Compare Car Loan Rates in Enid, OK

With myAutoloan, you can compare up to four lenders in minutes! It's easy to find and compare the best auto loan rates in Enid, OK, whether you're buying a used or new vehicle or refinancing an existing loan. Apply now to see today's lowest rates!

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Today's Interest Rates

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Your Estimated Rate

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Your Payment

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More Information

What Determines Your Auto Loan Rate in Enid, OK?

A handful of factors impact your Oklahoma car loan rate, including your credit score, the amount of the loan, your income, the age of the car, the down payment, and your loan's term (the length of the loan). A low credit score, high debt-to-income ratio, or purchasing an older vehicle from your Enid dealer could mean a higher interest rate. But what's so bad about a high interest rate? The higher your interest rate gets, the more you pay each month and the more you spend over your loan’s term. A difference of just one or two percent could mean spending hundreds more on interest.

Is There a Way to Lower My Enid Car Loan Rate?

Online tools like our Interest Rate Estimator will give you an idea of what your rate might look like before having to apply for a car loan in Enid, OK. If you've filled out your information and aren't liking the percentage you see, what can be done to lower it?

The loan term is one aspect you can change on your own. Most Enid auto loans have terms ranging from 24 months (2 years) to 84 months (7 years) in 12-month intervals. Many borrowers are drawn in by longer terms because they usually have a lower monthly payment. But longer terms are also likely to come with higher interest rates. If your budget allows for a higher monthly payment, choosing a shorter term is a good move. The Auto Payment Calculator shows what your monthly payment might be depending on different interest rates and terms to help you determine what might be affordable.

If your credit is less than stellar, raising your score could decrease your interest rate. Our Guide to Better Credit for Auto Financing will help you understand what goes into a credit score and the steps you can take now to raise it quickly. It may take some time and work to better your credit score, but it's all worth it for getting those lower auto loan rates in Oklahoma.

Taking the time to hunt down the right lender can also help you snag a lower rate. While lenders will consider the same information, you'll likely receive a different interest rate from each one. You need to shop around and compare offers to find the best auto loan rate in Enid, OK — even if you don't have the best credit or income. You don't want to go with the first offer you receive because there might be a better one just around the corner. Don't forget some lenders leave room for negotiation, so you can take an offer from one lender to the next to see if they'll beat the interest rate.

See the Best Auto Loan Rates in Enid, OK with myAutoloan

myAutoloan is dedicated to helping you find the lowest car loan rates in Enid, OK regardless of your credit score and the type of car you're buying. We'll show you up to four loans at once so you can find the best deal. Simply complete our secure online application, pick the loan that works best for you, and visit your Enid dealer to purchase a new car. Apply now to see today's lowest interest rates!

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