Auto Loans
for Good Credit


Not all auto loans are created equal and many lenders have a niche.  This auto lenders review will help find the best auto loan rates for you...


Good Credit Auto Loans

There is no shortage of auto lenders out for your business, but many claim to be the best, but in reality they can't hang with the rest. 

There are many places to start you're shopping for the lowest loan rates and you could look to a local bank, credit union, the car dealership or find plenty of sources online.

The real questions are, how much time do you want to invest and will the savings be that great? 

Answer 1. Probably not that much. 

Answer 2. They can be huge!

What I've tried to do is make your search for the best auto loan rates and terms as easy as possible by creating the auto lenders review (just below) of some of the nations top auto lenders and my favorite online choice.

Spoiler Alert - To Save you some time I've decided to share my "Editors Top Choice" here at the beginning as opposed to you having to read the whole page.

I highly recommend MyAutoLoan.com for your next auto loan.  They offer loans for new and used vehicles, refinancing, private party purchases, lease buyouts and you can get up to four loan offers in minutes.

The best part is they currently have rates advertised as low as 1.55% APR.   How cool is that?  Keep all the rebates and still get the LOW, Low, low rate.  

I doubt you'll find rates any lower than that, so save yourself some time and - Apply for Your Loan Now


Buyer Beware!  Car dealerships make big finance profits when they arrange auto loans for customers, so it is definitely worth a short amount of time to look over my auto lenders review before you sign any 4, 5, or 6 year "legally binding" contracts at the dealership.

Where would you like to begin?

Car Payment Calculators







Let's get to it and find out what
auto lenders offer the best auto loans for you!

Quick Links (below)
Bank of America | Capital One | GMAC Auto Finance | Hughes Credit Union | JP Morgan Chase | M and I Bank | Mountain America Credit Union | US Bank




Nations Top
Auto Lenders Review

Here are some of the nations top auto lenders, some of their auto loan guidelines and their credit criteria. Knowing this can save you from unnecessary credit inquiries and from wasting your time if they don't offer a program that fits your needs.

Follow any one of the lenders links to learn more about their programs. If you feel that you may not qualify for these lenders programs please take a look at my Bad Credit Loans page.

Before you begin, please read my quick disclaimer.


Bank of America

General

  • For A+, A, B and upper level C tier credit.
  • Minimum credit score of 620 required for auto loans.
  • Minimum 5 year credit file and 3 satisfactory trades.
  • Excellent rates for new and/or near new vehicles.
  • Decent rates for older used vehicles.

Loan

  • Up to 75 month financing.
  • Maximum advance of 110% of wholesale/invoice, plus TT&L and back end products.

Vehicle

  • Vehicles must be 5 years old or newer.
  • Maximum of 100,000 miles.



Capital One

General

  • For A+, A, B, C and upper level D tier credit.
  • Minimum credit score of 520 required for auto loans.
  • Minimum 7 year credit file and 3 satisfactory trades.
  • Very competitive rates for new and/or near new vehicles.
  • Decent rates for older used vehicles.

Loan

  • Up to 72 month financing.
  • Maximum advance of 115% of wholesale/invoice, including TT&L, plus back end products.
  • Maximum advance is restricted for certain trucks and SUV's.
  • Prime rates are only available for direct lending.
  • No longer offer private party, motorcycle or lease buyout loans.

Vehicle

  • Vehicles must be 7 years old or newer.
  • Maximum of 70,000 miles for direct lending.
  • Maximum of 80,000 miles for indirect lending.



GMAC Auto Finance

General

  • For A+, A, B, C tier credit. Minimum credit score of 520 required for auto loans.
  • Offers business loans without guarantor.
  • Competitive rates for new vehicles.
  • Best for special offer APR's (0%, 1.9%, etc.)
  • Not very competitive rates for older used vehicles.

Loan

  • Up to 72 month financing.
  • Maximum advance of 135% of wholesale/invoice, including TT&L and back end products.

Vehicle

  • No age or mileage restrictions stated, but shorter finance term and limited advance may apply.



Hughes Credit Union

General

  • For A+, A, B and select C tier credit.
  • Minimum credit score of 580 required for a loan.
  • First time buyer program available.
  • Decent rates for new and/or near new vehicles.
  • Very competitive rates for older used vehicles.

Loan

  • Up to an 84 month loan.
  • Maximum advance of 100% of retail/MSRP, plus TT&L and back end products.

Vehicle

  • No age restrictions stated.
  • No maximum mileage stated.



JP Morgan Chase Bank

General

  • For A+, A, B, C and upper level D tier credit.
  • Minimum credit score of 540 required for auto loans.
  • Minimum 3 satisfactory trades.
  • Offers business loans Loan Competitive rates for new and/or near new vehicles.
  • Good rates for older used vehicles.
  • Up to an 84 month loan.

Loan

  • Maximum advance of 90-130% of wholesale/invoice, including TT&L and back end products.
  • Maximum advance is restricted for certain trucks, SUV's and Vans.

Vehicle

  • Vehicles must be 6 years old or newer.
  • Maximum of 90,000 miles.



M and I Bank

General

  • For A+, A, B tier credit.
  • Minimum credit score of 690 required for auto loans.
  • Minimum 5 year credit file.
  • Loan program not available in all states.
  • Offers business loans
  • Excellent rates for new and/or near new vehicles.
  • Excellent rates for older used vehicles.
  • Up to 75 month financing.

Loan

  • Maximum advance of 105% of retail/MSRP, plus TT&L and back end products.
  • Luxury discount of .10% for amount financed >$35,000.
  • Equity discount up to .80%.
  • 48 month, or less, short term discount of .25%.

Vehicle

  • No vehicle age restrictions.
  • Maximum of 95,000 miles.



Mountain America Credit Union

General

  • For A+, A, B and upper level C tier credit.
  • Minimum credit score of 625 required for auto loans.
  • AZ, NM, NV, UT only.
  • A tier rates offered at 675 score and up.
  • Competitive rates for new and/or near new vehicles.
  • Good rates for older used vehicles.
  • Up to 72 month financing.

Loan

  • Maximum advance of 100% (used vehicles) of retail/MSRP, plus TT&L and back end products.
  • Maximum advance of 110% (new vehicles) of invoice, plus TT&L and back end products.

Vehicle

  • Vehicle must be 8 years old or newer.
  • Maximum of 100,000 miles



US Bank

General

  • For A+, A, B tier credit.
  • Minimum credit score of 650 required for auto loans.
  • A tier rates offered at 700 score and up.
  • 90 days to first payment available (top tiers only).
  • Offers business loans
  • Competitive rates for new and/or near new vehicles.
  • Very competitive rates for older used vehicles.
  • Up to an 84 month loan.

Loan

  • Maximum advance of 105% (used vehicles) of retail/MSRP, including TT&L, plus back end products.
  • Maximum advance of 95% (for full size trucks and SUV's) of retail/MSRP, including TT&L, plus back end products.
  • Luxury discount of .10% for amounts financed >$30,000.

Vehicle

  • Vehicle must be 6 years old or newer.
  • Maximum of 80,000 miles.



Quick Credit Tier Breakdown

There are six main credit tiers that most full spectrum lenders will use to determine the loan they are willing to approve for customers and what rates they will charge.

Your FICO score / Beacon score is what most lenders use to determine the finance rate. Even though your credit score is used to determine your finance rate, it does not guarantee that your loan will be approved.

Here is a quick breakdown of credit tiers defined by credit score. For a more complete analysis of credit tiers view my complete FICO Score and Credit Tier Breakdown.

  • A+ Tier typically - 740 to 877 FICO score
  • A Tier typically - 700 to 739 FICO score
  • B Tier typically - 660 to 699 FICO score
  • C Tier typically - 581 to 659 FICO score
  • D Tier typically - 520 to 580 FICO score
  • F Tier typically - 300 to 520 FICO score


What's your Credit Score?
Find out FREE with enrollment at CreditReport.com!!



Leverage Your Pre-Approved
Auto Loan For Negotiating Power

I've done research on past deals at the dealership I work for and have found that cash buyers save over $2000 per deal on average.  It's more when you factor in the finance savings.

Buy like a cash buyer, focus on the sales price (not payments) and save big! Now's a good time to complete a quick, no obligation "Loan Application"

Negotiating price and not payments makes the negotiation much simpler for customers and focusing on one number takes away a lot of the dealers tactics...

Getting pre-approved for auto loans is one of the key tips I share in my New and Used Car Buying Guide and it's worked to save thousands of visitors thousands of dollars.


Return from Auto Loans to Insider Car Buying Tips home

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