Indiana Auto Loans

The average auto loan rate in Indiana is about 6.8% for a new car loan and 7.7% for a used car loan. Those percentage rates can go as high as 11% or as low as 6.1% depending on your lender, the type of loan you get, and your credit score.

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Before you begin looking for a new car, you should calculate the amount you can afford to spend on your loan. You can determine this amount by using a loan calculator. Most experts agree you shouldn't spend more than 10% of your gross income on car expenses, which includes the cost of purchasing your car along with insurance, gas, and upkeep.

Auto Lenders & Loan Types in Indiana (IN)

There is a variety of lenders in Indiana who want to help you get on the road. Here are just a few of them:

First National B&T
Sand Ridge Bank
First Indiana
Chase
Capital One Auto Finance
CitiFinancial Auto
Huntington Bank
National City
Key Bank

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There are several types of loans available to you in Indiana, including:

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Financing Car Loans in Indiana (IN)

Some factors that will affect your auto loan rate in Indiana include your credit score, the price and type of vehicle you are purchasing, and the amount of your down payment. The first thing you should do when looking for an auto loan in Indiana is find out your credit score and determine how much you can spend on a new car.

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If your credit is less than perfect, you may want to consider a credit challenged loan. More institutions are offering lines of credit to consumers who have had some credit trouble in the past. You may have to pay a higher APR if you choose this type of loan.

Indiana State Auto Loan Information

For more information about the Indiana auto loan regulations and owning a vehicle in Indiana, contact the Bureau of Motor Vehicles or the Department of Finance:

Indiana Bureau of Motor Vehicles
100 N. Senate Ave.
Indianapolis, IN 46204

Indiana Department of Finance
100 N. Senate Ave, N-1058(B)
Indianapolis, Indiana 46204

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Current Rates

APR

36 month new car: 60 month new car: 72 month new car: 36 month used car: 60 month used car: 72 month used car: Refinance car loan: Lease buyout:	6.15% 6.27% 6.71% 6.62% 6.77% 7.38% 7.22% 8.38%
Updated: 06/14/2007
Source: Uehara Index

* Auto Loan Center is not an auto loan lender or broker, but provides information about auto loan products and lenders. Not all products and services are available in all states.