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SpanishWhat is the Average Car Interest Rate?
If you’re thinking about buying a new or used car, it’s helpful to know what the average car insurance rates in Indianapolis and Speedway are before you begin. This can ensure that you get the best financing on your purchase, and help you to make a plan for your budget before you start your search. At Indy Car Financing, we’re committed to helping you get the information you need and when you’re ready, the low rates you deserve to make your purchase affordable— even if your credit isn’t perfect.
What Kind of Interest Rate Should You Shoot for in Your Loan Contract?
Interest rates can vary wildly between lenders and depends largely on your credit rating. Nationwide, new car loans for those with excellent credit can range from 3.26 percent to nearly 5 percent in some regions, while a used car loans average about 3 percent for the same buyers.
Of course, if your credit is less than perfect, your rates would be higher than these. There are some things you can do that can help increase your chances of reducing those high rates:
- Make a Budget – Making – and sticking to – a budget can help you keep expenses under control and make it easier to keep to a payment schedule.
- Pay On Time – Making payments on time for six months or longer can demonstrate to lenders that you are a good credit risk.
- Get Caught Up – Pay down any debt you have and make sure your monthly expenses are current.
- Save Up – Having a good down payment is essential to getting a good deal, and having money in your savings account makes lenders more likely to trust you with financing.
Let Indy Car Help Ensure You Get a Fair Rate
Unless your credit is perfect, getting a good rate on financing on your own can be next to impossible. Let Indy Car Financing guide you through the process and help get you the low rate you deserve regardless of your past credit history.
See if You Qualify for the Average Car Insurance Rates in Indianapolis and Speedway
Explore the possibilities and see if you qualify for the average car insurance rates, or better, on your Indianapolis or Speedway purchase. Contact Indy Car Financing at (855) 468-6215 or stop by Speedway Chevrolet at 5252 W 38th St in Indianapolis to get the financing you need.