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For anyone who is looking to purchase a new car or truck, it’s likely that you’ll be needing a loan for the required funds. Often, your auto loan will be arranged in the dealer’s office, but this can be a very time-consuming process. For those who want to secure the least expensive interest rate possible, we can help. Loan companies and dealers compete for your business in real time, putting you in charge of the finance process.

Auto Finance Rates in York

Listed below you’ll find rates of interest estimated at various credit tiers. These aren’t to be considered advertisements. Your actual rate will be determined by a number of factors, like loan provider, down payment, debt-to-income ratio, type of vehicle, and more.

Credit Score 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%

Used Car Loans in York

The interest rates are slightly elevated for used cars, because they present a greater risk of maintenance trouble. Regardless, financing a used car is a better value, as the total cost will be considerably less. Below, we examine the cost of a loan for a car that is brand new versus 1-3 old.

Years Old Price Rate Months Payment Interest Total
New $21,100 6.00% 60 $407.92 $3,375 $24,475
1 Year $16,880 7.50% 60 $338.24 $3,414 $20,294
2 Years $14,348 7.50% 60 $287.50 $2,902 $17,250
3 Years $12,196 7.50% 60 $244.38 $2,467 $14,663

A pre-owned vehicle makes a great option, whether you’re getting a loan or paying cash. Here are the typical limits on used car loans:

  • Vehicle no older than 7-10 years.
  • Mileage no greater than 100,000 miles.
  • Purchased from dealer, not private party.

Poor Credit Auto Loans in York

Do you have a FICO rating of less than 620? A lot of folks neglect to check their credit score, because they would prefer not to know. Unfortunately, it really is best to keep an eye on your score. In the past, you might be turned away at a number of lenders or dealerships before being approved for financing.

It may seem that a buy here pay here car dealership is the quickest solution. Most of these dealerships don’t inspect your credit, and they offer affordable, higher-mileage vehicles. Of course, your credit isn’t going to be a problem at this kind of place, but you will find yourself forking over a boatload in interest for an outdated vehicle. Preferably, you want to obtain your loan through one of the below loan companies:

  • National or regional bank.
  • Credit union you can join.
  • Auto loan company.

A dealer or local finance expert will help you secure financing from one of these loan providers. A traditional bank or finance company will report your payments to the credit bureaus, meaning your credit score will increase as long as you keep making your payments on time.

Go here to apply online.

York Credit Score Improvement

If you would like to minimize your rate of interest, you have several options. First, it’s best if you fix any mistakes on your credit report. You can check your credit cost free at www.annualcreditreport.com, a service offered by the three major credit bureaus. Reporting mistakes is relatively easy. You can do it yourself, or solicit one of the credit repair agencies that serves York. Occasionally, including a cosigner with your finance package could also lessen your annual percentage rate.

Can a Car Loan Improve Your Credit?

Over time, the payments made financing a car can improve your credit score . Please keep in mind that this is a step by step process. It’s a good idea to sign up for automatic payments, to ensure you don’t forget any installments.

York Resources

Credit Unions

Credit UnionStreet addressZipTelephone
Americhoice1 Indian Rock Dam Rd17403(717) 741-4808
Central York161 E 9th Ave17404(717) 848-8432
Central York601 Mundis Mill Rd17406(717) 846-6789
First CapitalPO BOX 774617404(717) 767-5551
First Capital2602 Course Rd17402(717) 767-5551
First Capital161 Kent Rd17402(717) 767-5551
First Capital1601 Kenneth Rd17408(717) 767-5551
Hd York3214 E Market St17402(717) 757-7229
Heritage Valley2400 Pleasant Valley Rd17402(717) 840-4981
Heritage Valley777 Kings Mill Rd17403(717) 840-4981
Local 229 Ibew555 Willow Springs Ln17406(717) 854-5254
Lyon Employees2236 Dixie Dr17402(717) 757-1283
Members 1St2145 White St17404(717) 854-1216
Members 1St2420 Mt Rose Ave17402(717) 840-4832
Members 1St2360 Whiteford Rd17402(717) 755-7235
Members 1St2415 E Market St17402(717) 505-1843
New Cumberland200 Memory Ln17402(717) 757-1964
Pace ResourcesP.O. BOX 1504017405(717) 852-1390
Pace Resources445 W Philadelphia St17401(717) 852-1390
West York Area School Dist Em1701 W Market St17404(717) 843-6559
White Rose3494 Industrial Hwy17402(717) 755-9773
White Rose1529 Rodney Rd17408(717) 767-5395
White Rose200 S George St17401(717) 846-1156
Wilmac Employees'PO Box 504717405(717) 854-7857
Wilmac Employees'209 N Beaver St17401(717) 854-7857
York Educational1601 S Queen St17403(717) 843-1153