My Car Lender

Home / Finance / West Virginia Auto Finance / Parkersburg (WV) Auto Loans


If you’re interested in a new or used vehicle, chances are you’ll need an auto loan to complete your purchase. A lot of the time, car loans are arranged in the F&I office, but this can take hours. Instead of trekking from business to business, hoping to secure a loan, you can submit one single application online.

A local finance expert can walk you through the process, helping you obtain the car loan package you need from a company that offers reasonable rates of interest.

Auto Loan Rates in Parkersburg

A lot of loan companies only show you the lowest rate they have, limited to consumers with the very best credit scores. The truth is, your rate of interest can vary widely based on your FICO score, plus other factors. The rates displayed below are only for informational purposes. These are not advertisements, and your exact rate could be very different.

FICO Rating New Car Used Car
Excellent 3.2% 3.7%
Good 4.4% 5.3%
Average 7.5% 8.9%
Subprime 10.2% 10.8%
Bad 13.3% 13.6%
Very Bad 13.9% 14.2%

You need to know what your FICO score is. You can check your score here online.

Used Auto Loans in Parkersburg

The interest rates are increased on pre-owned autos, since they introduce a somewhat greater risk of maintenance troubles. Still, a second hand auto loan has many benefits:

  • Smaller down payment needed.
  • Decreased purchase price.
  • Minimized risk of car poor.

The figures speak on their own.

Years Old Price Rate Months Payment Interest Total
New $29,800 6.00% 60 $576.12 $4,767 $34,567
1 Year $23,840 7.50% 60 $477.70 $4,822 $28,662
2 Years $20,264 7.50% 60 $406.05 $4,099 $24,363
3 Years $17,224 7.50% 60 $345.14 $3,484 $20,708

The minute it leaves the dealer lot, a new car loses up to 25% of its value, and it continues dropping a significant chunk of its value year after year. A car that cost $29,800 when new will be worth only around $17,224 after 36 months of ownership. Generally, you can get a car loan for a vehicle that’s up to 10 years old. Mileage restrictions often apply.

Bad Credit Car Loans in Parkersburg

Has your credit been marred by chapter 7/13 bankruptcy, foreclosure, or other issues like this? With a credit score of 700 or above, obtaining a car loan should be easy, but approval and annual percentage rate both become concerns if you have adverse credit. Fortunately, the internet has made it less of a challenge for the consumer with a bad credit score.

In house loans are another option, supplied by Parkersburg’s buy here pay here (BHPH) car lots. Having no credit check comes at a price: excessively high rates of interest, inflexible terms and conditions, and high-priced, well-used vehicles. More often than not, it’s best to work with a traditional bank, credit union, or finance company. There are many benefits: superior rates of interest, significantly better service, and if you make your payments as agreed, an improved FICO score.

Best of all, you can submit your application online.

Zero Down Auto Loans in Parkersburg

Do you need to finance a car, but you have no cash as a down payment? Honestly, getting a zero down auto loan can be tough. By applying online, it’s possible to increase your chances of securing this kind of a deal, as car dealers are able to see your preferred down payment upfront. If you leave the down payment field empty, the finance consultant will know what you need.

Parkersburg Resources

Credit Unions


[tboot_column size=”15″]

[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Street address,Zip Code,Phone” data=”C C M H,801 Ann St,26101,(304) 424-2255,IBEW 968,1845 7th St,26101,(304) 424-6666,IRS W Va Federal Credit Union,425 Juliana St,26101,(304) 424-7256,Mountain Heritage,1822 7th St,26101,(304) 424-7256,One Community Federal Credit Union,531 5th St,26101,(304) 485-4066,One Community Federal Credit Union,200 S 3rd St,26101,(304) 428-2492,Union Trades,1925 Murdoch Ave,26101,(304) 485-1421,Wee,3312 Dudley Ave,26104,(304) 420-9517,West Virginia Central,1306 Murdoch Ave,26101,(304) 485-4523,Wood County Community,2435 Dudley Ave,26101,(304) 865-2361″][/tboot_table]