Obtaining an auto loan to buy a car is often more challenging—and full of potential pitfalls—than one might think. Dealers may have their own financing options, but you run the risk of upselling if the dealer attempts to sell you a more expensive car than you want, or to sell you other products you don’t need. Sometimes, dealer financing also comes with a mandatory minimum, or the rates may be higher than you’d prefer unless you have a stellar credit score.
JVB: Dedicated to car loans to suit your needs
We aren’t in the business of selling cars. We are in the business of providing financing for car loans for both new and pre-owned vehicles. What this means for you is that you can get the benefits of financing without the additional pressure that might come from a salesperson or higher interest rates. Compare our vehicle loan rates.
Basic vehicle loan information
Auto loans can be taken out for varying periods of time; some typical periods of time would be 3, 4, or 5 years. The actual rate of the auto loan can vary considerably depending on your credit score.
- Generally speaking, a credit score above 740 will allow you to access the best rates at your auto lender
- You may wish to take steps to improve your credit score (i.e., catching up on delinquent accounts, lowering credit utilization) if your score is below 700
As with other loans, longer-term loans will have higher interest rates, but not necessarily higher payments per month. In fact, monthly payments (even with higher interest rates) will usually be lower on long-term loans just because the interest payments are spread out over a much longer period of time. Check out our loan calculators!
- Borrowing $15,000 over 5 years at a rate of 3% will lead to an approximate monthly payment of $270
- Borrowing the same amount over 3 years at a rate of 1.75% will lead to an approximate monthly payment of $428
The benefits of working with JVB for a car loan
JVB is not in the business of selling you added services and items you don’t need. We just want you to drive away in the car of your dreams. We provide the following:
- Low fixed rates
- Quick decisions
- Fast funding
- Online loan application
JVB is also committed to working with the members of its community in Central and North Central Pennsylvania to help with auto purchases. To that end, there are some specific advantages to working with JVB on your next car loan:
- We’ll write auto loans for as little at $2000, meaning that you can feel free from pressure to purchase a car that’s outside of your budget.
- This also allows you to work with us when other lenders won’t lend you money for cars in this price range.
- There are a wide variety of ways to pay your loan (online, via mail, over the phone), allowing you to pay it in the most convenient way for you.
- It is also always easy to obtain the payoff balance both online or over the phone.
- JVB also originates all loans and does not sell auto loans to other lenders.
- Compare our vehicle loan rates here.