Are you applying for financing for yourself, or jointly with a co-borrower?
Apply online with Indy Auto Man car dealership to get preapproved for a car loan using our convenient online form. A lender's pre-approval indicates they've assessed your financial situation, credit score, and additional information to give you an understanding of the loan terms and interest rate you are likely to qualify for.
Remember that auto loan preapproval does not oblige you to take credit, but it can temporarily lower your credit score.
What is the average interest rate on car financing?
As of January 2025, financing used cars was typically more costly than new ones. The average interest rate for a 60-month loan was 9.01 percent for used vehicles, compared to 7.47 percent for new ones. Your credit score greatly influences your interest rate; however, the credit amount and terms, particular lender’s policy, and macroeconomic situation also influence it. Focus on enhancing your credit score to obtain a favorable interest rate on your auto loan.
Who has the best car loan rates?
With dynamic pricing in the financial sphere, there is no one particular credit organization that always guarantees the best auto loan rates. Therefore, Indy Auto Man partners with 25+ local credit unions and financial organizations to provide you with up-to-date information about interest rates in Indiana in one place. We also work with Capital One Auto Finance, which is considered one of the leading banks for car loans.
For seven to ten years after you file for bankruptcy, it can be reflected on your credit report. Fortunately, some lenders are willing to work with individuals with bankruptcy, although the interest rates may be higher. If you have bankruptcy on your records, concentrate on your credit development and save up for a down payment to improve your odds of securing a car loan.
Even with bad credit, your chances are high to get an auto loan with the assistance of Indy Auto Man Indianapolis dealership. We offer multiple financing options for bad, low, or no credit scores in partnership with 25+ financing organizations and banks in Indiana. Start your journey with our online form for car loan pre-approval - apply right now!
Our extensive network of 24 banks and credit unions is dedicated to securing the best rate for you. Even if you have no credit, we have the resources and solutions to assist you in finding a suitable loan.
Complete our secure online application in just a few minutes, and we will promptly provide you with your offer.
Our team of finance experts is well-prepared to assist first-time buyers. Regardless of your prior car payment history, we are dedicated to finding the optimal loan for you, allowing you to embark on your new adventure with confidence.
Obtaining pre-approval ensures a guaranteed car loan, providing you with a specific loan amount, term, and rate. On the other hand, pre-qualification does not guarantee any specific outcomes or commitments.