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Car and truck loans allow you to obtain a new car or truck, even if you haven’t got the necessary money at hand. Whether you are approved for financing will depend on many different factors, such as:

  • FICO Score
  • Earnings
  • Zip Code
  • Cash Down

In most cases, it’s better to put together your finance package ahead of time.

Finance companies and dealers will fight to finance your credit, putting you behind the wheel of the finance process.

Auto Finance Rates in Seattle

The majority of finance companies only display the lowest rate they have, limited to consumers with the very best FICO scores. The truth is, your annual percentage rate differs widely based on your credit score, among a variety of other variables. The rates shown below are only for informational purposes. They are not advertisements, and your exact rate could be very different.

Credit Score New Car Used Car
Excellent 3.5% 3.7%
Good 4.9% 5.6%
Average 6.7% 7.2%
Subprime 9.7% 8.5%
Bad 14.2% 17.5%
Very Bad 15.9% NA

Used Car Auto Loans in Seattle

Car manufacturers are most interested in selling brand new vehicles. Nevertheless, financing a pre-owned car or truck is a better value, since the total cost will be substantially less. Below, we examine the cost of financing a vehicle that is brand new versus 1-3 old.

Years Old Price Rate Months Payment Interest Total Cost
New $17,300 6.00% 60 $334.46 $2,767 $20,067
1 Year $13,840 7.50% 60 $277.33 $2,800 $16,640
2 Years $11,764 7.50% 60 $235.73 $2,380 $14,144
3 Years $9,999 7.50% 60 $200.37 $2,023 $12,022

A pre-owned car or truck is a great option, regardless of whether you’re getting a loan or not. Below are the typical limits on used vehicle financing:

  • Vehicle not more than 7-10 years old.
  • Mileage no higher than 100,000 miles.
  • Purchased through dealer, not private party.

Poor Credit Auto Loans in Seattle

By and large, loan companies prefer buyers with exceptional credit ratings, as car loans involve lots of money. If you’ve got a FICO score of 700 or higher, you shouldn’t have any issue locking down an auto loan, but approval and rate of interest both become considerations when you have unfavorable credit ratings. A couple of decades ago, lenders were rare who would fund auto loans for people with credit problems. Now many loan companies, including some banks, have special finance departments.

In Seattle, buy here pay here car dealerships wind up serving individuals in the lower credit levels While you will have no difficulty when it comes to approval, you’ll be charged a lot for the privilege. Instead, we recommend that you secure the loan you need online. This is the way most people nowadays get approved, and it’s much cheaper over the long haul.

Contact an auto finance professional in your area today.

Seattle Credit Improvement

Although your interest rate will be driven largely by your FICO score, there are things that you can do to make your car loan more economical. For starters, you should address any inaccuracies on your credit report. You can obtain your credit report for free at, a service offered by the three major credit bureaus. It takes 1-2 months to get any discrepancies resolved, after which time you may see an improvement in your credit score. Offering a larger down payment or adding a cosigner with a favorable credit record could also lessen your interest rate.

Can a Car Loan Improve Your Credit?

Financing a car can be a highly effective way to improve your credit history, but you have to ensure that you make your payments punctually. If you do business with a BHPH dealer, you will not have this ability. Even though the actual increase in your credit score is difficult to estimate, the improvement is significant.

Seattle Resources

Credit Unions

Credit UnionStreet addressZipTelephone
Alaska USA FCU7300 Roosevelt Way NE98115(206) 524-6689
Alaska USA FCU11100 Roosevelt Way NE98125(206) 417-1940
Alaska USA FCU2600 SW Barton St98126(206) 935-2444
Alaska USA FCU2401 4th Ave98121(206) 443-1968
Boeing Employees29 Mercer St98109(800) 233-2328
Boeing Employees8704 Greenwood Ave N98103(800) 233-2328
Boeing Employees2232 NW Market St98107(800) 233-2328
Boeing Employees9620 28th Ave SW98126(800) 233-2328
Boeing Employees1527 2nd Ave98101(800) 233-2328
Boeing Employees12513 Lake City Way NE98125(800) 233-2328
Boeing Employees401 Broadway E #12598102(800) 233-2328
Boeing Employees4340 University Way NE98105(800) 233-2328
Boeing Employees5105 25th Ave NE98105(800) 233-2328
Cascade4035 23rd Ave W98199(206) 284-5156
CBC Credit Union1805 S Main St98144(206) 325-7448
Community 1St10700 27th Ave S98168(206) 367-7328
Credit Union Northwest5700 4th Ave S98108(206) 768-0414
ExpressPO BOX 9428698134(206) 622-1850
Express1741 4th Ave S98134(206) 622-1850
First Technology555 Terry Ave N98109(800) 637-0852
Group Health Credit UnionPO Box 1934098109(206) 298-9394
Kenworth Employee Credit Union80222 Po Box98101(206) 767-8585
King County Medical Society Fe200 Broadway98122(206) 621-9395
Megasystems Credit Union5609 2nd Ave S98108(206) 762-1477
N@ Baptist Federal Credit Union1604 19th Ave98122(206) 322-1604
NordstromP O Box 113098111(206) 774-2900
Nordstrom Credit Union1321 2nd Ave98101(206) 233-6800
Northwest Baptist1823 E Madison St #160498122(206) 322-1604
Nw Employees Federal Credit Union5801 East Marginal Way S98134(206) 762-2352
Pacific Northwest Ironworkers4550 S 134th Pl98168(206) 835-0150
Port Of SeattlePO Box 6872798168(206) 728-3040
Port Of Seattle17801 International Blvd98158(206) 728-3040
Prevail801 2nd Ave #10098104(206) 382-1888
Prevail2265 1st Ave S98134(206) 382-1888
Prevail401 5th Ave #10098104(206) 382-1888
Puget SoundPO Box 967098109(206) 623-5023
Puget Sound2815 2nd Ave #10098121(206) 623-5023
Qualstar1731 4th Ave S98134(800) 848-0018
Qualstar Credit Union12324 8th Ave NE98125(206) 361-7211
Salal1515 Dexter Ave N98109(206) 298-9394
Salal11023 8th Ave NE98125(206) 298-9394
Salal310 Westlake Ave N98109(206) 298-9394
Salal115 15th Ave E98112(206) 298-9394
School Employees Credit Union2445 3rd Ave S98134(206) 624-8547
School Employees Of WashingtonPO Box 57698111(206) 628-4010
School Employees Of Washington325 Eastlake Ave E98109(206) 628-4010
Seattle Metropolitan801 3rd Ave98104(206) 398-5674
Seattle Metropolitan10700 Meridian Ave N98133(206) 398-5575
Seattle Metropolitan500 S Michigan St98108(206) 398-5744
Seattle Metropolitan600 4th Ave98104(206) 398-5650
Seattle Metropolitan3621 33rd Ave S98144(206) 398-5840
Seattle Pacific Credit Union3120 3rd Ave W #10098119(206) 282-2066
Seattle Postal Employees Credit Union241 S Lander St98134(206) 343-3066
Share Credit Union1608 Fairview Ave E98102(206) 568-8080
Teamsters International Unions552 Denny Way98109(206) 441-4134
Verity11027 Meridian Ave N98133(206) 440-9000
Verity4545 Stone Way N98103(206) 357-0644
Verity11027 Meridian Ave N #10198133(206) 440-9000
Verity1660 S Columbian Way98108(206) 762-0410
Verity915 2nd Ave #29098174(206) 682-7622
Washington Credit Union119 Cedar St98121(206) 270-9100
Washington State Bar Association CU2030 Airport Way S98134(206) 623-5023
Washington State Employees CU1100 NE 45th St #11098105(360) 943-7911
Washington State Employees CU1500 Fairview Ave E98102(800) 562-0999
Washington State Employees CU4141 University Way NE98105(206) 545-7181
Waterfront FCU2414 SW Andover St98106(206) 622-8415
Waterfront FCU15 S Spokane St98134(206) 622-8415
Watermark Credit Union - Seattle800 Stewart St98101(206) 382-7000
Western Credit Union811 Stewart St98101(206) 622-8318