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Generally folks elect to purchase their cars and trucks through financing, making monthly installments as opposed to forking over the whole amount at once. Unfortunately, arranging an auto loan can be a tiresome process, prolonging the entire car shopping process. We make it possible to get approved for an auto loan the day you apply, at a low rate of interest, no matter your credit score.

An auto loan professional can walk you through the process, helping you get a loan from a company that won’t charge you an arm or leg.

Auto Loan Rates in Austin

Here you’ll find rates of interest you can expect at varying credit scores. These are not to be perceived as advertisements. Actual interest rates differ.

Credit 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 Car Loans in Austin

New vehicles are attractive, for sure. Having said that, to put yourself in the strongest financial position, you might want to choose a second hand car. Check out the table below.

Years Old Price APR Months Payment Interest Total Cost
New $18,000 6.00% 60 $347.99 $2,879 $20,879
1 Year $14,400 7.50% 60 $288.55 $2,913 $17,313
2 Years $12,240 7.50% 60 $245.26 $2,476 $14,716
3 Years $10,404 7.50% 60 $208.47 $2,104 $12,508

After it leaves the dealer lot, a new vehicle loses as much as a quarter of its value, and it continues burning off a significant percentage of its value every year. A car or truck that cost $18,000 new will be worth only around $10,404 three years later. Used car loans have slightly higher rates, but in many instances, you only need 10% down, and the insurance premiums are less costly.

Poor Credit Car Loans in Austin

Do you have a credit score in the mid to low 600s? A lot of consumers choose to ignore checking their credit score, because they just don’t want to know. However, you really should keep an eye on your score. Fortunately, you can now find loan companies who meet the needs of individuals with poor credit.

Buy here pay heredealers are another option. The interest rates border on criminal, and the vehicles tend to be overpriced. You will be better off with an auto loan from a traditional bank, credit union, or loan company. The down payments are cheaper, the same as the rates of interest, and the service is far better.

Go here to apply online.

No Money Down Financing in Austin

In most situations, you’ll still need some actual cash to get financed, as a down payment of 10-20% is usually necessary.

The down payment compensates for the rapid drop in value you face with any new vehicle sale. Having no down payment raises your interest rate. If you have excellent credit, this is a reduced concern, as your rate is affordable already. If you have less-than-perfect credit, such a high interest rate is never the best idea. You’re better off saving money for a down payment or exchanging your old vehicle for equity.

Austin Resources

Credit Unions

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[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Street address,Zip Code,Phone” data=”A+,PO BOX 14867,78761,(512) 302-6800,A+,6114 W William Cannon Dr,78749,(512) 302-6800,A+,13087 Research Blvd,78750,(512) 302-6800,A+,3600 RR 620 South Ste D,78738,(512) 302-6800,A+,6420 E Hwy 290,78723,(512) 302-6800,A+,1402 W Stassney Ln,78745,(512) 302-6800,A+,13212 N Lamar Blvd,78753,(512) 302-6800,Amplify,PO BOX 85300,78708,(512) 836-5901,Amplify,13050 Pond Springs Rd,78729,(512) 836-5901,Amplify,2608 Brockton Dr,78758,(512) 836-5901,Amplify,607 Congress Ave,78701,(512) 836-5901,Austin,1900 Woodward St,78722,(512) 444-6419,Austin,7600 Metropolis Dr,78744,(512) 460-5212,Austin Telco,8929 Shoal Creek Blvd,78757,(512) 302-5555,Austin Telco,1100 Center Ridge Dr,78753,(512) 302-5555,Austin Telco,4446 Frontier Trail,78704,(512) 302-5555,Austin Telco,13831 Research Blvd,78750,(512) 302-5555,Austin Telco,12188 Jollyville Rd,78759,(512) 302-5555,Austin Telco,2400 Taos Blvd,78745,(512) 302-5555,Austin Telco,7501 E Hwy 290,78723,(512) 302-5555,Austin Telco,9220 Brodie Ln,78749,(512) 302-5555,Capital Credit Union,7801 N Lamar Blvd,78752,(512) 391-2899,Capitol,PO BOX 141069,78714,(512) 477-9465,Capitol,1718 Lavaca St,78701,(512) 477-9465,Capitol,11902 Burnet Rd,78759,(512) 477-9465,Capitol,1101 N Interstate 35,78702,(512) 477-9465,Farmers Insurance Group,15700 Long Vista Dr,78728,(800) 877-2345,Government Employees,PO BOX 81535,78708,(512) 339-9812,Government Employees,10806 Metric Blvd,78758,(512) 339-9812,Government Employees,1821 Directors Blvd,78744,(512) 445-6120,Government Employees,6314 S 1st St,78745,(512) 326-9384,Government Employees,3651 South IH35,78741,(512) 443-1261,Greater Texas,6411 N Lamar Blvd,78752,(512) 425-2558,Greater Texas,701 W 51st St,78751,(800) 749-9732,Greater Texas,1180 Airport Blvd,78702,(800) 749-9732,H-E-B,6929 Airport Blvd,78752,(512) 302-1015,Lcra,P.O. Box 5310,78763,(512) 474-1562,Lcra,3701 Lake Austin Blvd,78703,(512) 474-1562,Lcra,3505 Montopolis Dr,78744,(512) 356-6068,National Western Life,850 E Anderson Ln,78752,(512) 719-2376,Nizari Progressive,5555 N Lamar Blvd,78751,(512) 450-1401,Public Employees,PO Box 2205,78768,(512) 474-1955,Public Employees,1200 W 42nd St,78756,(512) 474-1955,Public Employees,8013 Centre Park Dr,78754,(512) 474-1955,Public Employees,306 E 10th St,78701,(512) 474-1955,Randolph-Brooks,3110 N Lamar Blvd,78705,(210) 945-3333,Randolph-Brooks,14100 North IH 35 SVRD SB,78728,(210) 945-3333,Randolph-Brooks,205 W Ben White Blvd,78704,(210) 945-3333,Randolph-Brooks,8620 Burnet Rd,78757,(210) 945-3333,Randolph-Brooks,10135 Lake Creek Pkwy,78750,(210) 945-3333,Southwest Corporation,11804 North Dr,78753,(512) 836-1552,Star Of Texas,114 E Huntland Dr,78752,(512) 458-8253,Star Of Texas,1117 Trinity St,78701,(512) 478-1050,Star Of Texas,101 E 15th St,78701,(512) 472-2818,Star Of Texas,133 E Ben White Blvd,78704,(512) 326-1001,Star One Credit Union,6800 Burleson Rd,78744,(512) 385-4700,State Farm,8900 Amberglen Blvd,78717,(512) 918-5933,Texans,12515-7 Research Blvd #160,78727,(972) 348-2790,Texas Dps,PO Box 15346,78761,(512) 452-5211,Texas Dps,621 W St Johns Ave,78752,(512) 452-5211,Texas Health,P O BOX 4003,78765,(512) 454-4636,Texas Health,4800 Grover Ave,78756,(512) 454-4636,Texoma Educators Federal Credit Union,900 Grandview St,78705,(903) 813-2446,Travis County,1101 N IH 35,78702,(512) 477-2641,Truwest,13609 N I H 35,78753,(512) 252-6000,Truwest,6001 W William Cannon Dr #100,78749,(512) 421-3400,Truwest,12221 Riata Trace Pkwy #110,78759,(512) 249-4800,United Heritage,P.O. Box 1648,78768,(512) 435-4545,United Heritage,5011 W Slaughter Ln,78749,(512) 435-4545,United Heritage,2009 S Capital of Texas Hwy #100,78746,(512) 435-4545,United Heritage,3600 Presidential Blvd #114b,78719,(512) 435-4545,United Heritage,3317 Ranch Road 620 S,78738,(512) 435-4545,United Heritage,6400 Manchaca Rd,78745,(512) 435-4545,United Heritage,12208 N Mopac Expy,78758,(512) 435-4545,University,PO Box 9350,78766,(512) 467-8080,University,13860 N Hwy 183,78750,(512) 467-8080,University,4611 Guadalupe St,78751,(512) 467-8080,University,2244 Guadalupe St,78705,(512) 467-8080,University,9925 Brodie Ln,78748,(512) 467-8080,University,130 E Ben White Blvd,78704,(512) 467-8080,University,5033 W Hwy 290,78735,(512) 467-8080,University,3305 Steck Ave,78757,(512) 467-8080,University,702 Colorado St,78701,(512) 467-8080,Vatat,614 E 12th St,78701,(512) 472-3258,Vatat Credit Union,6210 East Highway 290 Ofc,78723,(512) 472-3258,Velocity,P.O. Box 1089,78767,(512) 469-7000,Velocity,4220 S Lamar Blvd,78704,(512) 469-7000,Velocity,1201 W Braker Ln,78758,(512) 469-7000,Velocity,S I H 35,78748,(512) 469-7000,Velocity,610 E 11th St,78701,(512) 469-7000″][/tboot_table]

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