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In today’s world, you will find it very hard to buy a new car if you don’t qualify for a car loan. Unfortunately, the process of obtaining a car loan can be a serious hassle, especially if you’ve got poor credit. To improve the process, you can apply on the web for your car loan. This is especially helpful for folks who’ve got a low credit score, as a variety of dealers and lending companies will consider your application, a number of of which are experts in special finance scenarios.

Car Loan Rates in Abilene

Please keep in mind that the rates below are not advertisements, but instead estimations at the time of publication. Your exact rate of interest will be determined by a host of factors, which include loan company, down payment, monthly income, type of vehicle, and much more.

FICO Score New Car Pre-owned Car
Excellent 3.3% 3.6%
Good 4.5% 4.7%
Average 6.3% 7.0%
Subprime 9.3% 9.5%
Bad 13.2% 13.7%
Very Bad 14.1% 15.8%

Used Auto Loans in Abilene

The rates are greater when financing pre-owned vehicles, because they introduce a slightly higher risk of maintenance troubles. Still, it’s smart to finance a second hand car, considering that the overall cost will be substantially less. You can finance a low-mileage pre-owned car or truck for half what it costs to finance a brand new one.

Age Price APR Months Payment Interest Total
New $23,750 6.00% 60 $459.15 $3,799 $27,549
1 Year $19,000 7.50% 60 $380.72 $3,843 $22,843
2 Years $16,150 7.50% 60 $323.61 $3,267 $19,417
3 Years $13,728 7.50% 60 $275.07 $2,777 $16,504

A pre-owned car is a great option, regardless of whether you’re financing or paying cash. Let’s consider the common limits on used car loans:

  • Car no older than 7-10 years.
  • Mileage no higher than 100,000 miles.
  • Bought from dealer, not private party.

Bad Credit Car Loans in Abilene

Your credit history is supremely important when financing a car. Essentially, loan providers look at your credit score to determine whether or not you will make your payments on time. Although less-than-perfect credit always leads to an increased rate of interest, you can now request quotes from an assortment of lenders online.

For those with recent bankruptcies or repossessions, a buy here pay here dealership is sometimes the only option. The rates of interest border on extortionate, and the cars and trucks are always second hand.

Instead, our recommendation is that you search for your loan online. The advantages are many: better rates of interest, considerably better service. And, if you make your payments when they’re due, an improvement to your credit score.

Contact an auto finance professional in your area today.

Zero Down Auto Loans in Abilene

Down payments are generally necessary if you want to get a car financed.

The down payment decreases lender investment in the vehicle, and it makes up for the immediate drop in value you face with any new car purchase. If you haven’t got excellent credit, it is best to start setting aside funds for a down payment, or you could end up paying an excessively high interest rate. Regardless, when you apply online, there are many lenders and car dealers that offer 100% financing, even for folks who haven’t got the best credit.

Abilene Resources

Credit Unions

Credit UnionAddressZipTelephone
Abilene810 N 6th St79601(325) 677-2918
Abilene TeachersP.O. Box 570679608(325) 677-2274
Abilene Teachers2801 N 6th St79603(325) 677-2274
Abilene Teachers2555 Buffalo Gap Rd79605(325) 692-7265
Abilene Teachers1150 EN 10th79601(325) 677-2274
Abilene Teachers3849 Antilley Rd79606(325) 677-2274
Abilene Telco718 Cedar St79601(325) 673-5222
Acu#119 HARDIN ADMIN BLDG ACU BOX 28079699(325) 674-2486
Acu#119 Hardin Admin Bldg79699(325) 674-2486
Communities Of Abilene3661 N 6th St79603(325) 691-2300
Communities Of Abilene341 Avenue C79607(325) 691-2300
E M O TP. O. BOX 338379604(325) 673-3728
E M O T471 Cypress St79601(325) 673-3728
First Abilene1118 Pine St79601(325) 670-2429
First Abilene3324 Catclaw Dr79606(325) 691-5104
First Priority3165 S 27th St79605(325) 692-4089
Peoples Credit Union Of Abilene2180 Maple St79602(325) 692-3855
Txdot4174 Old Anson Rd79601(325) 676-8925