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For most buyers in San Antonio, a loan is required to buy a new car, truck, or SUV. Unfortunately, obtaining an auto loan can be a considerable hassle, particularly if you’ve got poor credit. Rather than trekking from lender to lender, hoping to get financed, you can apply today through our site.

You could be driving of a new car in no time flat.

Auto Loan Rates in San Antonio

Listed below we’ve got rates estimated at different credit scores. These aren’t to be regarded as advertisements. Actual rates vary.

Credit Score New Car Used 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 San Antonio

Options like zero percent car loans and no money down can be found on new cars if you’ve got excellent credit. Elevated rates of interest for used vehicles, however, are compensated by cheaper down payments, monthly payments, and insurance premiums. The numbers speak on their own.

Years Old Price APR Months Payment Interest Total Cost
New $16,100 6.00% 60 $311.26 $2,575 $18,675
1 Year $12,880 7.50% 60 $258.09 $2,605 $15,485
2 Years $10,948 7.50% 60 $219.38 $2,215 $13,163
3 Years $9,306 7.50% 60 $186.47 $1,882 $11,188

Many cars depreciate 15% each year, so you can obtain a low-mileage used car for thousands less than a brand new one. Most lenders allow you to finance a pre-owned vehicle that’s up to ten years old, sometimes a little less, and some have a mileage cap of 100K miles.

Poor Credit Car Loans in San Antonio

Getting financed with below-average credit can be quite a job, particularly if you would rather not pay an excessive rate of interest. In effect, lenders look at your credit rating to determine whether or not you’ll make your payments as scheduled. Fortunately, you can now find loan companies who cater to consumers with poor credit.

Lots of people wind up relying on San Antonio buy here pay here car dealerships that don’t check a customer’s credit. The drawbacks are sizeable: exorbitant annual percentage rates and lots of conditions.

You will be happier getting a loan from a traditional bank, credit union, or loan provider. The down payments are less expensive, as are the annual percentage rates, and the service is commonly much superior.

Best of all, you can submit your application online.

Limiting Your Annual Percentage Rate

Besides purchasing a more inexpensive vehicle, the best way to lower your payment amount is by boosting your FICO score. Is your credit report marred by any discrepancies? These can harm your credit score more than you might expect. A lot of consumers don’t realize that, once a year, you can check your credit report at no cost via www.AnnualCreditReport.com. It will take 30-60 months to get any mistakes corrected. If you don’t have a good credit rating, having somebody with a good credit rating cosign your loan could bring about a less expensive interest rate.

Zero Down Financing in San Antonio

Are you aiming to buy a car in San Antonio with no money down? Truth be told, getting a car financed with no down payment can be tough. Having no down payment increases your rate of interest. When you have perfect credit, this isn’t an issue, as your rate will be low no matter what. If you’ve got bad credit, on the other hand, your rate could go up a lot. You’re better off saving money for a down payment, or exchanging your existing vehicle for equity.

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