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Auto Loans in Akron (OH)

If you’d like a car loan in Akron, your approval is our number one priority. We help buyers in Akron and throughout Ohio, helping them line up their auto loans on the web. We assign you a financing expert who will work tirelessly to get you approved.

Car Loans Akron OH

Bad Credit Car Dealers in Akron, Ohio

Bad credit doesn’t have to stand in the way of your next car. We work with dealers in Akron that won’t turn you away, just because your credit isn’t ideal. For the most part, these types of dealers offer:

  • Interest rates that are manageable.
  • Down payments based on the vehicle’s value.
  • Vehicles that have less mileage.

The dealer will evaluate your credit and income to decide the specific models you qualify to finance. As a way to steer clear of late payments or repossession, look for an affordable, dependable vehicle with payments that amount to just 10% of your income–any higher, and you’ll be at a high risk of default. If you earn $1,682 monthly, this translates to a payment of $168.

Submit an application to see how much you can borrow.

Is it Advisable to Finance a New Vehicle?

We’ve discovered that a lot of consumers in Akron aren’t aware that you can finance a second-hand car or truck, not just a brand new one. Brand new vehicles have more affordable interest rates. However, they are priced considerably higher than their preowned brethren, and the down payments required are considerably larger.

New Car Used Car 1 Used Car 2 Used Car 3
Years Old 0 1 2 3
Price tag $16,820 $12,615 $10,092 $8,410
Down Payment $3,364 $1,262 $1,009 $841
APR 5.00% 6.90% 6.90% 6.90%
Length 60 months 48 months 48 months 48 months
Monthly Payment $253.93 $271.35 $217.08 $180.90
Finance Charge $1,780 $1,671 $1,337 $1,114
Total Outlay $18,600 $14,286 $11,429 $9,524

Akron Buy Here Pay Here Car Lots

Buy here pay here dealers would like you to assume that you can’t get approved anyplace but with them. However, this is rarely the way it is. These types of dealers grant financing on the lot, as opposed to conventional dealers which utilize third-party lenders, and they typically don’t perform credit checks.

Regrettably, you can expect excessive loan rates, huge down payments, and high mileage vehicles that are too expensive given their condition. There’s a good reason why these dealerships don’t have a great reputation. We want to place you in the hands of dealer finance specialist who can get you the loan you need, even if your credit is horrible.

Picking a New Car

The car you should go with, price-wise, will depend on your income and FICO score. Just 8% of your monthly earnings ought to be invested in your loan payment. As one example, residents of Akron have an average income of $1,682 per month, and 8% of this is $135.

Prime Credit Okay Credit Subprime Credit
Payment $135 $135 $135
Rate 3.50% 7.00% 11.00%
Down Payment $1,849 $1,699 $1,547
Amount Borrowed $7,397 $6,796 $6,189
Interest Paid $677 $1,278 $1,885
Total with Interest $9,923 $9,772 $9,621
Sticker Price $9,246 $8,494 $7,736

Used Cars for Sale in Akron

Zipcode Make Model Minimum Price Maximum Price Condition
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