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Home / Finance / South Carolina Auto Finance / Greenville (SC) Auto Loans

 

With cars so expensive these days, it is very tough to get a vehicle without using a loan. Whether or not you get approved, and what interest rate you are charged, depends primarily on your credit rating. Additional factors include:

  • Location (Greenville)
  • Debt-to-income ratio
  • Advance payment
  • Occupational history

To streamline approval, you can apply online for a car loan. A car loan expert can walk you through the process, ensuring you obtain financing from a company that won’t charge you a fortune.

Auto Finance Rates in Greenville

Few banks, credit unions, and auto finance sites supply auto finance rates based on FICO score. Instead, they tell you the most affordable rate available. Truth be told, your annual percentage rate varies greatly based on your credit score, among other variables. The rates displayed below are only for informational purposes. They aren’t advertisements, and your actual rate will vary.

Credit Score New Car Used 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 Financing in Greenville

Car makers are really only interested in selling brand new cars and trucks. That said, a used auto loan has loads of benefits, like:

  • Down payment is cheaper.
  • Reduced out the door cost.
  • Lesser risk of negative equity.

You can finance a low-mile used car or truck for a fraction of what it costs to finance a new one.

Age Price APR Months Payment Interest Total Cost
New $15,800 6.00% 60 $305.46 $2,527 $18,327
1 Year $12,640 7.50% 60 $253.28 $2,557 $15,197
2 Years $10,744 7.50% 60 $215.29 $2,173 $12,917
3 Years $9,132 7.50% 60 $182.99 $1,847 $10,980

Most cars lose roughly 15% of their value every year, so a new car you buy for $15,800 will be worth $12,640 after just one year of ownership. Auto loans for used vehicles come with slightly higher rates, but in many instances, you only need 10% down, and the insurance costs are cheaper.

Poor Credit Auto Loans in Greenville

Has your credit been marred by bankruptcy, repossession, or other issues like this? In effect, lenders examine your credit rating in order to determine whether you’ll repay your loan as agreed. Before the internet, you had to accept whatever interest rate and stipulations you were presented. Today, there are better strategies to get approved.

For people who have recent bankruptcy or repossessions, a buy here pay here dealer may well be the only real solution. There’s a price you pay for that lack of credit check: extortionate annual percentage rates, a number of terms and conditions, and high-priced, well-used vehicles. You will be better off getting financed by a traditional bank or loan provider, which you can do through any standard dealership. This is how many individuals get financed, and it’s substantially more economical over the long haul.

Contact an auto finance professional in your area today.

No Money Down Car Loans in Greenville

All too often, people don’t fully grasp that you generally need some cash on hand to finance a car. Typically, a couple of conditions are required for a zero down car loan:

  • The vehicle is brand new.
  • The purchaser has excellent credit.

If you don’t have top notch credit, it is best to start setting aside money for a down payment, or you could find yourself paying an outrageous interest rate. Regardless, when you apply online, there are many brokers and car dealers which do offer no down payment car deals for consumers who don’t have the most ideal credit.

Greenville Resources

Credit Unions

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[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Street address,Zip,Telephone” data=”Carolina Foothills,1609 E North St,29607,(864) 282-1984,Carolinas Telco,505 N Main St,29601,(704) 391-5600,Community 1,280 Commonwealth Dr,29615,(864) 281-7640,Cpm,6709 White Horse Rd,29611,(864) 246-5850,Cpm,1270 E Butler Rd,29607,(864) 458-7626,Cpm Federal Credit Union,1167 E Butler Rd,29607,(864) 458-7626,Credit Central,700 E North St #15,29601,(864) 235-2845,G.H.S.,211 Patewood Dr,29615,(864) 288-8046,G.H.S.,701 Grove Rd # 1,29605,(864) 455-7112,Greenville,1501 Wade Hampton Blvd,29609,(864) 235-6309,Greenville,3375 Pelham Rd,29615,(864) 371-6060,Greenville,142 Tanner Rd,29607,(864) 676-9066,Greenville Gas Turbine Employees,300 Garlington Rd,29615,(864) 254-2883,Greenville Heritage,P.O Box 2564,29602,(864) 467-4160,Greenville Heritage,240 Terminal Rd,29605,(864) 299-7997,Greenville Heritage,301 University Ridge,29601,(864) 467-7163,Greenville Heritage,75 Reedy View Dr,29601,(864) 467-4160,Houston,100 Fluor Daniel Drive C102U,29607,(864) 676-7300,Market Usa,201 Bi Lo Blvd,29607,(864) 234-4676,Mtc,PO Box 1944,29602,(864) 908-3448,Mtc,517 Michelin Rd,29605,(864) 458-1909,Mtc,1 Parkway E,29650,(864) 458-5657,Mtc,124 Verdae Blvd,29607,(864) 908-3448,Mtc Federal Credit Union,Michelin Rd,29605,(864) 458-1505,N-P Employees Credit Union,31 Cleveland St,29601,(864) 232-4003,S C Telco Federal Credit Union,101 Verdae Blvd,29607,(864) 297-8984,S C Telco Federal Credit Union,10 Toy St #200,29601,(864) 232-5588,S. C. State,1435 Cleveland St,29607,(864) 235-0363,S. C. Telco,P O BOx 10708,29603,(864) 232-5553,S. C. Telco,10 Toy St,29601,(864) 232-5553,S. C. Telco,101 Verdae Blvd #1300,29607,(864) 297-8984,Sharonview,712 S Main St,29601,(864) 241-9791,St Francis,121 Sumner St,29601,(864) 255-1660,Truliant,925 Old Airport Rd,29607,(800) 822-0382″][/tboot_table]

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