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In today’s world, you’ll find it extremely difficult to purchase a new car if you don’t qualify for a loan or lease. Unfortunately, getting approved for this kind of loan can be a mind-numbing process, keeping you from getting the car you want. Instead of spending hours at the dealership or finance company, you can apply for your car loan online.

A local finance expert can direct you through the process, helping you obtain the financing you need from a lender you can trust.

Auto Loan Rates in Syracuse

Down below we’ve got rates of interest estimated at various credit scores. These aren’t to be viewed as advertisements. Actual rates vary.

FICO Score New Car Pre-owned Car
Excellent 3.3% 3.5%
Good 4.6% 4.9%
Average 6.6% 6.9%
Subprime 9.2% 9.4%
Bad 13.3% 14.0%
Very Bad 14.2% 15.5%

Used Auto Loans in Syracuse

New vehicles have the lowest rates. Having said that, financing a used car or truck is smarter, since the overall cost will be substantially less. You can finance a solid used vehicle for half what it costs to finance a brand new one.

Years Old Price APR Months Payment Interest Total
New $19,100 6.00% 60 $369.26 $3,055 $22,155
1 Year $15,280 7.50% 60 $306.18 $3,091 $18,371
2 Years $12,988 7.50% 60 $260.25 $2,627 $15,615
3 Years $11,040 7.50% 60 $221.21 $2,233 $13,273

Interested in a used car or truck? Loan providers charge higher interest rates for pre-owned cars, but in many cases, you only need 10% down, and the insurance premiums are less expensive.

Poor Credit Auto Loans in Syracuse

Your FICO score is critical when financing a car. Improved FICO scores often lead to decreased rates, but there is a lot more to the equation. Although subprime credit always results in a more expensive rate of interest, you can now request quotes from an assortment of loan providers online.

Many consumers with unfavorable credit ratings wind up at one of Syracuse’s buy here pay here car dealers. These retailers approve financing internally, sans credit check. While you will have no problem getting approved, you’ll be taxed a lot for the opportunity.

It is best to keep clear of these dealers if at all possible, obtaining an auto loan online. This is how many individuals get approved, and it’s much cheaper in the end.

Best of all, you can submit your application online.

Can a Car Loan Improve Your Credit?

Much of your credit score is based on payment history. Paying off a financed vehicle builds out that payment history, boosting your credit score in the process. It is important to understand that this is a step by step process. Though the actual increase in your credit score is tough to estimate, the improvement is considerable.

Syracuse Resources

Credit Unions

Credit UnionStreet addressZipPhone
A C M G4800 S Salina St13205(315) 701-4466
Acmg Federal Credit Union1804 S Salina St13205(315) 701-4466
Agway Employees Federal Credit UnionPo Box 324713220(315) 455-2300
Americu6303 Thompson Rd13206(315) 432-1971
Americu200 Walton St13202(315) 413-4650
Beacon Federal Credit Union3002 James St13206(315) 437-8227
CountrysideP.O. Box 324713220(315) 445-2300
Crouse730 S Crouse Ave13210(315) 470-7928
Crouse Hinds 499913221(315) 477-5384
Crouse Hinds Federal Credit Union PoPo Box 499913221(315) 477-5384
E S M Ns Federal Credit Union651 Centerville Pl13212(315) 452-0637
EmpowerPO BOX 1112713218(315) 477-2200
Empower515 Erie Blvd W13204(315) 477-2200
Empower300 Erie Blvd W13202(315) 477-2200
Empower800 Irving Ave13210(315) 477-2200
Financial Assurance120 Madison St13202(315) 477-4195
Focal Point6555 Ridings Rd13206(315) 463-8333
I B E W Local 43 Federal Credit Union615 W Genesee St13204(315) 478-1372
MoneyPO BOX 95713201(315) 671-4000
Money100 Madison St13202(315) 671-4000
Mony Federal Credit UnionPo Box 483013221(315) 477-4189
Onondaga Federal Credit Union320 Tracy St13204(315) 435-2178
P & C Employees Federal Credit Union933 State Fair Blvd13209(315) 468-0699
Power Federal Credit Union625 Erie Blvd W13204(315) 474-1226
Secny4727 West Seneca Turnpike P.O. Box13215(315) 469-5599
Secny4727 W Seneca Turnpike13215(315) 469-5599
Secny3819 Brewerton Rd13212(315) 214-2995
State Employees107 Simon Dr13224(518) 452-8234
State Employees721 S Crouse Ave13210(518) 452-8234
State Employees401 S Salina St13202(518) 452-8234
Syracuse Cooperative800 N Salina St #20013208(315) 471-1116
Syracuse Cooperative401 South Ave13204(315) 473-0280
Syracuse Cooperative800 N Salina St13208(315) 471-1116
Syracuse Cooperative Fcu723 Westcott St13210(315) 471-1116
Syracuse Federal Credit Union5992 E Molloy Rd13211(315) 437-2307
Syracuse Federal Credit Union - Federal Branch525 Federal13202(315) 422-7976
Syracuse Fire Department Employees211 Wilkinson St13204(315) 471-4621
Syracuse Postal5640 E Taft Rd13220(315) 458-5550
The Summit428 E Genesee St13202(585) 453-8630
The Summit1400 Erie Blvd E13210(585) 453-8640
The Summit421 Montgomery St13202(585) 453-8626
The Summit100 S Clinton St13202(585) 453-7000
Ukrainian211 Tompkins St13204(315) 471-4074
Visions500 Erie Blvd E13202(315) 479-1580
Visions Federal Credit Union500 Erie Blvd W13204(315) 424-6240