How Are Car Loan Rates in Pulaski, WI Calculated?
Various factors affect your Wisconsin car loan rate, including your income, your credits core, the loan amount, the down payment, your loan's term (the length of the loan), and the car's age. A poor credit score, low income, or buying an older vehicle from a dealer in Pulaski could mean a higher interest rate. But why is a high interest rate bad? The higher your interest rate gets, the higher your monthly bill is and the more you spend over the term of your loan. Even a rate one or two percent higher could mean spending hundreds more overall.
How Do I Lower My Auto Loan Rate in Pulaski, WI?
With tools like our Interest Rate Estimator, you can get a feel for what your rate could be before having to apply for a car loan in Pulaski, WI. If you've plugged in your information and aren't liking the percentage you see, what can be done to lower it?
The loan term is one thing you can control. Most Pulaski auto loans have terms in 12-month intervals ranging from 24 months (2 years) to 84 months (7 years). Many borrowers take longer terms because the monthly payment is usually lower. However, a longer term also tends to come with a higher interest rate. If you can afford a bigger monthly payment, choosing a shorter term is a good move. The Auto Payment Calculator shows what your monthly payments might look like with different interest rates and terms to help you see what you might be able to afford.
If your credit is far from great, raising your score could lower your interest rate. Our Guide to Better Credit for Auto Financing walks you through what determines your credit score and which steps you can take to bring it up fast. Your credit score will take some effort and time to build, but it'll be worth it once you see those lower Wisconsin auto loan rates.
Waiting to find the right lender can also help you achieve a lower rate. While lenders will use the same information, you won't see the same interest rate from each one. It's important to shop around and compare offers to find the best car loan rate in Pulaski, WI — even if you don't have the highest income or best credit. You shouldn't go with the first offer you receive because there could be a better one right around the corner. Keep in mind some lenders will negotiate, so you can take your offer from one lender to another to see if they're willing to give an even lower rate.
Find the Best Auto Loan Rates in Pulaski, WI with myAutoloan
myAutoloan is committed to helping you find the lowest auto loan rates in Pulaski, WI no matter what type of car you're buying or your credit score. We'll present you with up to four loans at once so you can find the right deal. Complete our secure online application, choose the best loan for you, and visit your Pulaski dealer to purchase a new car. Apply now to see today's lowest interest rates!