Who Has the Best Car Loan Rates?

January 14th, 2019 by

happy woman holding keys in driver seat of car

Depending on what kind of car you want to buy in the Newnan area, and depending on your current financial status, auto loan rates will vary. It is usually more helpful to shoppers to instead ask the question, “Who has the best car loan rates for me?” You can get your next loan through a bank or a credit union, with options like MyAutoLoan, U.S. Bank, and Bank of America. Drivers may also have the option to get a loan through their local authorized dealership. At Scott Evans Nissan, we can help you find the auto loan that fits your needs and budget. Contact our finance department today to learn more or apply online. We can even help you navigate making a down payment when you have bad credit.

What is the Current Interest Rate for Car Loans?

Current rates will normally depend on your credit score. Below is the credit score to average interest rate breakdown:

  • Excellent credit: 850 – 740 = 3.2% interest rate
  • Average credit: 739 – 680 = 4.5% interest rate
  • Sub-par credit: 680 and below = 6.5 – 12.9% interest rate

The better your credit history and score, the lower the interest rate will typically be, so it’s good to check your credit score and see where your finances are when getting ready to purchase your next vehicle in Douglasville. A great way to raise your credit score is by making small purchases and paying them off right away, and by making regular monthly payments as close to the full amount due as possible.

Car Loans and How to Get One

What is a good car loan rate? With phenomenal credit, a good car loan rate can be as low as 3.2%, and with bad credit it can be up to 12.9%. Applying for a vehicle loan online is an easy way to get the process started, and all you need are a few pieces of personal information:

  • Driver’s license and Social Security number
  • Employment verification
  • Proof of income
  • Proof of assets

Once you have these things in order, go online to apply for financing through Scott Evans Nissan. You can also come in to talk to someone in our finance department.

Apply for a Loan at Scott Evans Nissan

When you are ready to take the next step towards your next vehicle, whether it be new or used, visit Scott Evans Nissan near Villa Rica. We can help go over all your leasing and financing options, make sure you are taking advantage of any of our current vehicle specials, and even learn more about Nissan’s history then find your favorite model with a sunroof or moonroof! Contact us today with any questions about our models or if you want to find a new gym in Carrollton, GA.

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Posted in Finance