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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


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[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Street address,Zip,Phone” data=”A C M G,4800 S Salina St,13205,(315) 701-4466,Acmg Federal Credit Union,1804 S Salina St,13205,(315) 701-4466,Agway Employees Federal Credit Union,Po Box 3247,13220,(315) 455-2300,Americu,6303 Thompson Rd,13206,(315) 432-1971,Americu,200 Walton St,13202,(315) 413-4650,Beacon Federal Credit Union,3002 James St,13206,(315) 437-8227,Countryside,P.O. Box 3247,13220,(315) 445-2300,Crouse,730 S Crouse Ave,13210,(315) 470-7928,Crouse Hinds Employees, 4999,13221,(315) 477-5384,Crouse Hinds Federal Credit Union Po,Po Box 4999,13221,(315) 477-5384,E S M Ns Federal Credit Union,651 Centerville Pl,13212,(315) 452-0637,Empower,PO BOX 11127,13218,(315) 477-2200,Empower,515 Erie Blvd W,13204,(315) 477-2200,Empower,300 Erie Blvd W,13202,(315) 477-2200,Empower,800 Irving Ave,13210,(315) 477-2200,Financial Assurance,120 Madison St,13202,(315) 477-4195,Focal Point,6555 Ridings Rd,13206,(315) 463-8333,I B E W Local 43 Federal Credit Union,615 W Genesee St,13204,(315) 478-1372,Money,PO BOX 957,13201,(315) 671-4000,Money,100 Madison St,13202,(315) 671-4000,Mony Federal Credit Union,Po Box 4830,13221,(315) 477-4189,Onondaga Federal Credit Union,320 Tracy St,13204,(315) 435-2178,P & C Employees Federal Credit Union,933 State Fair Blvd,13209,(315) 468-0699,Power Federal Credit Union,625 Erie Blvd W,13204,(315) 474-1226,Secny,4727 West Seneca Turnpike P.O. Box,13215,(315) 469-5599,Secny,4727 W Seneca Turnpike,13215,(315) 469-5599,Secny,3819 Brewerton Rd,13212,(315) 214-2995,State Employees,107 Simon Dr,13224,(518) 452-8234,State Employees,721 S Crouse Ave,13210,(518) 452-8234,State Employees,401 S Salina St,13202,(518) 452-8234,Syracuse Cooperative,800 N Salina St #200,13208,(315) 471-1116,Syracuse Cooperative,401 South Ave,13204,(315) 473-0280,Syracuse Cooperative,800 N Salina St,13208,(315) 471-1116,Syracuse Cooperative Fcu,723 Westcott St,13210,(315) 471-1116,Syracuse Federal Credit Union,5992 E Molloy Rd,13211,(315) 437-2307,Syracuse Federal Credit Union – Federal Branch,525 Federal,13202,(315) 422-7976,Syracuse Fire Department Employees,211 Wilkinson St,13204,(315) 471-4621,Syracuse Postal,5640 E Taft Rd,13220,(315) 458-5550,The Summit,428 E Genesee St,13202,(585) 453-8630,The Summit,1400 Erie Blvd E,13210,(585) 453-8640,The Summit,421 Montgomery St,13202,(585) 453-8626,The Summit,100 S Clinton St,13202,(585) 453-7000,Ukrainian,211 Tompkins St,13204,(315) 471-4074,Visions,500 Erie Blvd E,13202,(315) 479-1580,Visions Federal Credit Union,500 Erie Blvd W,13204,(315) 424-6240″][/tboot_table]