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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


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[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Street address,Zip Code,Telephone” data=”Bi-Mart,PO BOX 2764,97402,(541) 341-4674,Bi-Mart,645 Seneca Rd,97402,(541) 341-4674,Eweb Employees,PO Box 12000,97440,(541) 484-5304,Eweb Employees,500 E 4th Ave,97401,(541) 484-5304,First Technology,3011 N Delta Hwy,97408,(503) 644-4034,First Technology,4400 W 11th Ave,97402,(503) 644-4034,Food Industries,PO Box 7245,97401,(541) 741-2605,Laneco,P O Box 866,97440,(541) 683-5665,Laneco Federal Credit Union,74 Centennial Loop,97401,(541) 683-5665,Northwest Community,PO Box 70225,97401,(541) 747-4231,Northwest Community,3701 W 11th Ave,97402,(541) 686-2934,O.U.R.,PO box 11922,97440,(541) 485-1188,O.U.R.,325 Blair Blvd,97402,(541) 485-1188,Oregon Community,PO Box 77002,97401,(541) 687-2347,Oregon Community,3065 W 11th Ave,97402,(541) 687-2347,Oregon Community,45 Division Ave,97404,(541) 687-2347,Oregon Community,895 E 13th Ave,97401,(541) 687-2347,Oregon Community,2525 Coburg Rd,97408,(541) 687-2347,Oregon Community,488 E 11th Ave,97401,(541) 687-2347,Oregon Community,2890 Willamette St,97405,(541) 687-2347,Oregon Community,4239 Barger Dr,97402,(541) 687-2347,Oregonians,360 E 8th Ave,97401,(503) 239-5336,Pacific Cascade,1075 Oak St,97401,(541) 343-6238,Pacific Cascade,95 Division Ave,97404,(541) 743-4301,Pacific Cascade,1155 Chambers St,97402,(541) 484-4358,Pentagon,400 Country Club Rd,97401,(541) 345-6311,Selco Community,P.O. Box 7487,97401,(800) 686-8000,Selco Community,299 E 11th Ave,97401,(541) 338-3877,Selco Community,221 Division Ave,97404,(541) 684-6202,Selco Community,3169 W 11th Ave,97402,(541) 684-6204,Selco Community Credit Union – Administration Office,1050 High St,97401,(541) 686-8000″][/tboot_table]