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Given the steep price of the average new car, it is very tough to obtain a car or truck without a loan. It would be ideal if this was a hassle-free process, but it’s really not. Banking institutions ask quite a few questions before deciding to grant you an auto loan. Rather than sweating it out at the dealer or bank, you can request a car loan online.

You will find experts in your area, ready to help you finance the car you need with a rate that won’t break the bank.

Auto Loan Rates in South Carolina

Many loan companies only advertise the lowest rate available, only available to folks with excellent credit. In point of fact, your annual percentage rate can vary hugely based on your FICO score, plus a variety of other things. The rates displayed below are only for informational purposes. These aren’t advertisements, and your actual rate will vary.

FICO Score New Car Pre-owned Car
Excellent 3.0% 3.3%
Good 4.2% 4.5%
Average 6.3% 7.1%
Subprime 9.4% 10.7%
Bad 14.7% 15.5%
Very Bad 15.8% 16.4%

Used Car Auto Loans in South Carolina

New cars and trucks have the cheapest rates. However, pre-owned cars and trucks are more economical in the end, and they require cheaper down payments. The numbers speak for themselves.

Age Price APR Months Payment Interest Total Cost
New $16,500 6.00% 60 $318.99 $2,639 $19,139
1 Year $13,200 7.50% 60 $264.50 $2,670 $15,870
2 Years $11,220 7.50% 60 $224.83 $2,270 $13,490
3 Years $9,537 7.50% 60 $191.10 $1,929 $11,466

For most individuals, a second hand car is the way to go. Loan providers charge higher interest rates for used cars, but in many cases, you only need 10% down, and the insurance premiums are less expensive.

Poor Credit Car Loans in South Carolina

Has your credit been marred by bankruptcy, repossession, or other similar issues? Better FICO scores often result in decreased rates of interest, but it’s considerably more complex than that. In many cases, it’s best to work with a professional who can lead you through the process.

Countless people with unfavorable credit wind up at one of South Carolina’s buy here pay here dealers. These retailers offer in-house financing, sans credit check. The negatives are significant: outrageous interest rates and various stipulations.

Instead, we recommend that you secure financing on the web. The advantages are many: improved interest rates, considerably better service. Moreover, if you make your payments on time, a better FICO score.

Go here to apply online.

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