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Many of us buy our cars using a loan, as few of us have the capital available for an outright purchase. Unfortunately, the process of getting approved for such a loan can be a real inconvenience, particularly when you’ve got a low credit score. Instead of going from lender to lender, applying for a loan, you can submit one single application through our site.

Finance companies and dealerships will compete for your business in real time, putting you in charge of the finance process.

Auto Loan Rates in Lancaster

Want to know what interest rate you’ll be asked to pay? The reality is, your annual percentage rate can vary greatly based on your credit score, among a number of other factors. The rates displayed below are only for informational purposes. They aren’t advertisements, and your precise rate could deviate greatly from what you see below.

Credit Rating New Car Used Car
Excellent 3.2% 3.6%
Good 4.4% 4.8%
Average 6.3% 6.8%
Subprime 8.6% 9.9%
Bad 12.0% 13.8%
Very Bad 13.2% 15.1%

Used Car Financing in Lancaster

The rates of interest are more expensive when financing used cars and trucks, because they introduce a somewhat greater risk of maintenance troubles. Higher rates for pre-owned cars, however, are compensated by lower down payments, monthly payments, and insurance premiums. Check out the comparison below, displaying the costs associated with car loans for brand new versus used cars and trucks.

Years Old Price APR Months Payment Interest Total Cost
New $21,000 6.00% 60 $405.99 $3,359 $24,359
1 Year $16,800 7.50% 60 $336.64 $3,398 $20,198
2 Years $14,280 7.50% 60 $286.14 $2,889 $17,169
3 Years $12,138 7.50% 60 $243.22 $2,455 $14,593

You can buy a very good car for the money if you don’t mind a second hand car. Most finance companies allow you to finance a pre-owned vehicle up to ten years old, sometimes a little less, and some cap the miles at 100K miles.

Poor Credit Auto Loans in Lancaster

Your FICO score is extremely important when financing a car. To help determine your interest rates, finance companies look at your history of payments on previous car loans and leases. Before the net, you pretty much forced to settle for whatever rate of interest and provisions they offered you. Today, there are better ways to get financed.

If your credit is in pretty bad form, you may want to stop by a dealership that advertises buy here pay here loans. There’s a price for that lack of credit check: ridiculous rates, inflexible terms and conditions, and high-priced, well-used vehicles. You will be better off getting a loan from a bank or credit union. The down payments are cheaper, the same as the loan rates, and the service is far better.

Best of all, you can submit your application online.

No Down Payment Financing in Lancaster

Saving enough cash required to buy a new car can be difficult, even if you only need enough for a down payment. No money down auto loans, like 0% financing packages, are typically offered only to consumers who have superior credit. By completing an application online, it’s possible to boost your odds of locking down this kind of a package, as car dealers can view what you want your down payment to be in advance. Simply put a zero where it asks down payment, and the financing consultant will get it.

Lancaster Resources

Credit Unions

Credit UnionAddressZipPhone
Belco Community Credit Union452 S Duke St17602(717) 232-3526
Belco Community Credit Union354 N Prince St17603(717) 232-3526
Belco Community Credit Union201 Good Dr17603(717) 232-3526
Belco Community Credit Union1758 Oregon Pike17601(717) 232-3526
Citadel20 W Orange St17603(610) 380-6000
Everence2160 Lincoln Hwy E #2017602(800) 451-5719
Everence1532 Lititz Pike17601(717) 291-1364
Lancaster Pa Firemen843 Fremont St17603(717) 392-6374
Lancaster Postal EmployeesPO Box 400217604(717) 393-8038
Lancaster Postal Employees1400 Harrisburg Pike17604(717) 393-5211
Lancaster Postal Employees Credit Union1366 Harrisburg Pike17604(717) 299-7103
Lancaster Red Rose1010 New Holland Ave17601(717) 295-6685
Lancaster Red Rose150 N Queen St17603(717) 824-8551
Lanco349 W Roseville Rd17601(717) 569-7180
Our FamilyPO Box 404417604(717) 560-7576
Our Family Federal Credit Union1589 Commerce Dr17601(717) 560-7576
Penlanco651 Delp Rd17601(717) 569-9621
Teamsters Local 7711025 N Duke St17602(717) 898-8024
United Peoples2137 Embassy Dr #10117603(717) 299-6696
United Peoples2137 Embassy Dr17603(717) 299-6696
Victim-Witness Services50 N Duke St17602(717) 299-8048
Wheatland611 Centerville Rd17601(717) 898-7673
Wheatland555 Greenfield Rd #11117601(717) 898-7673