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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

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[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Street address,Zip Code,Telephone” data=”Ascend,2600 Elm Hill Pike,37214,(800) 342-3086,Cornerstone Financial,P.O. BOX 120729,37212,(615) 385-1616,Cornerstone Financial,1701 21st Ave S,37212,(615) 385-1616,Dixie Line,567 Veritas St,37211,(615) 331-5121,Electric Service,PO BOX 24117,37202,(615) 687-4801,Electric Service,3139 Lebanon Pike,37214,(615) 687-4801,Electric Service,1214 Church St #100,37246,(615) 687-4801,Electric Service Credit Union,1214 Church St,37246,(615) 747-3801,Employees Credit Union,1415 Murfreesboro Pike #148,37217,(615) 367-7283,Employees Credit Union,1415 Murfreesboro Pike,37217,(615) 367-7283,Employment Security,220 French Landing Dr,37228,(615) 741-2142,First Eagle,160 American General Way,37027,(615) 749-2087,Life,2010 Church St #204,37203,(615) 284-5356,Lifeway,1 Lifeway Plaza,37203,(615) 251-2089,Lifeway,127 9th Ave N,37203,(615) 251-2089,M Pd Credit Union,2231 26th Ave N,37208,(615) 254-7060,M Pd Credit Union,5101 Harding Pl,37211,(615) 333-7633,M Pd Credit Union – Main Office,306 Gay St,37201,(615) 242-5461,M.P.D. Community,2711 Old Lebanon Rd,37214,(615) 782-7220,M.P.D. Community,200 James Robertson Pkwy,37201,(615) 782-7210,Metropolitan Teachers,1605 Jefferson St,37208,(615) 321-4622,N M H Credit Union,3443 Dickerson Pike,37207,(615) 345-3471,N.G.H.,1818 Albion St,37208,(615) 341-4455,N.G.H.,1414 County Hospital Rd,37218,(615) 862-7026,Nashville Firemens,908 Woodland St,37206,(615) 226-3473,Nashville Post Office,PO BOX 291233,37229,(615) 871-4221,Nashville Post Office,10 Rachel Dr,37214,(615) 871-4221,Newspaper And Printers,1100 Broadway,37203,(615) 259-8310,Old Hickory,4123 Clarksville Pk,37218,(615) 847-4043,Old Hickory,1732 Lebanon Pike Cir,37210,(615) 847-4043,P.I.A.S.,305 Plus Park Blvd,37217,(615) 360-9951,Parthenon,201 8th Ave S,37203,(615) 749-6461,Purity Dairies Employees,P.O. BOX 100957,37224,(615) 760-2264,Purity Dairies Employees,360 Murfreesboro Pike,37210,(615) 760-2264,Southeast Financial,444 James Robertson Pkwy,37201,(615) 743-3700,Southeast Financial,1314 Vultee Blvd,37217,(615) 361-6565,Southeast Financial Federal Credit Union,333 Commerce St,37201,(615) 743-3700,St. Thomas Hospital Employees,99 White Bridge Rd #201,37205,(615) 292-7828,St. Thomas Hospital Employees,99 White Bridge Rd,37205,(615) 292-7828,St. Thomas Hospital Employees,4202 Harding Rd,37205,(615) 292-7828,Tenessee Credit Union,100 2nd Ave N,37201,(615) 242-6232,Tennessee Credit Union,107 White Bridge Pike,37205,(615) 352-1544,Tennessee Credit Union Cool Springs,1809 Mallory St,37201,(615) 780-7620,Tennessee Department Of Safety,1150 Foster Ave,37210,(615) 251-5145,Tennessee Employees,P.O. BOX 198617,37219,(615) 313-5585,Tennessee Employees,44 Vantage Way,37228,(615) 313-5585,Tennessee Employees,400 Deaderick St,37219,(615) 313-5585,The Tennessee Credit Union,1400 8th Ave S,37203,(615) 244-1910,The Tennessee Credit Union,107 White Bridge Rd,37205,(615) 352-1544,Tsu,3500 John A Merritt Blvd,37209,(615) 963-5941,U. S. T. C. Employees,800 Harrison St,37203,(615) 880-4799,Us Community,PO BOX 25047,37202,(615) 256-8712,Us Community,89 Hermitage Ave,37210,(615) 256-8712,Us Community,125 8th Ave S,37203,(615) 256-8712,Vanderbilt University Employees,P. O. BOX 128426,37212,(615) 936-0300,Vanderbilt University Employees,1313 21st Ave S,37232,(615) 936-0300,Volunteer Corporate Credit Union,2460 Atrium Way,37214,(615) 232-7900,Willis Credit Union,26 Century Blvd #3,37214,(615) 872-6380,Willis Credit Union,26 Century Blvd,37214,(615) 872-6380,Wiltruco Employees FCU,572 Donelson Pike,37214,(615) 883-4019″][/tboot_table]

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