MINIMUM REQUIREMENTS FOR GETTING AN AUTO LOAN
Getting an auto loan is possible at any credit level, but the more you have of these, the better your chances of qualifying at a better rate:
We offer tons of help in securing your loan, but we can't provide:
WHAT RATE CAN I EXPECT TO PAY?
That depends on a lot of things, including whether you're buying a new or used vehicle, plus:
However, as a general rule (and remember, this is just an estimate) you can follow the "700 credit score/ 7 percent loan rate" rule. That's 7 percent interest on a credit score 700 or above, which rises to a rate of between 7 1/2 to 10 percent if you score in the 600s; and 15 percent if you score in the 500s. If your score is really low, under 500, the truth is you'll pay something like 20 percent. Again, whatever your credit ranking, we'll work to get you the best loan at the best rate.
Getting an auto loan is possible at any credit level, but the more you have of these, the better your chances of qualifying at a better rate:
--A full-time job
--At least $1,500 monthly gross income
--A credit record free of bankruptcies (though we do help even bankruptcy cases)
--No personal propery repossessions in the last year
--Proof of U.S. citizenship
--Age of 18 years or older
--At least $1,500 monthly gross income
--A credit record free of bankruptcies (though we do help even bankruptcy cases)
--No personal propery repossessions in the last year
--Proof of U.S. citizenship
--Age of 18 years or older
We offer tons of help in securing your loan, but we can't provide:
--Refinancing or title loans
--Vehicles from outside our dealer network
--Loans for purchases of vehicles from want ads or other non-commercial sources
--Vehicles from outside our dealer network
--Loans for purchases of vehicles from want ads or other non-commercial sources
WHAT RATE CAN I EXPECT TO PAY?
That depends on a lot of things, including whether you're buying a new or used vehicle, plus:
--Loan length
--How much of a downpayment you can afford
--How much of a downpayment you can afford
However, as a general rule (and remember, this is just an estimate) you can follow the "700 credit score/ 7 percent loan rate" rule. That's 7 percent interest on a credit score 700 or above, which rises to a rate of between 7 1/2 to 10 percent if you score in the 600s; and 15 percent if you score in the 500s. If your score is really low, under 500, the truth is you'll pay something like 20 percent. Again, whatever your credit ranking, we'll work to get you the best loan at the best rate.