Kentucky Auto Loans

When you are looking to buy a new car in Kentucky, you might want to begin by using an auto loan calculator to determine how much you can afford to spend on a loan payment each month. You shouldn't spend more than 10% of your gross income on car expenses, which includes the cost of your car along with insurance, gas, and maintenance. Current auto loan rates in Kentucky for new cars are about 7% and about 8% for used car loans. To get the best auto loan rate in Kentucky, you'll want to compare several different lenders.

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Auto Lenders & Loan Types in Kentucky (KY)

Here is a sampling of some of the lenders you can expect to find in Kentucky:

• Chase
• Capital One Auto Finance
• CitiFinancial Auto
• National City
• Republic Bank
• Fifth Third Bank
• US Bank

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There are a wide variety of loans that are available to you, whether you have bad credit, good credit, or no credit, there is a loan that will fit your needs.

Some of the types of loans you may qualify for in Kansas include:

• New car loan
• Used car loan
• Refinance loan
• Lease buyout
• Credit challenged loan

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Financing Car Loans in Kentucky (KY)

If you have good credit (above 600) and are looking to buy a car in Kentucky, you'll have many options of possible loans. Consumers with good credit will also be eligible to pay lower annual percentage rates (APR). The best way to ensure you are getting the best deal on your loan is to research.

It has been estimated that as few as 7% of consumers will qualify for 0% APR loans. Although those of us who have experienced credit issues will probably end up paying a higher APR, the good news is that it is still possible to get a loan. More lenders are offering loans to consumers with less than perfect credit. The first step you'll want to take when looking for a loan is determining your credit score so you'll have an idea of what kind of APR you qualify for. Knowing your credit score when you apply for an auto loan will help you determine what type of loan will work best for you.

Kentucky State Auto Loan Information

If you have questions about Kentucky's auto lending regulations or would like more information on purchasing a new or used car, you can visit the Transportation Cabinet:

Kentucky Transportation Cabinet
200 Mero Street
Frankfort, KY 40622

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