My Car Lender

Home / Finance / Virginia Auto Finance / Newport News (VA) Auto Loans


Nearly all new cars and trucks are bought with a loan or leased. Whether you’re approved for financing hinges on a number of factors, such as your credit score, income, location, occupational history, cash or trade, and debt to income ratio. To accelerate the process, you can sign up online for an auto loan.

This is particularly useful for individuals who have a low credit score, as a variety of dealers and lending companies will consider your credit, a number of of which specialize in subprime lending.

Auto Loan Rates in Newport News

These rates of interest aren’t ads, but estimates to give you an idea of what interest rate can be expected given your location and your credit score. The rate you’re offered may vary substantially from what’s displayed here.

Credit Score New Car Used Car
Excellent 3.3% 3.5%
Good 4.7% 4.8%
Average 6.9% 7.3%
Subprime 9.8% 10.5%
Bad 13.3% 14.4%
Very Bad 13.8% 15.5%

Used Auto Loans in Newport News

New vehicles have the most affordable loan rates. With that being said, financing a pre-owned car or truck is smarter, since the overall cost will be significantly less. Here, we examine the costs of financing a vehicle that is new versus one, two, or three years old.

Age Price Rate Months Payment Interest Total Cost
New $28,000 6.00% 60 $541.32 $4,479 $32,479
1 Year $22,400 7.50% 60 $448.85 $4,531 $26,931
2 Years $19,040 7.50% 60 $381.52 $3,851 $22,891
3 Years $16,184 7.50% 60 $324.29 $3,274 $19,458

For the majority of us, a used car is a great option. Companies charge higher rates of interest for pre-owned vehicles, but in most situations, you only need 10% down, and the insurance premiums are less costly.

Poor Credit Auto Loans in Newport News

Has your credit been marred by chapter 7/13 bankruptcy, repossession, or other issues like this? Higher FICO ratings typically lead to reduced rates, but it’s a good deal more complicated than that. Usually, it’s better to consult a professional who can guide you through the process.

On the spot financing is a second option, available at Newport News’s buy here pay here car dealers. With no credit check comes at a price: outrageous rates, strict conditions, and overpriced vehicles.

Instead, you’re better off if you search for your loan via the internet. The interest rates should be less expensive, the terms improved, and you have the ability to re-establish your credit along the way.

Best of all, you can submit your application online.

Newport News Credit Repair

There are a lot of methods to lessen your annual percentage rate. Is your credit report marked by any errors? These can damage your credit score more than you might think. Fortunately, it’s free to check your credit report annually at

You can address any inaccuracies on your own, or engage a credit repair company to write the dispute letters for you. Furnishing a more substantial down payment or adding a cosigner with good credit can also lessen your interest rate.

No Down Payment Cars in Newport News

Saving enough cash you need to get a car or truck can be challenging, even if you’re only making a down payment. No down payment auto loans, like zero percent financing offers, are usually available only to individuals who have top notch credit. By completing your application online, it’s possible to boost your chances of obtaining such a package, as dealers can see your preferred down payment in advance. If you leave the down payment field blank, the finance specialist will understand.

Newport News Resources

Credit Unions


[tboot_column size=”15″]

[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Address,Zip Code,Phone” data=”1st Advantage FCU,PO Box 2116,23609,(757) 877-2444,1st Advantage FCU,12891 Jefferson Ave,23608,(757) 877-2444,1st Advantage FCU,12490 Warwick Blvd,23606,(757) 877-2444,1st Advantage FCU,590 Fort Story,23602,(757) 877-2444,Bayport Credit Union,3711 Huntington Ave,23607,(757) 928-8850,Bayport Credit Union,11820 Fountain Way,23606,(757) 928-8850,Bayport Credit Union,8000 Marshall Ave,23605,(757) 928-8850,Bayport Credit Union,12512 Warwick Blvd,23606,(757) 928-8850,Bayport Credit Union,433 Denbigh Blvd,23608,(757) 928-8850,Bayport Credit Union,5001 Huntington Ave,23607,(757) 928-8850,Chartway,353 Chatham Dr,23602,(757) 552-1000,Langley,721 Lakefront Commons #400,23606,(757) 827-7200,Navy Federal Credit Union,12828 Jefferson Ave,23608,(888) 842-6328,Newport News Mun. Emp Credit Union,502 Operations Dr,23602,(757) 249-1003,Newport News Mun. Emp Credit Union,210 25th St,23607,(757) 926-1707,Newport News Neighborhood,2410 Wickham Ave,23607,(757) 247-0071,Newport News Shipbuilding Employees’ CU,12401 Warwick Blvd,23606,(757) 928-8850,Riverside Health System Employees’,500 J Clyde Morris Blvd,23601,(757) 594-2030,Virginia Educators Credit Union,12626 Nettles Dr,23606,(757) 930-2425,Virginia Educators Credit Union,812 Main St,23605,(757) 595-6765,Virginia Educators Credit Union,12368 Warwick Blvd,23606,(757) 952-1760,Virginia Educators Credit Union,Nettles Dr,23601,(757) 930-2425,Virginia Educators’ Credit Union,Christopher Newport,23604,(757) 595-5310″][/tboot_table]