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In today’s times, it’s extremely tough to buy a new car if you aren’t approved for a vehicle loan or lease. Many times, your auto loan will be arranged with the dealer’s help, but this can take a long time. To hasten approval, you can submit an application on the web for a car loan. A local Eugene auto loan expert can help you get approved for financing, answering your questions in the process.

Car Loan Rates in Eugene

These interest rates are only for informational purposes. They’re not advertisements. Your precise interest rate could differ significantly from the rates of interest right here.

FICO Score New Car Pre-owned Car
Excellent 3.2% 3.6%
Good 4.4% 5.3%
Average 6.2% 7.8%
Subprime 9.6% 10.0%
Bad 14.3% 15.5%
Very Bad 15.5% 17.9%

Used Car Auto Loans in Eugene

It is a little more expensive to finance a used car or truck, at least when it comes to rate of interest. Steeper rates for used vehicles, however, are countered by smaller down payments, monthly payments, and premiums. Have a look at the comparison below.

Age Price Rate Months Payment Interest Total Cost
New $29,750 6.00% 60 $575.15 $4,759 $34,509
1 Year $23,800 7.50% 60 $476.90 $4,814 $28,614
2 Years $20,230 7.50% 60 $405.37 $4,092 $24,322
3 Years $17,196 7.50% 60 $344.56 $3,478 $20,674

Most cars lose roughly 15% of their value per year, so a new car you buy for $29,750 will be worth $23,800 after just one year of ownership. Most lenders will help you finance a pre-owned vehicle up to eight years old, and some cap the miles at 100K miles.

Poor Credit Car Loans in Eugene

Most of the time, deals like no money down are unattainable if your credit score isn’t in the mid to high 700s. Simply put, loan providers use your credit score as a measure of whether you’re likely to pay off your loan as scheduled. Although less-than-perfect credit always results in a more expensive rate of interest, you can now request quotes from a variety of loan companies online.

Buy here pay here financing is another option. The rates are very expensive, and the cars and trucks are always preowned. In most cases, it’s much easier to deal with a regional bank or lender. The down payments are cheaper, as are the rates, and the service is much superior.

Contact an auto finance professional in your area today.

Zero Down Cars in Eugene

Usually, you still need some real cash to get behind the wheel, as a down payment of 10-20% is normally a requirement. Zero down auto loans, like 0% financing deals, are mostly limited to consumers who have terrific credit. Lack of a down payment elevates the risk of the loan, increasing your rate of interest. If you’ve got exceptional credit, this isn’t so much an issue, as your rate will be low no matter what. If you’ve got a bad credit score, on the other hand, your rate could increase a whole lot. You are better off saving up for a down payment, or exchanging your old vehicle for equity.

Eugene Resources

Credit Unions

Credit UnionStreet addressZip CodeTelephone
Bi-MartPO BOX 276497402(541) 341-4674
Bi-Mart645 Seneca Rd97402(541) 341-4674
Eweb EmployeesPO Box 1200097440(541) 484-5304
Eweb Employees500 E 4th Ave97401(541) 484-5304
First Technology3011 N Delta Hwy97408(503) 644-4034
First Technology4400 W 11th Ave97402(503) 644-4034
Food IndustriesPO Box 724597401(541) 741-2605
LanecoP O Box 86697440(541) 683-5665
Laneco Federal Credit Union74 Centennial Loop97401(541) 683-5665
Northwest CommunityPO Box 7022597401(541) 747-4231
Northwest Community3701 W 11th Ave97402(541) 686-2934
O.U.R.PO box 1192297440(541) 485-1188
O.U.R.325 Blair Blvd97402(541) 485-1188
Oregon CommunityPO Box 7700297401(541) 687-2347
Oregon Community3065 W 11th Ave97402(541) 687-2347
Oregon Community45 Division Ave97404(541) 687-2347
Oregon Community895 E 13th Ave97401(541) 687-2347
Oregon Community2525 Coburg Rd97408(541) 687-2347
Oregon Community488 E 11th Ave97401(541) 687-2347
Oregon Community2890 Willamette St97405(541) 687-2347
Oregon Community4239 Barger Dr97402(541) 687-2347
Oregonians360 E 8th Ave97401(503) 239-5336
Pacific Cascade1075 Oak St97401(541) 343-6238
Pacific Cascade95 Division Ave97404(541) 743-4301
Pacific Cascade1155 Chambers St97402(541) 484-4358
Pentagon400 Country Club Rd97401(541) 345-6311
Selco CommunityP.O. Box 748797401(800) 686-8000
Selco Community299 E 11th Ave97401(541) 338-3877
Selco Community221 Division Ave97404(541) 684-6202
Selco Community3169 W 11th Ave97402(541) 684-6204
Selco Community Credit Union - Administration Office1050 High St97401(541) 686-8000