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For the majority of St Louis car-shoppers, getting financed is an essential part of buying a new car, truck, or SUV. Ordinarily, the loan provider retains a lien on the car or truck during the course of the loan. You’ll need to carry full coverage insurance during this time, to ensure that you’ll have enough cash to repay the loan in case of an accident. Rather than sweating it out at the dealer or bank, you can submit an application for financing online.

A local auto finance expert can help you get approved for financing, answering your questions at the same time.

Car Loan Rates in St Louis

Down below we’ve got rates you can expect at varying credit scores. These are not to be perceived as advertisements. Variables that affect your actual rate of interest include, most importantly, your FICO score, but also a wealth of other factors

FICO Rating New Car Pre-owned 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%

Used Auto Loans in St Louis

Pre-owned autos aren’t as expensive, but the loan rates are somewhat elevated as compared with brand new cars. However, pre-owned cars are a better value over the long haul, and they depreciate less. Here, we examine the costs of a loan for a car or truck that’s brand new versus 1-3 old.

Years Old Price APR Months Payment Interest Total Cost
New $18,400 6.00% 60 $355.72 $2,943 $21,343
1 Year $14,720 7.50% 60 $294.96 $2,978 $17,698
2 Years $12,512 7.50% 60 $250.71 $2,531 $15,043
3 Years $10,635 7.50% 60 $213.11 $2,151 $12,786

Many cars depreciate 15% per annum, so a new car you buy for $18,400 will be worth $14,720 after just one year of ownership. Typically, you can get an auto loan for a car that is up to a decade old. Mileage limitations often apply.

Bad Credit Auto Loans in St Louis

Credit score plays a key part in approval and rate of interest. It’s a simple fact: the better your credit, the lower your rate of interest will be. Fortunately, the internet has made it much easier for the consumer with unfavorable credit ratings.

Of course, you have to be watch out for aggressive tactics. St Louis’s buy here pay here car dealers are slightly infamous in this regard. The downsides are sizeable, such as excessively high interest rates and multitudinous conditions. Whenever feasible, you’ll want to obtain your loan through one of these lenders:

  • National or regional bank.
  • Credit union in your area.
  • Vehicle finance company.

A dealership or finance professional will help you secure financing from one of these loan providers. The rates will be less expensive, the terms improved, and you have the ability to rebuild your credit along the way.

Contact an auto finance professional in your area today.

No Down Payment Car Loans in St Louis

The cash required to finance a new vehicle can be as much if not more than the price of a used one. In most cases, a couple of conditions are required for no down payment financing:

  • The vehicle is brand new.
  • The shopper has exceptional credit.

If you don’t have great credit, it is better to start setting aside money for a down payment, or else you could end up paying an outrageous rate of interest. With that being said, when you apply online, there are many brokers and dealerships that do offer 100% financing, even for customers who don’t have the most ideal credit.

St Louis Resources

Credit Unions

Credit UnionAddressZipTelephone
1st City5011 Hampton Ave63109(314) 353-6676
1st Financial1407 Washington Ave63103(636) 916-8300
Aerospace Community Credit Union1409 Washington Ave63103(314) 231-5114
African American Credit Union7274 S Winchester Dr63121(314) 381-3383
All-Saints Credit Union Inc5010 Terry Ave63115(314) 361-0338
Alliance9050 W Florissant Ave63136(636) 343-7005
American Airlines10701 Lambert International Blvd63134(314) 253-4690
American Eagle Credit Union1028 Old Des Peres Rd63131(314) 821-2442
Anheuser-Busch Employees CU1001 Lynch St63118(314) 771-7700
Anheuser-Busch Employees CU9895 Watson Rd63126(314) 835-2900
Anheuser-Busch Employees CU2175 Barrett Station Rd63131(314) 821-2442
Anheuser-Busch Employees CU4650 Hampton Ave63109(314) 832-8500
Anheuser-Busch Employees CU3805 Union Rd63125(314) 894-3555
Anheuser-Busch Employees CU13275 Manchester Rd63131(314) 821-2442
Arsenal3200 S 2nd St63118(314) 962-6363
Arsenal8651 Watson Rd63119(314) 962-6363
Biometric Digest4114 Ricewood Dr63129(314) 892-8632
Catholic Knights455 Oleatha Ave63116(314) 351-1029
Catholic Knights Of America4545 Oleatha Ave63116(314) 351-1030
Cds Credit Union8510 Banister Dr63125(816) 763-4020
Century1540 Lemay Ferry Rd63125(314) 544-1818
Choices4471 Arco Ave63110(314) 535-9900
Co - Lib1640 S Lindbergh Blvd63124(314) 994-3300
Credit Union Lending Systems11400 Concord Village Ave63123(314) 487-5580
Electro Savings1850 Craigshire Rd #20363146(314) 434-6470
Electro Savings Credit Union1805 Craigshire Rd63146(314) 434-0267
First Community4527 Telegraph Rd63129(636) 728-3333
First Community4249 Watson Rd63109(636) 728-3333
First Community Credit Union5496 Baumgartner Rd63129(314) 845-3665
First Community Credit Union8575 Watson Rd63119(314) 432-1029
First Missouri1690 Lemay Ferry Rd63125(314) 544-5050
First Missouri4102 1st Missouri Cu Dr63129(314) 544-5050
Four FourPO Box 44263166(314) 444-8904
Four Four Credit Union411 Locust St63102(314) 444-8904
Gateway Metro1001 Pine St63101(314) 621-4575
Gateway Metro909 Chestnut St63101(314) 621-4575
Gateway Metro2155 Barrett Station Rd63131(314) 621-4575
Gateway Metro4566 Lemay Ferry Rd63129(314) 621-4575
Gateway Metro9201 Watson Rd63126(314) 621-4575
Gateway Metro1222 Spruce St63103(314) 621-4575
Gateway Metro4300 Goodfellow Blvd63120(314) 621-4575
Gateway Regional6401 Stratford Ave63120(314) 385-8800
Health Care Family2114 S Big Bend Blvd63117(314) 645-5851
Healthcare Family Credit Union525 Couch Ave63122(314) 966-4409
Laclede Family Savings CU720 Olive St63101(314) 241-2979
Laclede Family Savings CU720 Olive Street Lbby63101(314) 241-2979
MAWC727 Craig Rd63141(314) 996-2399
Meridian Credit Union2101 S Jefferson Ave63104(314) 772-3438
Missouri Credit Union12400 Tesson Ferry Rd63128(314) 849-5050
Missouri Credit Union Association2055 Craigshire Rd63146(314) 542-0555
Neighbors6300 S Lindbergh Blvd63123(314) 892-5400
Neighbors1720 Market St63103(314) 231-1549
Proctor & Gamble St. Louis Emp. CU169 E Grand Ave63147(314) 622-8209
Purina Credit Union1045 Chouteau Ave63102(314) 982-2888
Purina Credit Union801 Chouteau Ave63102(314) 982-2888
South Community Credit Union8814 Gravois Rd63123(314) 631-3888
Southpointe4702 Mattis Rd63128(314) 487-5628
Southpointe4591 Chestnut Park Plaza63129(314) 487-5628
St Anthonys Credit Union3114 Meramec St63118(314) 353-6676
St Bernadette Credit Union4343 Telegraph Rd63129(314) 892-6325
St Louis Firefighters Credit Union1421 N Jefferson Ave63106(314) 752-5444
St Louis Postal Credit Union1720 Market Street Rm G23563155(314) 231-1549
St Margarets Parish Credit Union4067 Shenandoah Ave63110(314) 865-3133
St. Cecilia ParishP. O. Box 1860763118(314) 481-7881
St. Louis Carpenters1401 Hampton Ave #15263139(314) 647-6596
St. Louis Carpenters1401 Hampton Ave63139(314) 647-6596
St. Louis Community3651 Forest Park Ave63108(314) 534-7610
St. Louis Community4435 Chippewa St63116(314) 534-7610
St. Louis Community7224 Gravois Ave63116(314) 534-7610
St. Louis Community1436 S Big Bend Blvd63117(314) 534-7610
St. Louis Firefighters & Community5530 Fyler Ave63139(314) 752-5444
St. Louis Policemen's1200 Clark Ave63103(314) 444-5392
Union MemorialP O Box 1168663105(314) 367-6149
Unite Burlington1547 S Broadway63104(314) 621-1950
Vantage Credit Union4545 Lemay Ferry Rd63129(314) 298-0055
Vantage Credit Union3860 S Lindbergh Blvd63127(636) 298-0055
West Community Credit Union2345 S Brentwood Blvd63144(636) 720-2400
West Community Credit Union465 S Kirkwood Rd63122(636) 720-2400
West Community Credit Union1 N Jefferson Ave63103(314) 371-4269
West Side Federal Credit Union4673 Page Blvd63113(314) 535-1012