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Buying a new car or truck without a loan or lease is pretty unusual in this day and age. You can elect to line up your car loan through the dealership, though this can be very time-consuming. To hasten the process, you can apply online for financing.

You could be in the driver’s seat of a new car before you know it.

Auto Finance Rates in Sante Fe

Keep in mind, the rates below should not be seen as advertisements, but instead estimates at the time of publication. Your actual interest rate will be determined by quite a number of variables, including lender, down payment, average income, type of vehicle, and much more.

FICO Score New Car Pre-owned Car
Excellent 3.3% 3.6%
Good 4.7% 5.5%
Average 6.6% 8.2%
Subprime 9.2% 10.5%
Bad 13.8% 16.1%
Very Bad 16.5% 18.2%

Used Car Auto Loans in Sante Fe

New vehicles have the most affordable interest rates. If building wealth is important to you, however, you might want to opt for a second hand car. The numbers speak on their own.

Age Price APR Months Payment Interest Total Cost
New $16,800 6.00% 60 $324.79 $2,687 $19,487
1 Year $13,440 7.50% 60 $269.31 $2,719 $16,159
2 Years $11,424 7.50% 60 $228.91 $2,311 $13,735
3 Years $9,710 7.50% 60 $194.58 $1,964 $11,675

A pre-owned vehicle makes a great option, whether you’re getting a loan or not. Below are the common limitations on used vehicle financing:

  • Vehicle not more than 7-10 years old.
  • Mileage no greater than 100,000.
  • Bought through dealer, not private party.

Poor Credit Car Loans in Sante Fe

Below-average credit makes it tricky to finance a car, but it isn’t out of the question. Quite frankly, when you’ve got a bad credit score, a single digit interest rate is a pipe dream. Years ago, consumers had to go from bank to bank, in search of one willing to approve their loan. Fortunately, technological advances have gotten rid of a lot of this groundwork.

Buy here pay here financing is a second option. While you probably won’t have problems getting financed, it’ll cost you handsomely for the opportunity. You will be better off with financing from a bank, credit union, or lender. The interest rates will undoubtedly be less expensive, the terms better, and you have the opportunity to improve your credit along the way.

Go here to apply online.

Sante Fe Credit Improvement

If you need to decrease your interest rate, there are a number of options. A large percentage of potential buyers have inaccuracies on their credit histories. These kinds of inaccuracies could be negatively affecting your credit score, and you don’t even know it. You can pull your credit free of charge at, a service offered by the three major credit bureaus.

Fixing any discrepancies–a not too difficult process–could bring about major advances in your credit score. In some instances, putting a cosigner on your finance package could also trim your rate of interest.

No Down Payment Cars in Sante Fe

Normally, you still need a good bit of cash to get the car you want, as a down payment of 10-20% is normally a necessity.

The down payment diminishes lender investment in the vehicle, and it makes up for the rapid drop in value you see with any new vehicle sale. If you don’t have excellent credit, it’s easier to save for a down payment, or you could end up paying an exorbitant rate of interest. However, when you apply online, there are many lenders and dealerships that will offer 100% financing, even for buyers without optimal credit.

Sante Fe Resources

Credit Unions

Credit UnionLocationZip CodePhone
Del Norte510 N Guadalupe St87501(505) 455-5228
Del Norte3286 Cerrillos Rd87507(505) 455-5228
Del Norte403 W Cordova Rd87505(505) 455-5228
Guadalupe3601 Mimbres Ln87507(505) 982-8942
Guadalupe1310 Osage Ave87505(505) 982-8942
Guadalupe600 N Guadalupe St87501(505) 982-8942
Guadalupe4641 Airport Rd Suite487507(505) 982-8942
Guadalupe1101 Don Diego Ave87505(505) 982-8942
Guadalupe Credit Union1305 Osage Ave87505(505) 982-8942
New Mexico Correctional Empl1017 Camino Del Gusto87507(505) 471-7839
New Mexico Educators913 W Alameda St87501(505) 889-7755
New Mexico Educators1710 St Michaels Dr87505(505) 889-7755
Northern New Mexico School Employee614 Alta Vista St87505(505) 982-3802
PermacultureP.O. Box 2930087592(505) 954-3479
Permaculture4250 Cerrillos Road87507(505) 954-3479
State Employees813 ST. MICHAEL'S DRIVE87505(505) 983-7328
State Employees4250 Cerrillos Rd87507(505) 473-2019
State Employees CU Of New MexicoRodeo Road Branch87505(505) 983-7328
Union Protectiva De Santa Fe345 Camino Del Monte Sol87501(505) 983-9886