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In Utah, most folks buy their cars and trucks using a loan, as few have the money available for an outright purchase. How nice if this was a convenient process, but it’s really not. Finance companies want lots of information before deciding to approve you for financing. Instead of wasting time at the dealer or bank, you can request financing through our site. There are experts standing by, determined to help you get financed at an economical rate.

Auto Finance Rates in Utah

Many loan companies only advertise the most affordable rate they offer, only available to individuals with superior credit scores. In reality, your annual percentage rate varies greatly based on your FICO score, not to mention other things. The rates displayed below are only for informational purposes. These are not advertisements, and your exact rate will vary.

FICO Rating New Car Pre-owned Car
Excellent 3.3% 3.4%
Good 4.5% 4.8%
Average 6.4% 7.3%
Subprime 10.0% 9.9%
Bad 14.7% 16.2%
Very Bad 16.1% 18.2%

Used Car Auto Loans in Utah

We are continually hit with advertising for new cars. However, pre-owned cars and trucks are more affordable in the end, and they don’t lose value so fast. You can finance a low-mile used car or truck for so much less than the cost of a new one.

Years Old Price Rate Months Payment Interest Total Cost
New $16,000 6.00% 60 $309.32 $2,559 $18,559
1 Year $12,800 7.50% 60 $256.49 $2,589 $15,389
2 Years $10,880 7.50% 60 $218.01 $2,201 $13,081
3 Years $9,248 7.50% 60 $185.31 $1,871 $11,119

A second hand vehicle makes a great option, whether you’re financing or paying cash. Used car loans come with slightly higher interest rates, but in many cases, you only need 10% down, and the insurance premiums are less expensive.

Bad Credit Car Loans in Utah

Has your credit been marred by bankruptcy, foreclosure, or other similar issues? In simple terms, your FICO score is used a measure of risk. Fortunately, the internet has made it a lot easier for the bad credit buyer.

For individuals with recent bankruptcy or repossession, a buy here pay here car dealership is sometimes the only option. The rates of interest are very expensive, and the cars and trucks tend to be price over market value. Invariably, it’s better to go to a traditional bank or finance company. This is the way most people get approved, and it’s considerably more economical over time.

Go here to apply online.

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