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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

Credit UnionLocationZipPhone
A R C House800 E Ohio St15212(412) 231-5082
A T & T Employees Pittsburgh635 Grant St15219(412) 227-7210
Acba Fed Credit Union (3226)400 Stanwix St #106515222(412) 391-7242
Alcoa PittsburghABSC Building Suite 100 30 Isabel15212(412) 553-3100
Alcose1732 Brownsville Rd15210(412) 881-8871
Allegent Community1001 Liberty Ave #10015222(412) 642-2875
Allegent Community1001 Liberty Ave15222(412) 642-2875
Allegheny County - Credit Union200 Ross St # 32015219(412) 350-5957
Allegheny Health Services Employees320 E North Ave15212(412) 359-3141
Allegheny Valley250 William Pitt Way15238(412) 826-5248
B I5124 Dolores Dr15227(412) 882-9306
Bayer Heritage100 Bayer Rd15205(412) 777-2887
Beaver Avenue2515 Preble Ave15233(412) 393-8882
Carnegie Mellon University5032 Forbes Ave15213(412) 268-2905
Ccac800 Allegheny Ave15233(412) 237-3197
Central Baptist Church Federal Credit Union2200 Wylie Ave15219(412) 456-7827
Century Heritage700 Regis Ave15236(412) 650-2600
Citizens East Community Dev FCU7249 Frankstown Ave15208(412) 247-5600
City Co220 Grant St15219(412) 350-5957
Clearview1920 Park Manor Blvd15205(412) 787-0498
Duke Federal Credit Union2800 Sarah St15203(412) 431-6843
East End Food Cooperative7516 Meade St15208(412) 243-7574
Eastern Pittsburgh Bell539 Rodi Rd15235(412) 241-1500
Equitable Resources Employees200 Allegheny Center Mall15212(412) 395-3636
Equitable Resources Employees225 N Shore Dr15212(412) 395-3636
Fisher Scientific Employees300 Industry St15210(724) 517-2331
Greater Pittsburgh4415 Fifth Ave15213(412) 621-6800
Greater Pittsburgh4414 Penn Ave15224(412) 688-0442
Greater Pittsburgh9104 Babcock Blvd15237(412) 367-6338
Greater Pittsburgh200 Lothrop St15213(412) 647-6337
Greater Pittsburgh1400 Locust St15219(412) 232-7717
Greater Pittsburgh Police1338 Chartiers Ave15220(412) 922-4800
Hacp/Ura601 Pressley St15212(412) 321-7400
Heinz - Del MontePO Box 5715230(412) 322-7091
Heinz - Del Monte885 Progress St15212(412) 322-7091
Heinz - Del Monte357 6th Ave15222(412) 237-5766
Hill District2021 Centre Ave15219(412) 281-0822
I B M PittsburghP.O. Box 1551915244(412) 747-9004
I.B.E.W. - Local No. 55 Hot Metal St #20115203(412) 432-1152
I.B.E.W. - Local No. 55 Hot Metal St15203(412) 432-1152
Iron Workers2201 Liberty Ave #20115222(412) 471-1133
Iron Workers2201 Liberty Ave15222(412) 471-1133
Little Giant Federal Credit Union600 Chartiers Ave15205(412) 771-6400
Little Giant Federal Credit Union711 Forbes Ave15219(412) 391-1340
MemP.O. Box 1826915236(412) 386-6631
Mem626 Cochrans Mill Rd15236(412) 386-6631
Mercer William M & Associates1006 Perry Hwy15237(412) 369-3900
New Horizons401 Wood St15222(412) 281-6608
Omega206 Siebert Rd15237(412) 369-3800
Omega4800 Friendship Ave15224(412) 578-4102
Omega188 43rd St15201(412) 687-9500
Omega Federal Credit Union429 Forbes Ave #90315219(412) 392-4567
P A T A207 Sigma Dr15238(412) 963-8081
Paac Transit Division219 Fort Pitt Blvd15222(412) 255-1363
Penn Hills Municipal12245 Frankstown Rd15235(412) 798-2115
Peoples Natural G Gen Ofs Emp375 N Shore Dr #60015212(412) 208-6830
Peoples Natural G Gen Ofs Emp375 N Shore Dr15212(412) 208-6830
Pittco (Of Pittsburgh)1 Ppg Pl15222(412) 434-2020
Pittsburgh317 Brownsville Rd15210(412) 381-6363
Pittsburgh Central801 Vinial St15212(412) 322-4009
Pittsburgh City Hall Employees414 Grant St #91115219(412) 255-2609
Pittsburgh Coke & Chemical Employees FCUNeville St15213(412) 777-6675
Pittsburgh FirefightersP.O. Box 857715220(412) 928-8500
Pittsburgh Firefighters500 S Main St15220(412) 928-8500
Pittsburgh Pepsi Cola105 Eileen Dr15214(412) 931-0404
Post Gazette34 Boulevard of the Allies15222(412) 263-1450
Post Office Employees Credit Union Of Pgh1001 California Ave15290(412) 231-5800
Ppg & AssociatesGeneral Delivery15238(412) 826-4932
Riverset Credit Union1700 Jane St15203(412) 488-2525
Riverset Credit Union53 S 10th St15203(412) 488-2525
Riverset Credit Union532 S Aiken Ave15232(412) 111-1111
S C M H Employees1000 Bower Hill Rd15243(412) 942-1264
Saint Norberts2559 Kingwood St15234(412) 881-4323
Shacog794 Washington Rd15228(412) 341-3740
Smmh815 Freeport Rd15215(412) 784-4746
Swindell-Dressler555 Grant St15219(412) 281-6303
Tri-Point11 Stanwix St #101815222(412) 995-4962
Tri-Point11 Stanwix St15222(412) 995-4962
Tri-Valley Service1920 Cochran Rd15220(412) 344-3406
Tri-Valley Service Federal Credit Union3045 Chartiers Ave15204(412) 771-9944
Ues Community Federal Credit Union152 Noble Ave15205(412) 921-5370
Ukrainian Selfreliance Of West. Pa.95 S 7th St15203(412) 481-1865
University Drive Vahp.o.box 1205315240(412) 360-3797
University Drive Vahuniversity drive c rm ae 14315240(412) 360-3797
Usx600 Grant St15219(888) 219-3159
Va Pittsburgh Employees7180 Highland Dr15206(412) 954-4615
Va Pittsburgh Employees1010 Delafield Rd15215(412) 822-3185