Lexington, KY Auto Loan Rates

Before you purchase a new car in Lexington, be sure to check the current auto loan rates. Lexington Banking Rates can help you to find a lender that will offer the most competitive rates on your next auto loan.

It’s a good idea to shop around for the best car loan rates, instead of waiting until you get to the dealer. Many banks and lenders will give you lower rates and help connect you with a local Lexington dealer. Lexington Banking Rates hopes to help you secure lending for your new car, making it easy to negotiate the best deal.

Getting a Low Lexington, KY Auto Loan Rate

Typically, if you are buying a used car versus a new car in Lexington, Auto Loan Rates will be a little higher (up to 1% more). Auto Loan companies are looking at the value of the car, and your ability to make payments back to them in a timely manner. If you are purchasing a car in good condition or a new car, these companies can offer desirable and competitive loan rates because if a borrower does not make payments their payments, then the company can take back the car and try to sell it to get their money back.

The terms of your auto loan can also affect the interest rates. If you choose a 36-month repayment term, you are more likely to get lower interest rates. If you choose a longer term, not only can your interest rates be higher, but you will pay more interest on your auto loan in the long term.

Lexington Banking Rates will match you with a lender that wants to work with you, and understands your credit rating. By working with the right company, you can secure a low interest rate auto loan.

Auto Loan Approval Process in Lexington, KY

At Lexington Banking Rates, you can complete some basic information about your credit and financial situation in order to be matched with the lender, bank or auto loan company who is most interested in helping you get approved for an auto loan. Interest rates change all the time, and Lexington Banking Rates highly recommends you always do your research to find the latest auto loan rates. This site updates rates every day to keep our customers well informed, and to give them the information they need to be prepared to talk to our auto loan partners and secure the best rate.

Buying a New Car in Lexington

Purchasing a car is a difficult process. Look at these five tips to help you with the process of buying a new car.

1. New or Used? The difference between these two revolves mostly around price. If you do not want to pay a couple extra thousand dollars to buy a car new, buy a year old model. Make sure to check any used car over before buying. Test drives, vehicle  history, and a general overview will all help you determine whether a used car is right for you. However, if you just want that new car smell, then feel free to purchase straight from the dealership. New cars bring with them a sense of prestige, a warranty, and a relationship with the dealership that will allow you to get your car fixed there.
2. Company and Model. Toyota, Ford, General Motors, Dodge, and Volkswagen, along with many other companies, all manufacture cars. Each company has intrinsic differences. You might be used to the lights and windshield wiper placement of one model and be totally thrown by another company’s design. The model you want may come in several different options, each with dissimilar engines or body designs. Choose wisely. The model you choose could be one you will be stuck with for the next several years.
3. Fuel economy. In today’s world, fuel prices continue to rise. Until they invent the affordable electric car, it is a wise financial choice to invest in a fuel efficient car. Hybrids, like the Toyota Prius, Ford Fusion, VW Jetta, and Chevy Volt, usually get around 40 mpg and some go up to 50. If you feel comfortable with the idea, buy a stick shift. They get much better mileage than an automatic shifter, and you might find you enjoy driving one.
4. Size. A soccer mom is going to need a lot more space than a single young adult. Consider how much space you really need in your car. If you plan on going mountain biking and kayaking a lot, get a rooftop rack or a back seat area that can convert into storage. Make sure the vehicle will be comfortable for long trips. If you do not need a Hummer-sized vehicle, try to avoid buying one.
5. Cost. This is the factor which should influence your decision the most. While low interest auto loans can help you pay for the cost of a vehicle, you still will end up paying tens of thousands of dollars. Make sure to pick a model which is within your price range and which will retain most of its value over time in case you need to sell it back. While a flashy sports car might be your dream, a more affordable sedan might be your actual car now.

Once you answer all these questions, let Lexington Banking Rates help you find the best auto loans for you.

The Five Most Popular Cars of 2009

Choosing a car can be a difficult process. Choosing a model and price to fit your lifestyle can take quite a bit of searching. Finding the lowest interest auto loan can take even longer.

To assist you with your car buying decisions, Lexington Banking Rates has put together a list of the five cars of 2009 with the highest US sale rates.

1. Ford F-Series – With 413,625 sales for the year, this truck dominated 2009 sales. Sold for over fifty years, this Ford truck has been the best selling truck for 34 years. The 2010 Ford F-150 starts pricing at $21, 820 and comes with a fuel economy of 15 city/ 19 highway mpg.

2. Toyota Camry - Manufactured by Toyota for thirty years, the mid-size Camry car sold 356,824 models in 2009, with an additional 15,000 Canadian sales. Current models are attempting to produce a hybrid version of this popular car. The 2011 Camry’s pricing begins at $19,595 and has a fuel economy of 22 city/ 33 highway mpg.

3. Chevrolet Silverado – This Chevy truck have only been manufactured since 1999, but their sales for 2009 added up to 316,544 models. Known for its “Like a Rock” campaign, the Silverado offers a reliable, American truck. The 2010 1500 model begins pricing at $20,850 and gets a fuel economy of 21 city/ 22 highway mpg.

4. Toyota Corolla – This line of compact cars has become increasingly popular since the first model went out on the market in 1966. Although the company hit their 35 million sale point in 2007, their 2009 sales were at 296,874 cars.The 2010 Corolla begins pricing at $15,450 and comes with a fuel economy of 26 city/ 35 highway mpg.

5. Honda Accord – Another mid-size vehicle, the Honda Accord has seen international success. Manufactured since 1976, the Accord sold 290,056 cars in 2009. It is rated as one of the world’s most reliable vehicles. The 2010 Accord Sedan begins pricing at $21,055 and offers a fuel economy of 22 city/ 31 highway mpg.

Once you discover which car model is perfect for you, let Lexington Banking Rates help you find the lowest auto loan rates.