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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

Credit UnionStreet addressZipTelephone
Carolina Foothills1609 E North St29607(864) 282-1984
Carolinas Telco505 N Main St29601(704) 391-5600
Community 1280 Commonwealth Dr29615(864) 281-7640
Cpm6709 White Horse Rd29611(864) 246-5850
Cpm1270 E Butler Rd29607(864) 458-7626
Cpm Federal Credit Union1167 E Butler Rd29607(864) 458-7626
Credit Central700 E North St #1529601(864) 235-2845
G.H.S.211 Patewood Dr29615(864) 288-8046
G.H.S.701 Grove Rd # 129605(864) 455-7112
Greenville1501 Wade Hampton Blvd29609(864) 235-6309
Greenville3375 Pelham Rd29615(864) 371-6060
Greenville142 Tanner Rd29607(864) 676-9066
Greenville Gas Turbine Employees300 Garlington Rd29615(864) 254-2883
Greenville HeritageP.O Box 256429602(864) 467-4160
Greenville Heritage240 Terminal Rd29605(864) 299-7997
Greenville Heritage301 University Ridge29601(864) 467-7163
Greenville Heritage75 Reedy View Dr29601(864) 467-4160
Houston100 Fluor Daniel Drive C102U29607(864) 676-7300
Market Usa201 Bi Lo Blvd29607(864) 234-4676
MtcPO Box 194429602(864) 908-3448
Mtc517 Michelin Rd29605(864) 458-1909
Mtc1 Parkway E29650(864) 458-5657
Mtc124 Verdae Blvd29607(864) 908-3448
Mtc Federal Credit UnionMichelin Rd29605(864) 458-1505
N-P Employees Credit Union31 Cleveland St29601(864) 232-4003
S C Telco Federal Credit Union101 Verdae Blvd29607(864) 297-8984
S C Telco Federal Credit Union10 Toy St #20029601(864) 232-5588
S. C. State1435 Cleveland St29607(864) 235-0363
S. C. TelcoP O BOx 1070829603(864) 232-5553
S. C. Telco10 Toy St29601(864) 232-5553
S. C. Telco101 Verdae Blvd #130029607(864) 297-8984
Sharonview712 S Main St29601(864) 241-9791
St Francis121 Sumner St29601(864) 255-1660
Truliant925 Old Airport Rd29607(800) 822-0382