Can I Finance a Used Car in Green Bay WI?
Do you have your eye on a particular year, make, and model for your next used car? Are you looking for an affordable way to get behind the wheel of a car, truck, or SUV? You may want to consider financing your next used car and find a vehicle with monthly payments that fit your budget at Bergstrom of Green Bay. We know that many used car shoppers ask – can I finance a used car in Green Bay, WI – and we have the answer right here.
Where Can I Get a Used Car Loan?
Yes – you can finance a used car. Does financing a used car, truck, or SUV sound like the right financial fit for you and your family? You may not know where to start or where to go to find your financing options and we can help at Bergstrom of Green Bay. Here is a quick look at where you can finance a used car.
- Banks and Credit Unions – Traditional lenders will provide finance options for used cars with competitive finance rates and are the most common source for used car shoppers. Credit unions are a great option and tend to offer lower finance rates than many banks – but you must be a member of the credit union and hold an account there to qualify.
- Online Lenders – In a digital age, many used car shoppers are turning to online lenders, which function a lot like banks and credit unions. Potential buyers can get pre-qualified online with lenders that deal specifically with auto loans and receive the funds quickly. Online auto loans may have higher interest rates than the other options on our list.
- Dealerships – Did you know that Bergstrom of Green Bay can provide financing right here at the dealership? Dealerships can provide used car financing via three standard methods. No matter what your financial situation may be, Bergstrom of Green Bay will help you finance an affordable used car.
- Dealer-arranged financing is where the dealership takes your loan application and finds local lenders with the best interest rates.
- Manufacturer financing may be available for certified pre-owned vehicles at your dealership with competitive rates
- Buy-here, pay-here financing is a great option for car shoppers with lower credit scores and everything from financing to payments are handled at the dealership.
What Are Used Car Interest Rates?
Does financing a used car, truck, or SUV sound like a good plan to you? You may want to know what to expect when you approach your lender for a loan – and that means it is important to know the average used car interest rates. The average interest rate for a new car loan is 7.18% and the average interest rate for a used car loan is 11.93%. The interest rate on your loan will vary based on your credit score.
| Credit Score | Used Car Interest Rates |
|---|---|
| 781 – 850 | 7.66% |
| 661 – 780 | 9.73% |
| 601 – 660 | 14.12% |
| 501 – 600 | 12.28% |
| 300 – 500 | 21.55% |
READ MORE: Should I Buy a Certified Pre-Owned Car?
Do you have questions about used car finance options? You may be asking – can I finance a used car in Green Bay, WI? We hope that this quick overview created by Bergstrom of Green Bay can help answer your questions. Apply for financing today at Bergstrom of Green Bay and get behind the wheel of a high-quality used car, truck, or SUV in Northeast Wisconsin!
