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Are you hoping to finance a car in New Hampshire? You can line up a car loan on the lot, but this isn’t always a trouble-free process. Generally, it’s a good idea to put together your loan beforehand.

Banks and dealers will fight to finance your credit, putting you behind the wheel of the financing process.

Auto Finance Rates in New Hampshire

Wondering about the rate of interest you will be charged? In reality, your rate of interest can vary widely based on your credit score, among a variety of other variables. The rates shown below are only for informational purposes. They are not advertisements, and your precise rate will vary.

Credit Score New Car Used Car
Excellent 3.0% 3.6%
Good 4.1% 5.0%
Average 6.2% 9.0%
Subprime 10.1% 11.6%
Bad 13.4% 15.0%
Very Bad 13.4% 15.2%

You need to know what your credit rating is. We suggest going here.

Used Auto Loans in New Hampshire

Some people stay away from pre-owned cars because the interest rates are more expensive. However, used vehicles are more affordable over the long haul, and they require smaller down payments. Take a look at the chart below.

Age Price Rate Months Payment Interest Total
New $23,800 6.00% 60 $460.12 $3,807 $27,607
1 Year $19,040 7.50% 60 $381.52 $3,851 $22,891
2 Years $16,184 7.50% 60 $324.29 $3,274 $19,458
3 Years $13,756 7.50% 60 $275.65 $2,783 $16,539

Once it leaves the dealership, a new vehicle loses as much as 25% of its value, and it keeps depreciating year after year. A car or truck that cost $23,800 when new will be worth only about $13,756 after 36 months of ownership. Most of the time, you can finance a vehicle that is up to 10 years old. Mileage limits often apply.

Bad Credit Car Loans in New Hampshire

Have you got a credit rating of less than 620? When deciding your interest rates, lenders look at your history of payments on previous auto loans and leases. Although below-average credit always results in a more expensive interest rate, you can now request quotes from multiple loan providers online.

In New Hampshire, buy here pay here dealers end up assisting people in the lower credit levels The APR rates are very high, and the vehicles are always second hand, sometimes with lots of miles.

You will be better off with financing from a traditional bank or lender. An established loan company will report to the credit reporting agencies, which means your credit score will increase if you keep making your payments as agreed.

Contact an auto finance professional in your city today.

New Hampshire Resources