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Car loans give you the ability to acquire a new vehicle, even when you don’t have the required money. Whether you’re financed depends on a number of factors, which include:

  • How high your credit score is.
  • What your income is.
  • Where you reside.

To accelerate approval, you can apply on the web for financing. There are professionals waiting to help you finance the car you want with a rate you can afford.

Auto Loan Rates in Nashville

Keep in mind, these rates should not be seen as advertisements, but estimates at the time of publication. Precise interest rates differ.

FICO Score New Car Pre-owned Car
Excellent 3.2% 3.5%
Good 4.4% 4.9%
Average 6.1% 7.4%
Subprime 8.5% 10.0%
Bad 13.3% 16.9%
Very Bad 15.1% 19.2%

Used Car Financing in Nashville

You’ll see that the interest rates for a used car are higher than the rates for a new one. Clever consumers, however, always purchase used cars. You can finance a solid used car or truck for so much less than what it costs to finance a new one.

Years Old Price Rate Months Payment Interest Total
New $27,000 6.00% 60 $521.99 $4,319 $31,319
1 Year $21,600 7.50% 60 $432.82 $4,369 $25,969
2 Years $18,360 7.50% 60 $367.90 $3,714 $22,074
3 Years $15,606 7.50% 60 $312.71 $3,157 $18,763

It’s possible to get a very good car for the money if you don’t mind buying it used. Finance companies charge higher rates of interest for pre-owned vehicles, but in most situations, you only need 10% down, and the insurance costs are cheaper.

Bad Credit Car Loans in Nashville

Has your credit been hurt by bankruptcy, foreclosure, or other such issues? The better your credit score, the greater number of options you will have. Before the web, you might be declined at a few banks or dealers before obtaining a loan.

On the spot financing is a further option, offered by Nashville’s buy here pay here (BHPH) car dealerships. Clearly, your credit isn’t going to be an obstacle, but you will find yourself coughing up a ton in interest for a high mileage car or truck. Whenever you can, you want to obtain your finance package through one of the below loan companies:

  • Regional or local bank.
  • Credit union for which you’re eligible.
  • Automobile loan company.

A dealership or finance professional will help you obtain financing from one of these loan providers. A regular lender will report to the credit reporting agencies, meaning your credit score will improve if you keep making your payments on schedule.

Go here to apply online.

Nashville Credit Restoration

Are you stressing that your annual percentage rate will be too expensive? A large proportion of individuals have errors on their credit histories. These types of discrepancies could be negatively affecting your FICO score without you realizing it. You can pull your credit report for free at www.annualcreditreport.com, a service offered by the three major credit bureaus.

You can dispute any discrepancies on your own, or get a company to write the dispute letters for you. Often, including a cosigner with your loan could also lessen your interest rate.

Can a Car Loan Improve Your Credit?

If you need to boost your credit score, financing a car could actually help–so long as you pay it off as scheduled. If you do business with a BHPH dealership, you will not have this chance. Most lenders offer automated payment options, which are key to making your payments by the due date every month.

Nashville Resources

Credit Unions

Credit UnionStreet addressZip CodeTelephone
Ascend2600 Elm Hill Pike37214(800) 342-3086
Cornerstone FinancialP.O. BOX 12072937212(615) 385-1616
Cornerstone Financial1701 21st Ave S37212(615) 385-1616
Dixie Line567 Veritas St37211(615) 331-5121
Electric ServicePO BOX 2411737202(615) 687-4801
Electric Service3139 Lebanon Pike37214(615) 687-4801
Electric Service1214 Church St #10037246(615) 687-4801
Electric Service Credit Union1214 Church St37246(615) 747-3801
Employees Credit Union1415 Murfreesboro Pike #14837217(615) 367-7283
Employees Credit Union1415 Murfreesboro Pike37217(615) 367-7283
Employment Security220 French Landing Dr37228(615) 741-2142
First Eagle160 American General Way37027(615) 749-2087
Life2010 Church St #20437203(615) 284-5356
Lifeway1 Lifeway Plaza37203(615) 251-2089
Lifeway127 9th Ave N37203(615) 251-2089
M Pd Credit Union2231 26th Ave N37208(615) 254-7060
M Pd Credit Union5101 Harding Pl37211(615) 333-7633
M Pd Credit Union - Main Office306 Gay St37201(615) 242-5461
M.P.D. Community2711 Old Lebanon Rd37214(615) 782-7220
M.P.D. Community200 James Robertson Pkwy37201(615) 782-7210
Metropolitan Teachers1605 Jefferson St37208(615) 321-4622
N M H Credit Union3443 Dickerson Pike37207(615) 345-3471
N.G.H.1818 Albion St37208(615) 341-4455
N.G.H.1414 County Hospital Rd37218(615) 862-7026
Nashville Firemens908 Woodland St37206(615) 226-3473
Nashville Post OfficePO BOX 29123337229(615) 871-4221
Nashville Post Office10 Rachel Dr37214(615) 871-4221
Newspaper And Printers1100 Broadway37203(615) 259-8310
Old Hickory4123 Clarksville Pk37218(615) 847-4043
Old Hickory1732 Lebanon Pike Cir37210(615) 847-4043
P.I.A.S.305 Plus Park Blvd37217(615) 360-9951
Parthenon201 8th Ave S37203(615) 749-6461
Purity Dairies EmployeesP.O. BOX 10095737224(615) 760-2264
Purity Dairies Employees360 Murfreesboro Pike37210(615) 760-2264
Southeast Financial444 James Robertson Pkwy37201(615) 743-3700
Southeast Financial1314 Vultee Blvd37217(615) 361-6565
Southeast Financial Federal Credit Union333 Commerce St37201(615) 743-3700
St. Thomas Hospital Employees99 White Bridge Rd #20137205(615) 292-7828
St. Thomas Hospital Employees99 White Bridge Rd37205(615) 292-7828
St. Thomas Hospital Employees4202 Harding Rd37205(615) 292-7828
Tenessee Credit Union100 2nd Ave N37201(615) 242-6232
Tennessee Credit Union107 White Bridge Pike37205(615) 352-1544
Tennessee Credit Union Cool Springs1809 Mallory St37201(615) 780-7620
Tennessee Department Of Safety1150 Foster Ave37210(615) 251-5145
Tennessee EmployeesP.O. BOX 19861737219(615) 313-5585
Tennessee Employees44 Vantage Way37228(615) 313-5585
Tennessee Employees400 Deaderick St37219(615) 313-5585
The Tennessee Credit Union1400 8th Ave S37203(615) 244-1910
The Tennessee Credit Union107 White Bridge Rd37205(615) 352-1544
Tsu3500 John A Merritt Blvd37209(615) 963-5941
U. S. T. C. Employees800 Harrison St37203(615) 880-4799
Us CommunityPO BOX 2504737202(615) 256-8712
Us Community89 Hermitage Ave37210(615) 256-8712
Us Community125 8th Ave S37203(615) 256-8712
Vanderbilt University EmployeesP. O. BOX 12842637212(615) 936-0300
Vanderbilt University Employees1313 21st Ave S37232(615) 936-0300
Volunteer Corporate Credit Union2460 Atrium Way37214(615) 232-7900
Willis Credit Union26 Century Blvd #337214(615) 872-6380
Willis Credit Union26 Century Blvd37214(615) 872-6380
Wiltruco Employees FCU572 Donelson Pike37214(615) 883-4019