Auto Loans in Ashland (KY)

If you’d like to finance a car in Ashland, you have found the right team. Our network of dealers and finance companies is unequalled, and we have one of the highest success rates in the business. It is difficult to find an easier way to obtain the financing required for your new car.

Ashland Car Loan Rates

Your interest rate will be determined by, as you probably know, your credit history, your lender, and the type of vehicle (new or used).

Factor Better Rate Higher Rate
Credit Better Worse
Monthly Income More Less
Money Down More Lower
Loan Term Fewer months More months
Miles on Vehicle Lower miles Higher miles

It’s difficult to predict your rate of interest without more information. Take the opportunity to apply online, allowing you to find out what rates of interest local Ashland dealers and lenders can offer you.

Used Vehicle Financing in Ashland

A preowned car is a good idea for consumers intent on saving money. Lenders will charge you slightly higher rates of interest on used cars and trucks, but down payments are not but 50% of what they are for new vehicles of the same price. For anyone wary of maintenance, make sure you opt for a vehicle that has low miles and solid reliability. Below, you will find some data to help you determine whether you should buy a new or used vehicle. This is assuming a two year old vehicle that has lost one half of its value, and a buyer with a credit score of 690 to 720.

New Car Used Car
Price $13,780 $6,890
Down Payment $2,756 $689
APR 5.00% 7.50%
Length 60 months 48 months
Monthly Payment $208.04 $149.93
Interest $1,458 $996
Total Paid $15,238 $7,886

Ashland Car Loans for Bad Credit

Bad credit has a few drawbacks:

  • You will be forced to pay more in interest.
  • You have to put more money down.
  • You have to pay back the loan more quickly.

Too many shoppers end up getting financed through a buy here pay here dealership in Ashland, due to a bankruptcy or foreclosure, but this is rarely the best option.

Fortunately, we are experts in serving customers who have credit problems of all kinds, getting them approved for the loans they need.

Dealerships for Bad Credit in Ashland

Searching for a car that will fit your needs and budget is of utmost importance, particularly if your credit isn’t the best. You probably won’t qualify for many of the autos on the lot.

If you apply through us, you can line up your car loan beforehand, then set up a time for you to sign and drive. Avoid being lured into buying a vehicle that costs more than you anticipated. Bear in mind, you have a credit score to improve.

Buy Here Pay Here Auto Loans in Ashland, KY

Most people go to buy here pay here dealers, thinking they will only be able to get financed with no credit check. Not true. Yes, they rarely conduct credit checks, meaning bad credit probably won’t be a hindrance to approval, but chances are you’ll pay too much for this service. Alas, you will be faced with exorbitant interest rates, expensive down payments, and well-used vehicles that are too expensive given their level of wear and tear. There’s a good reason that these dealers have a dirty reputation. We want to place you in the hands of dealer finance specialist who will work with you, not matter your credit.

Purchasing a Vehicle in Ashland: Loan Amounts

As a rule, creditors review your credit and income to calculate the maximum amount they are going to let you borrow. To illustrate, have a look at these amounts based on an income of $1,378 per month, which is the average in Ashland.

Credit Multiplier Sum
Good Credit 10 $13,780
Average Credit 9 $12,402
Temporary Bad Credit 8 $11,024
Poor Credit 7 $9,646
Terrible Credit 6 $8,268

But don’t forget: there is the amount it’s possible for you to finance, and how much you really should. Have you wondered how much car you can afford? Have a look at the estimations below. The rates have been approximated, and the figures presuppose $16,541 in annual income, the average in Ashland. Loan length is 5 years.

Excellent Credit Decent Credit Subprime Credit
Monthly Income $1,378 $1,378 $1,378
Car Payment $110 $110 $110
APR 3.50% 7.00% 12.00%
Years 5 5 5
Vehicle Price $7,575 $6,959 $6,195
Down Payment $1,515 $1,392 $1,239
Loan $6,060 $5,567 $4,956
Interest Paid $555 $1,047 $1,659
Price with Interest $8,129 $8,006 $7,853

Ready to Get Started?

We have dealers and lenders who are ready to approve you for a loan. Apply online, and we’ll get you approved. It’s quick, simple, and secure.