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For many Springfield car-buyers, getting a loan is necessary to buying a new car, truck, or SUV. For those who have excellent credit, this is an easy process. For those who have less-than-perfect credit, however, it can be challenging. We can help you get approved for your car loan online, at a low rate, no matter your credit score. You could be behind the wheel of a new car in no time flat.

Auto Finance Rates in Springfield

What will your rate of interest be? Truth be told, your annual percentage rate differs greatly based on your credit score, among other variables. The rates shown below are only for informational purposes. They’re not advertisements, and your exact rate could be very different.

FICO Rating New Car Used Car
Excellent 3.3% 3.5%
Good 4.7% 4.8%
Average 6.8% 7.8%
Subprime 9.1% 10.3%
Bad 13.0% 13.7%
Very Bad 13.5% 14.9%

Have you reviewed your credit score of late? You really should. You will find a wealth of places to check your credit. Here’s one of the best to do so: link.

Used Car Loans in Springfield

New cars and trucks have the most affordable rates of interest. Smart buyers, however, always buy used cars. Below, we compare the cost of a loan for a car or truck that is brand new versus a few years old.

Age Price APR Months Payment Interest Total
New $18,300 6.00% 60 $353.79 $2,927 $21,227
1 Year $14,640 7.50% 60 $293.36 $2,961 $17,601
2 Years $12,444 7.50% 60 $249.35 $2,517 $14,961
3 Years $10,577 7.50% 60 $211.95 $2,140 $12,717

A pre-owned car is an excellent option, regardless of whether you’re financing or paying cash. Most of the time, you can get a car loan for a car that is up to ten years old. Mileage constraints often apply.

Poor Credit Car Loans in Springfield

Credit scores of 680 or less are often regarded as subprime, and those below 620 are simply bad. If you have a credit score of 700 or above, you shouldn’t have any problem locking down financing, but approval and annual percentage rate both become factors if you have a low credit score. Years ago, shoppers had to go from lender to lender, trying to find one willing to offer them financing. Fortunately, technological advances have phased out a lot of this legwork.

It is best to keep away from no credit check auto lots. These buy here pay here dealers are known for aggressive sales tactics. The downsides are substantial, and they include exorbitant interest rates and rigid terms.

It’s best to keep clear of these dealers when possible, obtaining an auto loan online. The down payments are cheaper, the same as the rates, and the service is far superior.

Contact an auto finance professional in your area today.

Can a Car Loan Improve Your Credit?

Your payment history has a significant influence on your credit score. Paying off an auto loan strengthens that payment history, boosting your credit score in the process. If you decide to work with a BHPH car lot, you simply won’t have this ability. You’ll want to enroll in automatic payments, as this will stop you from forgetting payments.

Springfield Resources

Credit Unions


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[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Location,Zip,Telephone” data=”Americas,2350 E Bennett St,65804,(417) 881-0482,AGCU,1535 N Campbell Ave,65803,(417) 831-4398,AGCU,1455 W Battlefield St,65807,(417) 831-4398,AGCU,1776 E Independence St,65804,(417) 831-4398,AGCU,248 E Primrose St,65807,(417) 887-5770,City Utilities Employees Credit Union,2500 N Partnership Blvd,65803,(417) 864-5307,Community Financial,P.O. Box 1217,65801,(417) 862-0471,Community Financial,815 W Tampa St,65802,(417) 862-0471,Community Financial,1220 E Walnut Lawn St,65804,(417) 862-0471,Cu Community,818 N Benton Ave,65802,(417) 865-3912,Cu Community,1017 E Republic Rd,65807,(417) 865-3912,District 8 Highway Employees,PO Box 868,65801,(417) 895-7607,District 8 Highway Employees,3025 E Kearney St,65803,(417) 895-7607,Educational Community,1221 E Grand St,65804,(417) 831-0534,Greater Ozarks Community,2363 W Division St,65802,(417) 862-1880,Metro,447 S Campbell Ave,65806,(417) 869-9654,Metro,3868 South Ave,65807,(417) 887-3388,Postal Federal Community,1770 W Sunset St,65807,(417) 887-1983,Postal Federal Community,1983 E Seminole St,65804,(417) 887-1983,Southwest Missouri,1620 W Elfindale St,65807,(417) 864-6767,Southwest Missouri,1000 E Primrose St,65807,(417) 877-9041,Springfield Catholic,1029 S Campbell Ave,65807,(417) 862-7074,Springfield News-Leader CU,651 N Boonville Ave,65806,(417) 836-1203,Springfield Teachers,1131 N Boonville Ave,65802,(417) 895-2770,St Johns Employees,1444 E Sunshine St,65804,(417) 820-2931,St Johns Employees,1235 E Cherokee St,65804,(417) 820-2932,Telcomm Credit Union,2155 E Sunshine St,65804,(417) 886-5355,Telcomm Credit Union,400 E Chestnut Expy,65806,(417) 831-5755,Telcomm Credit Union,2416 W Battlefield Rd,65807,(417) 881-8814,Telcomm Credit Union,2416 W Battlefield St,65807,(417) 881-8814,Telcomm Credit Union,400 E Chestnut St,65806,(417) 831-5755″][/tboot_table]