First Tech Federal Credit Union is our top pick for used auto loans, largely thanks to being flexible with loan terms and vehicle qualifications. First Tech’s minimum loan amount ($1,000) is nearly as l♉ow as it gets, which is helpful if you want to buy an inexpensive vehicle. You likely won’t have to borrow more than the car is worth. And you can pick repayment terms as short as one year, if you can afford it, which can help keep overall costs low by reducing interest costs compared to a longer term.

First Tech has relatively lenient mileage and age restrictions too, so you can get a loan for an older, well-traveled vehicle. It allows vehicles up to 10 years old with up to 150,000 miles; that mileage limit is as high as it gets among lenders in our research (aside from USAA, which has no limit). And you’re not limited꧃ to dealerships—you can use a First Tech loan to buy a car from a private party, expanding your options even further.

You’ll need to join First Tech to get an auto loan, but it may easily be worth it if you can get the loan you need at a reasonable rate. Anyone can join by making an $8 donation to the Financial Fitness Association or meeting oth🌄er requirements.

If you have grꦐeat credit and want the lowest APR you can get, consider pre-qualifying with Consumers Credit Union. Consumers’ minimum APR for used car loans is as low as it gets among lenders included in our research, which could let you save some money compared to a lender with a higher minimum ra🏅te.

But you’ll have to ea🍒rn that excellent rate, and not al💫l vehicles are eligible. Consumers looks for a minimum of five years of credit history and a minimum credit score of 681, although other requirements are involved. 

You can’t use a Consumers auto loan to buy a car♋ from a private party—you must go to a dealership. You can only borrow up to $55,000. And you’re limited to cars no older than 6 years old with no more than 100,000 miles. Consumers’ vehicle restrictions are more stringent than most, but if you qualify you may ♎get an exceptionally low rate.

There are a lot of online auto loan lenders with odd names pushing you to get a loan. Instead, you may want to go with a well-established bank you’re more familiar with. Bank of America is available nationwide and can meet tha💛t need for many people.

You won’t find many flashy features, but you can get a rate discount of 0.25% to 0.50% if you’re a BofA Preferred Rewards member. You can 澳洲幸运5开奖号码历史查询:pre-qualify for a rate that’ll be available 30 days, although you need a Bank of America login to pre-qualify. If you don’t have one, you’ll need to submit a f♕ull application to check your eligibility and rates.

One downside is that Bank of America doesn’t provide loans for private party vehicle purchases, so you’re limited to dealerships. And you’ll have to borrow at least $7,500, which may be too much f𒐪or some vehicles. 

Your loan’s APR is important, but you൲r other loan terms play an important role in the kind of vehicle you can get and how much ♚you pay. In particular, the loan amount you qualify for will help determine how much car you can buy. And the repayment term you choose helps determine the size of your monthly payment and how much you pay overall.

U.S. Bank is a good pick if you need some flexibility or are looking for loan terms on the outer end of the typical range, particularly when it comes to repayment terms. You can get a loan for as short as one year or as long as seve🍷n years, the widest range available among lenders in♏cluded in our research. 

You may be able to get your loan funds on the same day you’re approved, according to a media representative, but this is likely only for qualified borrowers. You won’t be able to use a U.S. Bank loan for a private party purchase from an individual. And you can’t pre-qualify; you’ll have to submit a full application and submit to a 澳洲幸运5开奖号码历史查询:hard credit inquiry to check your rates.

If you’re not shopping new, Cap😼ital One is another lender with loans suited to older cars. It’ll finance vehicles up to 10 years old with up to 150,000 miles, giving you a wide selection of cars to choose from. You’re limited to dealerships, rather than individual sellers, but Capital One’s Auto Navigator 🌌can make finding the right car a bit easier.

Capital One allows you to pre-qualify without being an active banking customer, which isn’t true for all lenders. This can take some of the stress out of rate-shopping, although you will need to set up a Capital One account, which shouldn’t take long. The terms you pre-qualify for can be included in Auto𒅌 Navigator, simplifying the whole car-buying process even further.

One downside to getting a loan through Capital One is the potential for an extra fee. According to a company representative, you may pay an origination fee 🅠that varies in cost. Most oth✃er lenders included in our research don’t charge origination fees.

Dealing with bad credit can be difficult when you don’t have a co-signer, but don’t despair. There are lenders that may lend to you, although you’ll likely need to accept worse terms than average. But most lenders don’t disclose their credit requirements, unfortunately, so it can be tou♔gh to know where to focus when rate shopping.

Ally Bank is one of the few lenders included in our research to provide a recommended minimum credit score, and it’s just 520. That’s in the “Poor” range of the typical 澳洲幸运5开奖号码历史查询:FICO credit score. Ally also discloses its minimum income requirement: $2,000 pﷺer yeaꦍr. Keep in mind that you’ll need to meet a variety of other borrower requirements too.

You can get an exceptionally high 澳洲幸运5开奖号码历史查询:loan-to-value (LTV) ratio (the ratio of your loan to the value of the car) from Ally—your loan amounౠt can be up to 140% of the car’s value. This likely won’t matter for most borrowers but in some cases it may be necessary, such as if you have to pay quite a few extra fees for the vehicle purchase.

A major limitation is that you can only use an Ally auto loan with certain partner dealerships. You’ll have to use the dealer locator tool on🌠 Ally’s website and contact specific dealerships to check your loan eligibility. But if you have poor credit or need a very high LTV ratio, you may have to jump t🍸hose hurdles to get a loan.