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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


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[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Street address,Zip,Telephone” data=”Alaska USA FCU,7300 Roosevelt Way NE,98115,(206) 524-6689,Alaska USA FCU,11100 Roosevelt Way NE,98125,(206) 417-1940,Alaska USA FCU,2600 SW Barton St,98126,(206) 935-2444,Alaska USA FCU,2401 4th Ave,98121,(206) 443-1968,Boeing Employees,29 Mercer St,98109,(800) 233-2328,Boeing Employees,8704 Greenwood Ave N,98103,(800) 233-2328,Boeing Employees,2232 NW Market St,98107,(800) 233-2328,Boeing Employees,9620 28th Ave SW,98126,(800) 233-2328,Boeing Employees,1527 2nd Ave,98101,(800) 233-2328,Boeing Employees,12513 Lake City Way NE,98125,(800) 233-2328,Boeing Employees,401 Broadway E #125,98102,(800) 233-2328,Boeing Employees,4340 University Way NE,98105,(800) 233-2328,Boeing Employees,5105 25th Ave NE,98105,(800) 233-2328,Cascade,4035 23rd Ave W,98199,(206) 284-5156,CBC Credit Union,1805 S Main St,98144,(206) 325-7448,Community 1St,10700 27th Ave S,98168,(206) 367-7328,Credit Union Northwest,5700 4th Ave S,98108,(206) 768-0414,Express,PO BOX 94286,98134,(206) 622-1850,Express,1741 4th Ave S,98134,(206) 622-1850,First Technology,555 Terry Ave N,98109,(800) 637-0852,Group Health Credit Union,PO Box 19340,98109,(206) 298-9394,Kenworth Employee Credit Union,80222 Po Box,98101,(206) 767-8585,King County Medical Society Fe,200 Broadway,98122,(206) 621-9395,Megasystems Credit Union,5609 2nd Ave S,98108,(206) 762-1477,N@ Baptist Federal Credit Union,1604 19th Ave,98122,(206) 322-1604,Nordstrom,P O Box 1130,98111,(206) 774-2900,Nordstrom Credit Union,1321 2nd Ave,98101,(206) 233-6800,Northwest Baptist,1823 E Madison St #1604,98122,(206) 322-1604,Nw Employees Federal Credit Union,5801 East Marginal Way S,98134,(206) 762-2352,Pacific Northwest Ironworkers,4550 S 134th Pl,98168,(206) 835-0150,Port Of Seattle,PO Box 68727,98168,(206) 728-3040,Port Of Seattle,17801 International Blvd,98158,(206) 728-3040,Prevail,801 2nd Ave #100,98104,(206) 382-1888,Prevail,2265 1st Ave S,98134,(206) 382-1888,Prevail,401 5th Ave #100,98104,(206) 382-1888,Puget Sound,PO Box 9670,98109,(206) 623-5023,Puget Sound,2815 2nd Ave #100,98121,(206) 623-5023,Qualstar,1731 4th Ave S,98134,(800) 848-0018,Qualstar Credit Union,12324 8th Ave NE,98125,(206) 361-7211,Salal,1515 Dexter Ave N,98109,(206) 298-9394,Salal,11023 8th Ave NE,98125,(206) 298-9394,Salal,310 Westlake Ave N,98109,(206) 298-9394,Salal,115 15th Ave E,98112,(206) 298-9394,School Employees Credit Union,2445 3rd Ave S,98134,(206) 624-8547,School Employees Of Washington,PO Box 576,98111,(206) 628-4010,School Employees Of Washington,325 Eastlake Ave E,98109,(206) 628-4010,Seattle Metropolitan,801 3rd Ave,98104,(206) 398-5674,Seattle Metropolitan,10700 Meridian Ave N,98133,(206) 398-5575,Seattle Metropolitan,500 S Michigan St,98108,(206) 398-5744,Seattle Metropolitan,600 4th Ave,98104,(206) 398-5650,Seattle Metropolitan,3621 33rd Ave S,98144,(206) 398-5840,Seattle Pacific Credit Union,3120 3rd Ave W #100,98119,(206) 282-2066,Seattle Postal Employees Credit Union,241 S Lander St,98134,(206) 343-3066,Share Credit Union,1608 Fairview Ave E,98102,(206) 568-8080,Teamsters International Unions,552 Denny Way,98109,(206) 441-4134,Verity,11027 Meridian Ave N,98133,(206) 440-9000,Verity,4545 Stone Way N,98103,(206) 357-0644,Verity,11027 Meridian Ave N #101,98133,(206) 440-9000,Verity,1660 S Columbian Way,98108,(206) 762-0410,Verity,915 2nd Ave #290,98174,(206) 682-7622,Washington Credit Union,119 Cedar St,98121,(206) 270-9100,Washington State Bar Association CU,2030 Airport Way S,98134,(206) 623-5023,Washington State Employees CU,1100 NE 45th St #110,98105,(360) 943-7911,Washington State Employees CU,1500 Fairview Ave E,98102,(800) 562-0999,Washington State Employees CU,4141 University Way NE,98105,(206) 545-7181,Waterfront FCU,2414 SW Andover St,98106,(206) 622-8415,Waterfront FCU,15 S Spokane St,98134,(206) 622-8415,Watermark Credit Union – Seattle,800 Stewart St,98101,(206) 382-7000,Western Credit Union,811 Stewart St,98101,(206) 622-8318″][/tboot_table]