woodrow Wilson Ave,39213,(601) 713-0976,Jackson Acco,1085 U.S. 80,39204,(601) 960-5240,Jackson Area,PO Box 1403,39215,(601) 922-7055,Jackson Area,5675 Hwy 18 W,39209,(601) 922-7055,JPFCE,600 E McDowell Rd,39204,(601) 985-4877,M S T C,P.O. Box 22828,39225,(601) 923-7445,Magnolia,240 Briarwood Dr,39206,(601) 977-8300,Magnolia,1600 E Woodrow Wilson Ave,39216,(601) 977-8300,MBHS,1225 N State St,39202,(601) 938-1213,MBHS,1151 N State St,39202,(601) 938-1213,Members Exchange,P O Box 31049,39286,(601) 922-3350,Miller Transporters,P. O. Box 1123,39215,(601) 922-8331,Mississippi FCU,PO BOX 55889,39296,(601) 984-1315,Mississippi FCU,2500 N State St,39216,(601) 984-1315,Mississippi Credit Union Association,1400 Lakeover Rd,39213,(601) 981-4552,Keesler Financial,Post Office Box 1850,39215,(601) 359-7900,Keesler Financial,401 N West St,39201,(601) 359-7900,Mississippi DHS,767 N President St,39202,(601) 354-6544,Mississippi Farm Bureau Employees,1401 Livingston Ln,39213,(601) 981-7422,Mississippi Farm Bureau Employees,6311 Ridgewood Rd,39211,(601) 977-4369,Mississippi Highway Safty Pat,P.O. Box 958,39205,(601) 987-1290,Mississippi Highway Safty Pat,1900 E Woodrow Wilson Ave,39216,(601) 987-1290,Mississippi National Guard,142 Military Dr,39232,(601) 932-5194,Mississippi Postal Employees,PO Box 567,39205,(601) 355-6363,Mississippi Postal Employees,567 S State St,39201,(601) 355-6363,Mississippi Public Employees,613 S West St,39201,(601) 948-8191,Riverland,1340 Echelon Pkwy,39213,(601) 368-5200,Treasury Employees,100 W Capitol St,39269,(601) 355-5411,Treasury Employees,100 W Capitol St #1059,39269,(601) 355-5411,Valley Gas Employees,1400 Lakeover Rd #140,39213,(601) 362-7623,Valued Members,PO BOX 9641,39286,(601) 366-7401,Valued Members,5482 N State St,39206,(601) 366-7401″][/tboot_table]

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