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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

Credit UnionStreet addressZip CodePhone
A+PO BOX 1486778761(512) 302-6800
A+6114 W William Cannon Dr78749(512) 302-6800
A+13087 Research Blvd78750(512) 302-6800
A+3600 RR 620 South Ste D78738(512) 302-6800
A+6420 E Hwy 29078723(512) 302-6800
A+1402 W Stassney Ln78745(512) 302-6800
A+13212 N Lamar Blvd78753(512) 302-6800
AmplifyPO BOX 8530078708(512) 836-5901
Amplify13050 Pond Springs Rd78729(512) 836-5901
Amplify2608 Brockton Dr78758(512) 836-5901
Amplify607 Congress Ave78701(512) 836-5901
Austin1900 Woodward St78722(512) 444-6419
Austin7600 Metropolis Dr78744(512) 460-5212
Austin Telco8929 Shoal Creek Blvd78757(512) 302-5555
Austin Telco1100 Center Ridge Dr78753(512) 302-5555
Austin Telco4446 Frontier Trail78704(512) 302-5555
Austin Telco13831 Research Blvd78750(512) 302-5555
Austin Telco12188 Jollyville Rd78759(512) 302-5555
Austin Telco2400 Taos Blvd78745(512) 302-5555
Austin Telco7501 E Hwy 29078723(512) 302-5555
Austin Telco9220 Brodie Ln78749(512) 302-5555
Capital Credit Union7801 N Lamar Blvd78752(512) 391-2899
CapitolPO BOX 14106978714(512) 477-9465
Capitol1718 Lavaca St78701(512) 477-9465
Capitol11902 Burnet Rd78759(512) 477-9465
Capitol1101 N Interstate 3578702(512) 477-9465
Farmers Insurance Group15700 Long Vista Dr78728(800) 877-2345
Government EmployeesPO BOX 8153578708(512) 339-9812
Government Employees10806 Metric Blvd78758(512) 339-9812
Government Employees1821 Directors Blvd78744(512) 445-6120
Government Employees6314 S 1st St78745(512) 326-9384
Government Employees3651 South IH3578741(512) 443-1261
Greater Texas6411 N Lamar Blvd78752(512) 425-2558
Greater Texas701 W 51st St78751(800) 749-9732
Greater Texas1180 Airport Blvd78702(800) 749-9732
H-E-B6929 Airport Blvd78752(512) 302-1015
LcraP.O. Box 531078763(512) 474-1562
Lcra3701 Lake Austin Blvd78703(512) 474-1562
Lcra3505 Montopolis Dr78744(512) 356-6068
National Western Life850 E Anderson Ln78752(512) 719-2376
Nizari Progressive5555 N Lamar Blvd78751(512) 450-1401
Public EmployeesPO Box 220578768(512) 474-1955
Public Employees1200 W 42nd St78756(512) 474-1955
Public Employees8013 Centre Park Dr78754(512) 474-1955
Public Employees306 E 10th St78701(512) 474-1955
Randolph-Brooks3110 N Lamar Blvd78705(210) 945-3333
Randolph-Brooks14100 North IH 35 SVRD SB78728(210) 945-3333
Randolph-Brooks205 W Ben White Blvd78704(210) 945-3333
Randolph-Brooks8620 Burnet Rd78757(210) 945-3333
Randolph-Brooks10135 Lake Creek Pkwy78750(210) 945-3333
Southwest Corporation11804 North Dr78753(512) 836-1552
Star Of Texas114 E Huntland Dr78752(512) 458-8253
Star Of Texas1117 Trinity St78701(512) 478-1050
Star Of Texas101 E 15th St78701(512) 472-2818
Star Of Texas133 E Ben White Blvd78704(512) 326-1001
Star One Credit Union6800 Burleson Rd78744(512) 385-4700
State Farm8900 Amberglen Blvd78717(512) 918-5933
Texans12515-7 Research Blvd #16078727(972) 348-2790
Texas DpsPO Box 1534678761(512) 452-5211
Texas Dps621 W St Johns Ave78752(512) 452-5211
Texas HealthP O BOX 400378765(512) 454-4636
Texas Health4800 Grover Ave78756(512) 454-4636
Texoma Educators Federal Credit Union900 Grandview St78705(903) 813-2446
Travis County1101 N IH 3578702(512) 477-2641
Truwest13609 N I H 3578753(512) 252-6000
Truwest6001 W William Cannon Dr #10078749(512) 421-3400
Truwest12221 Riata Trace Pkwy #11078759(512) 249-4800
United HeritageP.O. Box 164878768(512) 435-4545
United Heritage5011 W Slaughter Ln78749(512) 435-4545
United Heritage2009 S Capital of Texas Hwy #10078746(512) 435-4545
United Heritage3600 Presidential Blvd #114b78719(512) 435-4545
United Heritage3317 Ranch Road 620 S78738(512) 435-4545
United Heritage6400 Manchaca Rd78745(512) 435-4545
United Heritage12208 N Mopac Expy78758(512) 435-4545
UniversityPO Box 935078766(512) 467-8080
University13860 N Hwy 18378750(512) 467-8080
University4611 Guadalupe St78751(512) 467-8080
University2244 Guadalupe St78705(512) 467-8080
University9925 Brodie Ln78748(512) 467-8080
University130 E Ben White Blvd78704(512) 467-8080
University5033 W Hwy 29078735(512) 467-8080
University3305 Steck Ave78757(512) 467-8080
University702 Colorado St78701(512) 467-8080
Vatat614 E 12th St78701(512) 472-3258
Vatat Credit Union6210 East Highway 290 Ofc78723(512) 472-3258
VelocityP.O. Box 108978767(512) 469-7000
Velocity4220 S Lamar Blvd78704(512) 469-7000
Velocity1201 W Braker Ln78758(512) 469-7000
VelocityS I H 3578748(512) 469-7000
Velocity610 E 11th St78701(512) 469-7000