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The majority of us purchase our cars with the help of a lender, as few of us have the money available for an outright purchase. It would be ideal if this was a hassle-free process, but it usually isn’t. Creditors ask plenty of questions before deciding to fund your auto loan. We can help you secure a car loan a lot sooner, at an affordable rate, even when your credit isn’t amazing.

This is particularly helpful for individuals with a low credit score, as a range of dealerships will consider your credit, many of which specialize in credit problems.

Auto Finance Rates in Pittsburgh

These interest rates are only for informational purposes. They aren’t advertisements. Your actual interest rate will depend on quite a number of variables, including loan company, down payment, monthly income, loan-to-value ratio, etc.

FICO Rating New Car Pre-owned 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%

Don’t know your FICO score? You need to. You should check your score here online.

Used Auto Loans in Pittsburgh

As you might have noticed, companies charge slightly higher rates for second hand vehicles. However, pre-owned cars and trucks are more economical over the long haul, and they depreciate less. Consider the chart below.

Age Price Rate Months Payment Interest Total
New $31,200 6.00% 60 $603.18 $4,991 $36,191
1 Year $24,960 7.50% 60 $500.15 $5,049 $30,009
2 Years $21,216 7.50% 60 $425.13 $4,292 $25,508
3 Years $18,034 7.50% 60 $361.36 $3,648 $21,681

It’s possible to buy a great car for the money if you don’t mind a used car. Generally, you can get a car loan for a vehicle that’s up to 10 years old. Mileage limitations often apply.

Bad Credit Car Loans in Pittsburgh

Credit rating plays a big part in loan approval and annual percentage rate. Improved FICO ratings typically lead to decreased rates, but there is a lot more to the equation. In the old days, loan providers were few who would fund auto loans for those with subprime credit. Now many loan companies, not to mention some banks and credit unions, have special finance units.

For people with recent bankruptcy or foreclosures, a buy here pay here car dealership is sometimes the only solution. Of course, your credit will not be a concern, but you will end up shelling out a ton in interest for an older vehicle. It is best to stay away from these car lots if possible, securing a car loan via the web. This is the way the majority of people these days get financed, and it’s a lot more affordable in the end.

Best of all, you can submit your application online.

Decreasing Your Interest Rates

There are quite a few methods to lower your interest rate. A lot of potential buyers have errors on their credit reports. These discrepancies could be hurting your credit score without you knowing it. Fortunately, it’s free to check your credit report once a year at annualcreditreport.com. Pittsburgh has a number of credit improvement agencies to help you correct these types of inaccuracies, or you can file the dispute yourself. Additionally, down payments, cosigners, and shorter repayment terms all bring about more affordable rates.

Can a Car Loan Improve Your Credit?

Your payment history plays a pivotal role in establishing your credit score. Paying off a financed vehicle builds out that payment history, increasing your credit score in the process. Buy here pay here car dealers rarely report back to the credit bureaus, which means that your credit score isn’t likely to get better. Although the actual boost in your credit score is challenging to determine, the increase is substantial.

Pittsburgh Resources

Credit Unions

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[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Location,Zip,Phone” data=”A R C House,800 E Ohio St,15212,(412) 231-5082,A T & T Employees Pittsburgh,635 Grant St,15219,(412) 227-7210,Acba Fed Credit Union (3226),400 Stanwix St #1065,15222,(412) 391-7242,Alcoa Pittsburgh,ABSC Building Suite 100 30 Isabel,15212,(412) 553-3100,Alcose,1732 Brownsville Rd,15210,(412) 881-8871,Allegent Community,1001 Liberty Ave #100,15222,(412) 642-2875,Allegent Community,1001 Liberty Ave,15222,(412) 642-2875,Allegheny County – Credit Union,200 Ross St # 320,15219,(412) 350-5957,Allegheny Health Services Employees,320 E North Ave,15212,(412) 359-3141,Allegheny Valley,250 William Pitt Way,15238,(412) 826-5248,B I,5124 Dolores Dr,15227,(412) 882-9306,Bayer Heritage,100 Bayer Rd,15205,(412) 777-2887,Beaver Avenue,2515 Preble Ave,15233,(412) 393-8882,Carnegie Mellon University,5032 Forbes Ave,15213,(412) 268-2905,Ccac,800 Allegheny Ave,15233,(412) 237-3197,Central Baptist Church Federal Credit Union,2200 Wylie Ave,15219,(412) 456-7827,Century Heritage,700 Regis Ave,15236,(412) 650-2600,Citizens East Community Dev FCU,7249 Frankstown Ave,15208,(412) 247-5600,City Co,220 Grant St,15219,(412) 350-5957,Clearview,1920 Park Manor Blvd,15205,(412) 787-0498,Duke Federal Credit Union,2800 Sarah St,15203,(412) 431-6843,East End Food Cooperative,7516 Meade St,15208,(412) 243-7574,Eastern Pittsburgh Bell,539 Rodi Rd,15235,(412) 241-1500,Equitable Resources Employees,200 Allegheny Center Mall,15212,(412) 395-3636,Equitable Resources Employees,225 N Shore Dr,15212,(412) 395-3636,Fisher Scientific Employees,300 Industry St,15210,(724) 517-2331,Greater Pittsburgh,4415 Fifth Ave,15213,(412) 621-6800,Greater Pittsburgh,4414 Penn Ave,15224,(412) 688-0442,Greater Pittsburgh,9104 Babcock Blvd,15237,(412) 367-6338,Greater Pittsburgh,200 Lothrop St,15213,(412) 647-6337,Greater Pittsburgh,1400 Locust St,15219,(412) 232-7717,Greater Pittsburgh Police,1338 Chartiers Ave,15220,(412) 922-4800,Hacp/Ura,601 Pressley St,15212,(412) 321-7400,Heinz – Del Monte,PO Box 57,15230,(412) 322-7091,Heinz – Del Monte,885 Progress St,15212,(412) 322-7091,Heinz – Del Monte,357 6th Ave,15222,(412) 237-5766,Hill District,2021 Centre Ave,15219,(412) 281-0822,I B M Pittsburgh,P.O. Box 15519,15244,(412) 747-9004,I.B.E.W. – Local No. 5,5 Hot Metal St #201,15203,(412) 432-1152,I.B.E.W. – Local No. 5,5 Hot Metal St,15203,(412) 432-1152,Iron Workers,2201 Liberty Ave #201,15222,(412) 471-1133,Iron Workers,2201 Liberty Ave,15222,(412) 471-1133,Little Giant Federal Credit Union,600 Chartiers Ave,15205,(412) 771-6400,Little Giant Federal Credit Union,711 Forbes Ave,15219,(412) 391-1340,Mem,P.O. Box 18269,15236,(412) 386-6631,Mem,626 Cochrans Mill Rd,15236,(412) 386-6631,Mercer William M & Associates,1006 Perry Hwy,15237,(412) 369-3900,New Horizons,401 Wood St,15222,(412) 281-6608,Omega,206 Siebert Rd,15237,(412) 369-3800,Omega,4800 Friendship Ave,15224,(412) 578-4102,Omega,188 43rd St,15201,(412) 687-9500,Omega Federal Credit Union,429 Forbes Ave #903,15219,(412) 392-4567,P A T A,207 Sigma Dr,15238,(412) 963-8081,Paac Transit Division,219 Fort Pitt Blvd,15222,(412) 255-1363,Penn Hills Municipal,12245 Frankstown Rd,15235,(412) 798-2115,Peoples Natural G Gen Ofs Emp,375 N Shore Dr #600,15212,(412) 208-6830,Peoples Natural G Gen Ofs Emp,375 N Shore Dr,15212,(412) 208-6830,Pittco (Of Pittsburgh),1 Ppg Pl,15222,(412) 434-2020,Pittsburgh,317 Brownsville Rd,15210,(412) 381-6363,Pittsburgh Central,801 Vinial St,15212,(412) 322-4009,Pittsburgh City Hall Employees,414 Grant St #911,15219,(412) 255-2609,Pittsburgh Coke & Chemical Employees FCU,Neville St,15213,(412) 777-6675,Pittsburgh Firefighters,P.O. Box 8577,15220,(412) 928-8500,Pittsburgh Firefighters,500 S Main St,15220,(412) 928-8500,Pittsburgh Pepsi Cola,105 Eileen Dr,15214,(412) 931-0404,Post Gazette,34 Boulevard of the Allies,15222,(412) 263-1450,Post Office Employees Credit Union Of Pgh,1001 California Ave,15290,(412) 231-5800,Ppg & Associates,General Delivery,15238,(412) 826-4932,Riverset Credit Union,1700 Jane St,15203,(412) 488-2525,Riverset Credit Union,53 S 10th St,15203,(412) 488-2525,Riverset Credit Union,532 S Aiken Ave,15232,(412) 111-1111,S C M H Employees,1000 Bower Hill Rd,15243,(412) 942-1264,Saint Norberts,2559 Kingwood St,15234,(412) 881-4323,Shacog,794 Washington Rd,15228,(412) 341-3740,Smmh,815 Freeport Rd,15215,(412) 784-4746,Swindell-Dressler,555 Grant St,15219,(412) 281-6303,Tri-Point,11 Stanwix St #1018,15222,(412) 995-4962,Tri-Point,11 Stanwix St,15222,(412) 995-4962,Tri-Valley Service,1920 Cochran Rd,15220,(412) 344-3406,Tri-Valley Service Federal Credit Union,3045 Chartiers Ave,15204,(412) 771-9944,Ues Community Federal Credit Union,152 Noble Ave,15205,(412) 921-5370,Ukrainian Selfreliance Of West. Pa.,95 S 7th St,15203,(412) 481-1865,University Drive Vah,p.o.box 12053,15240,(412) 360-3797,University Drive Vah,university drive c rm ae 143,15240,(412) 360-3797,Usx,600 Grant St,15219,(888) 219-3159,Va Pittsburgh Employees,7180 Highland Dr,15206,(412) 954-4615,Va Pittsburgh Employees,1010 Delafield Rd,15215,(412) 822-3185″][/tboot_table]

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