Looking For Car Finance In Phoenix AZ During March 2020?
Getting the best deal on a car loan in Phoenix AZ can save you a significant amount of money over the life of your loan. That’s why you need a partner who knows how to get you approved for the vehicle that you want at the lowest car loan interest rate possible and with no hassle.
The AllCreditCarLoans network of finance partners provides quick and easy auto finance decisions for all credit situations. Our finance partners are making more loans, approving buyers with lower credit scores, offering lower monthly payments and making larger loans than ever before. There has never been a better time to get an auto loan than right now.
By working with AllCreditCarLoans, you can get preapproved for a car loan before going to the car dealership, so that you can negotiate as a cash buyer and get the best deal possible.
So, no matter what your credit situation, if you are looking for a quick, no-hassle auto loan at the best rate, just click the button below to get the process started. Our one-page application form is simple and easy to use. It only takes a few minutes.
We Can Get You Financed Despite Any Special Circumstances
You need a new car and we are here to help you get it!
Your chances of obtaining vehicle financing are very good. Via our network of dealer and lender partners, we have many options available to get you financed. Difficult circumstances are our specialty and we have seen nearly every situation possible.
We have helped…
Car buyers get their first car
Car buyers with a past repossession
Car buyers with a past bankruptcy
Car buyers who are paid in cash
Car buyers who are self-employed
Car buyers who receive social security benefits
Car buyers who are on disability
Car buyers who are retired
Car buyers with no money to put down
Car buyers with a trade-in vehicle
Apply today and let us start helping you get that new car that you need!
Watch Our Video On Getting A Car Loan In Phoenix AZ
AllCreditCarLoans Follows A Simple 1-2-3 Auto Loan Application Process
No need to wait for hours at a dealership or submit reams of paperwork. No need to worry about your gathering together your credit history. With our streamlined application process, everything is as easy as 1-2-3.
- 1 - COMPLETE OUR ONLINE APPLICATION - This process only takes a few minutes. Our simple application is safe and secure, so you don’t have to worry about your information. There is no cost. Applying for your auto loan is totally FREE.
- 2 - RECEIVE YOUR CREDIT APPROVAL - Getting your loan approval is fast and easy. AllCreditCarLoans has an extensive lending network, so the approval process is fast and efficient. You don’t have to wait for days, weeks or months. Many applicants receive loan approval on the same day.
- 3 - CHOOSE YOUR VEHICLE - With our easy as 1-2-3 process, you can buy your vehicle on the same day that your loan is approved. Just visit your nearby auto dealership and negotiate like a cash buyer.
Your Auto Financing Options
Your credit history and where you are buying your car from will determine the kind of auto loan you need.
Whether you are buying a new or used car from a dealer; you need a program designed to help you get a vehicle loan despite credit challenges; or you are looking to refinance your existing loan - we can help.
We provide a variety of car financing options to suit your needs and credit situation:
- Phoenix AZ New Car Loans
- Phoenix AZ Used Car Loans
- Phoenix AZ Auto Refinance Loans
- Phoenix AZ Good and Fair Credit Car Loans
- Phoenix AZ Bad, Poor and Horrible Credit Auto Loans
Our loan programs are tailored to your exact needs and budget and are designed to meet or exceed the features of national auto finance companies like Capital One Auto Finance, Carmax Used Cars, USAA Auto Loans, Chase Auto Loans, Wells Fargo Auto Loans, Bank of America Car Loans, Navy Federal Car Loans, AAA Auto Loans, Key Bank Auto Loans, PNC Car Loans, Bankrate Auto Loans, US Bank Auto Loans, TD Bank Car Loans and State Farm Auto Loans.
We've provided car loans for first-time buyers, car financing for college students and we are proud to have arranged military and veteran auto financing for service members and their spouses. We've even been able to help foreign nationals and others who do not qualify for a social security number to obtain an auto loan with their ITIN number.
We also specialize in sub-prime auto financing including financing a car after bankruptcy and helping borrowers to obtain a car loan after repossession.
If you are looking for a car title loan or the best place to refinance your car, we have programs that can help you as well.
AllCreditCarLoans works with the best buy here pay here car lots near you, bad credit auto dealers, second chance auto dealers and other car loan lenders to provide the best auto rates.
You are never alone in this process. Our reliable lender partners will guide you every step of the way -- from the time you begin processing your application, all the way to the day when you drive home your new car. Click the button below to let us get started helping you today!
Auto Finance Calculator For Phoenix AZ
Use the AllCreditCarLoans auto loan calculator to help determine how much you can afford to spend when financing or refinancing a car. You can run multiple scenarios varying the "number of months" and "down payment" values in order to get the monthly payments you are looking for.
We recommend that your total car expenses be no more than 20% of your after-tax pay.
What To Know Before You Apply For An Auto Loan
Car Loan Credit Score
Credit scores give lenders an idea of how you manage your finances. These scores are essential in helping you plan your finances well. Likewise, credit scores can be testaments of how well you make decisions, as well as how healthy your spending habits are. Credit scores can help determine whether you pay your bills on-time, if you use your credit cards wisely, and how well you manage your loans.
The higher your credit score, the lower the interest rate you will likely be asked to pay.
Therefore, if you have multiple loans that are unpaid; if your credit cards have been maxed out and several of your bills remain unpaid, you earn a low credit score. While it does not define the kind of person that you are, your score can indicate an unhealthy financial habit, which can make you appear "too risky" and turn away lenders.
A lot of lenders do not offer auto finance loans to applicants who have a low credit score because they do not want to encounter problems when collecting payments. Some lenders accept borrowers with low scores, but they often charge higher interest rates for the loans they make. This is because they want to lessen the risks that your low credit score represents.
But AllCreditCarLoans is different. We work with leading car finance lenders and auto dealers to help you find the best auto loan terms for your credit situation. Fill out our quick and easy one-page application to let us get you financed today.
Car Loan Interest Rates
The interest rate you’ll receive depends upon your credit history, your income, the length of the loan and the vehicle you choose.
Soft vs. Hard Credit Pull
Your auto lender may do a "soft" credit pull in order to pre-qualify you for a car loan. A "soft" credit pull doesn’t subtract from your credit score the same way a "hard" pull does, but it also doesn’t guarantee you’ll be approved for a loan or that you'll get the exact rate you’ve been quoted. A "hard" credit pull will be required before the loan terms are finalized.
If you are applying with multiple lenders in order to shop the best interest rates, it makes sense to complete all your loan applications within a short time-frame. The credit reporting agencies tend to count multiple hard inquiries made within a short period as only one inquiry.
It's a good idea to know your credit score before you apply for your loan. If you are unsure what your credit score is, you can always use this service to find your credit score.
If your credit score could use improvement, you can work with a credit repair vendor to improve your credit score.
Car Loan Terms
While it is possible to find a lender who will finance a vehicle for up to 84 months, we don't recommend stretching out payments any longer than you need. It’s best to pay off a car loan as quickly as you can since cars depreciate rapidly. The longer the loan term, the more probable that at some point you will end up owing more on the loan than the car is worth. Being underwater or upside-down on a loan is a risky financial situation. The best interest rates are available for shorter loan terms. We recommend keeping your loan term to 3 years for used cars and up to 5 years for new cars.
Auto Loan Restrictions
Some lenders only work within a specific network of auto dealerships. This could limit your choice of vehicles to a handful of auto makes, models and vehicle types.
Some lenders will only work with car dealers so you won't be able to use them to buy a car from a private seller.
Steps To Get An Auto Loan
Shopping for an auto has never been easier. Our streamlined process and vast network of lending partners make getting a car loan quick and easy.
1 - Budget For Your Auto Purchase
The first step in obtaining auto financing is to figure out how much you can afford to spend.
If you have a car to trade-in, you should determine its value so that you can factor that into your budget. A good resource for determining your auto's market value is Kelley Blue Book.
Next, you'll want to consider how much money you have to use for a down-payment. The more money you put down, the lower your monthly payment will be. If you need an auto loan with no down payment, don't worry. We can still help you.
Finally, use our vehicle finance calculator to estimate your monthly payment. You can vary the interest rate and loan term to see how that affects the potential monthly payment.
2 - Choose Whether You Want A New Or Used Vehicle
If you are looking to get the most value for your dollar, you will likely be better off financing a used car. For the best results, follow our used car recommendations.
If you've chosen to buy a new car, you will most likely be purchasing the vehicle from a car dealership. In order to get the best deal on new car financing, follow our new car recommendations.
3 - Apply For Your Loan
Click the button below and fill out our quick and easy application form to get started right away!
New Car Loans
New car loans are the most common type of auto financing. Beyond the traditional option of getting approved through a new car dealer, many consumers have found that they can save money and gain negotiating leverage by arranging their auto financing in advance.
Most new car dealerships are able to apply rebates and incentives to reduce the need for money down. If you have negative equity in a vehicle that you're trading in, you may have to provide money down to cover the negative equity so that it's not carried over into your new loan. While buying a new car with bad credit isn't so common, there are many manufacturers that offer lower-priced new cars with attractive financing incentives to make buying easier for people with lower credit scores.
Let us help you get preapproved for that new car loan and you will become a cash buyer. This saves you time at the dealership and gives you the power to negotiate your best deal on any car you choose. Apply for a new car loan in Phoenix AZ and see how much we can save you.
Used Car Loans
A used auto loan is our most commonly requested loan. By letting us help pre-arrange your funding source, you know that you'll have the power to negotiate the best deal. Apply for a used car loan and see what type of rate & term you can get from our participating lenders.
Buying a used car will typically provide the best value. That's because the prior owners have already absorbed the biggest portion of the vehicle's depreciation and you may have the option to buy directly from a private seller, thus saving dealer fees. We can help you with an auto loan to buy from a private seller.
If you choose to purchase a used vehicle, you can click here to view the inventory of used car dealerships near you in Phoenix AZ.
Shopping For The Best Auto Loan Rates In Phoenix AZ?
Whether you are looking for the best car loan interest rate for a new or used vehicle, or you want to refinance an auto loan, we can help.
With a lower interest rate, you'll save money and pay off your car loan faster. The single most important thing you can do to save money on an auto loan is to shop for the best auto loan rate before you set foot in a dealership. By knowing what kind of rate you qualify for before you try to buy a vehicle, you accomplish three things:
- You'll know what range of car payments you can qualify for
- You can focus your negotiations with the dealer on the vehicle price rather than on financing terms
- You won't end up getting a higher cost loan than you want
Use our car loan calculator to determine what range of payments you can expect. You can enter your balance, term, and interest rate to calculate what the payment will be. You can compare different scenarios to see how much more you can save by increasing your down payment.
Average Car Payment Interest Rates You Can Expect
|Credit Score Range||Average APR for a New Car||Average APR for a Used Car|
|781 - 850||3.68%||4.34%|
|661 - 780||4.56%||5.97%|
|601 - 660||7.52%||10.34%|
|501 - 600||11.89%||16.14%|
|300 - 500||14.41%||19.98%|
Why Getting Preapproved For An Auto Loan Is Important
Having a preapproved car loan streamlines the buying process because you become a cash buyer and you can bypass the usual salesman's tactic of negotiating based on monthly payment. The problem with negotiating based on the monthly payment amount is that you can easily lose sight of the total cost and end up paying more in the long run.
As you negotiate your best deal, be sure to leave enough money to cover the sales tax and any additional fees. This way your total "out the door" cost does not exceed the maximum amount of your preapproved auto loan.
While you are at one of the auto dealers near you, the finance manager may try to beat the interest rate of your preapproved loan. Before accepting the dealer's replacement loan, make sure that the interest rate is lower, all of the other terms are comparable, and the final total price is less. It's good to be cautious because there is always a risk that the finance manager could juggle the numbers in the dealership's favor and you could end up spending more money than you would with your preapproved car loan.
How Does Getting Preapproved For An Auto Loan Work?
Auto dealers usually offer car financing through their preferred lenders, typically at a higher interest rate than available elsewhere. Getting preapproved directly with one of our lending partners helps you to negotiate the best car loan rate before you even get to the dealership so that you can save money in the long run.
When you start your car buying process at a dealership, the salesmen will focus on the monthly payment, which makes it easier to forget about the actual price of the car. But when you show up with a preapproved auto loan, negotiations can be based on the price of the car instead.
How To Get Pre-Qualified For A Car Loan
When you’re applying with us, the application process is simple and quick. You should have the following information on-hand:
- Driver’s license and Social Security number
- Proof of income
- Employment verification
This information helps our lending partners to get a clear picture of your financial status, making it easier to secure the best auto loan rates for your credit situation.
About Phoenix AZ
Phoenix (/ˈfiːnɪks/) is the capital and most populous city in Arizona, with 1,660,272 people (as of 2018). It is also the fifth most populous city in the United States, and the only state capital with a population of more than one million residents.
Phoenix is in the southwestern United States, in the south-central portion of Arizona; about halfway between Tucson to the southeast and Flagstaff to the north. By car, the city is approximately 150 miles (240 kilometers) north of the US-Mexico border at Sonoyta and 180 mi (290 km) north of the border at Nogales. The metropolitan area is known as the “Valley of the Sun” due to its location in the Salt River Valley. It lies at a mean elevation of 1,086 feet (331 m), in the northern reaches of the Sonoran Desert.
Other than the mountains in and around the city, Phoenix’s topography is generally flat, which allows the city’s main streets to run on a precise grid with wide, open-spaced roadways. Scattered, low mountain ranges surround the valley: McDowell Mountains to the northeast, the White Tank Mountains to the west, the Superstition Mountains far to the east, and both South Mountain and the Sierra Estrella to the south/southwest. Camelback Mountain, North Mountain, Sunnyslope Mountain, and Piestewa Peak are within the heart of the valley. The city’s outskirts have large fields of irrigated cropland and Native American reservation lands. The Salt River runs westward through Phoenix, but the riverbed is often dry or contains little water due to large irrigation diversions. South Mountain separates the community of Ahwatukee from the rest of the city.
According to the United States Census Bureau, the city has an area of 517.9 square miles (1,341 km). 516.7 square miles (1,338 km) of it is land, and 1.2 square miles (0.6 km, or 0.2%) of it is water.
Maricopa County grew by 811% from 186,000 in 1940 to 1,509,000 in 1980, thanks in part to air conditioning, cheap housing and an influx of retirees. The once “modest urban sprawl” now “grew by ‘epic’ proportions— not only a myriad of residential tract developments on both farmland and desert.” Retail outlets and office complexes spread out and did not concentrate in the small downtown area. There was low population density and a lack of widespread and significant high-rise development. As a consequence Phoenix became a textbook case of urban sprawl for geographers. Even though it is the fifth most populated city, the large area gives it a low density rate of approximately 2,797 people per square mile. In comparison, Philadelphia, the sixth most populous city, has a density of over 11,000.
Like most of Arizona, Phoenix does not observe daylight saving time. In 1973, Governor Jack Williams argued to the U.S. Congress that due to air conditioning units not being used as often in the morning on standard time, energy use would increase in the evening should the state observe daylight saving time. He went on to say energy use would also rise early in the day “because there would be more lights on in the early morning.” Additionally, he said daylight saving time would cause children to go to school in the dark.
Phoenix is the sixth most populous city in the United States according to the 2010 United States Census, with a population of 1,445,632, making it the most populous state capital in the United States. Phoenix’s ranking as the sixth most populous city was a drop from the number five position it had held since the U. S. Census Bureau released population estimates on June 28, 2007. Those statistics used data from 2006, which showed Phoenix’s population at 1,512,986, which put it just ahead of Philadelphia. In 2016, Phoenix regained the position of 5th most populous city, with the census bureau estimating its population at 1,615,017, edging out Philadelphia with a population of 1,567,872.
After leading the U.S. in population growth for over a decade, the sub-prime mortgage crisis, followed by the recession, led to a slowing in the growth of Phoenix. There were approximately 77,000 people added to the population of the Phoenix metropolitan area in 2009, which was down significantly from its peak in 2006 of 162,000. Despite this slowing, Phoenix’s population grew by 9.4% since the 2000 census (a total of 124,000 people), while the entire Phoenix metropolitan area grew by 28.9% during the same period. This compares with an overall growth rate nationally during the same time frame of 9.7%. Not since 1940–50, when the city had a population of 107,000, had the city gained less than 124,000 in a decade. Phoenix’s recent growth rate of 9.4% from the 2010 census is the first time it has recorded a growth rate under 24% in a census decade. However, in 2016, Phoenix once again became the fastest growing city in the United States, adding approximately 88 people per day during the preceding year.
The Phoenix Metropolitan Statistical Area (MSA) (officially known as the Phoenix-Mesa-Glendale MSA), is one of 10 MSAs in Arizona, and was the 14th largest in the United States, with a population of 4,192,887 as of the 2010 Census. Consisting of parts of both Pinal and Maricopa counties, the MSA accounts for 65.5% of Arizona’s population. Phoenix only contributed 13% to the total growth rate of the MSA, down significantly from its 33% share during the prior decade. Phoenix is also part of the Arizona Sun Corridor megaregion (MR), which is the 10th most populous of the 11 MRs, and the 8th largest by area. It had the 2nd largest growth by percentage of the MRs (behind only the Gulf Coast MR) between 2000 and 2010.
The population is almost equally split between men and women, with men making up 50.2% of city’s citizens. The population density is 2,797.8 people per square mile, and the city’s median age is 32.2 years, with only 10.9 of the population being over 62. 98.5% of Phoenix’s population lives in households with an average household size of 2.77 people.
There were 514,806 total households, with 64.2% of those households consisting of families: 42.3% married couples, 7% with an unmarried male as head of household, and 14.9% with an unmarried female as head of household. 33.6% of those households have children below the age of 18. Of the 35.8% of non-family households, 27.1% have a householder living alone, almost evenly split between men and women, with women having 13.7% and men occupying 13.5%.
Phoenix has 590,149 housing units, with an occupancy rate of 87.2%. The largest segment of vacancies is in the rental market, where the vacancy rate is 14.9%, and 51% of all vacancies are in rentals. Vacant houses for sale only make up 17.7% of the vacancies, with the rest being split among vacation properties and other various reasons.
The city’s median household income was $47,866, and the median family income was $54,804. Males had a median income of $32,820 versus $27,466 for females. The city’s per capita income was $24,110. 21.8% of the population and 17.1% of families were below the poverty line. Of the total population, 31.4% of those under the age of 18 and 10.5% of those 65 and older were living below the poverty line.
According to the 2010 Census, the racial breakdown of Phoenix was as follows:
Phoenix’s population has historically been predominantly white. From 1890 to 1970, over 90% of the citizens were white. In recent years, this percentage has dropped, reaching 65% In 2010. However, a large part of this decrease can be attributed to new guidelines put out by the U.S. Census Bureau in 1980, when a question regarding Hispanic origin was added to the census questionnaire. This has led to an increasing tendency for some groups to no longer self-identify as white, and instead categorize themselves as “other races”.
20.6% of the population of the city was foreign born in 2010. Of the 1,342,803 residents over 5 years of age, 63.5% spoke only English, 30.6% spoke Spanish at home, 2.5% spoke another Indo-European language, 2.1% spoke Asian or Islander languages, with the remaining 1.4% speaking other languages. About 15.7% of non-English speakers reported speaking English less than “very well”. The largest national ancestries reported were Mexican (35.9%), German (15.3%), Irish (10.3%), English (9.4%), Black (6.5%), Italian (4.5%), French (2.7%), Polish (2.5%), American Indian (2.2%), and Scottish (2.0%).
Hispanics or Latinos of any race make up 40.8% of the population. Of these the largest groups are at 35.9% Mexican, 0.6% Puerto Rican, 0.5% Guatemalan, 0.3% Salvadoran, 0.3% Cuban.
According to a 2014 study by the Pew Research Center, 66% of the population of the city identified themselves as Christians, while 26% claimed no religious affiliation. The same study says other religions (including Judaism, Buddhism, Islam, and Hinduism) collectively make up about 7% of the population. In 2010, according to the Association of Religion Data Archives, which conducts religious census each ten years, 39% of those polled in Maricopa county considered themselves a member of a religious group. Of those who expressed a religious affiliation, the area’s religious composition was reported as 35% Catholic, 22% to Evangelical Protestant denominations, 16% Latter-Day Saints (LDS), 14% to nondenominational congregations, 7% to Mainline Protestant denominations, and 2% Hindu. The remaining 4% belong to other religions, such as Buddhism and Judaism.
While the number of religious adherents increased by 103,000 during the decade, the growth did not keep pace with the county’s overall population increase of almost three-quarters of million individuals during the same period. The largest aggregate increases were in the LDS (a 58% increase) and Evangelical Protestant churches (14% increase), while all other categories saw their numbers drop slightly or remain static. The Catholic Church had an 8% drop, while mainline Protestant groups saw a 28% decline.
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For more information, see Phoenix Arizona wiki