Saint Louis Banking Rates

St. Louis Drivers Can Finance a New Car at Just 2.30% APR

St. Louis Auto Loans

Driving in St. Louis requires reliable transportation and is especially important as the weather changes into the cold, winter months. Getting the best interest rate on your auto loan can save you thousands over the life of your loan, and make car ownership an affordable possibility.

Auto loan interest rates in St. Louis have stayed historically low, although due to tightened lending practices, some have yet to take advantage of today’s competitive rates. Arsenal Credit Union provides low auto loan rates for St. Louis drivers, as well as valuable resources to find the best cars for their budgets.

Ways to Lower Costs With Arsenal Credit Union Auto Loans

To be prepared to buy a car, there are factors to consider before heading to the dealership. Determining your budget for the vehicle is a good place to start. Then you should decide how much you can afford to pay each month and the amount you can put up front.

Local credit unions are an excellent source of financing, and Arsenal auto loans offer rates as low as 2.30% APR for up to 72 months. Rates start as low as 3.90% APR for extended loan terms of 72 to 84 months, a great option if keeping your monthly loan payments low is a priority. Rates are adjusted for qualified buyers, varying depending on the individual loan terms, credit approval and down payment amount.

The best way to save money on your auto financing is to put down 10 to 20 percent of the car value upfront to lessen the amount borrowed overall. This will show good faith and help you get the best car loan interest rate available. Additionally, paying as much as you can each month will generally get you a lower rate. However, the credit union does offer 125% financing on new and used cars for those who need it.

CNBC reported that 33 percent of car buyers take out loans for 72 months or longer. While this keeps monthly payments low, opting for a 36-month term would result in huge savings for you. Arsenal provides free loan calculators to determine which parameters will work best for you, and will tailor a loan program to suit your situation whether you buy new or used.

Arsenal Makes Auto Loan Financing Simple in St. Louis

Getting auto loan financing at the dealership might be the only way to get manufacturer discounts, but not everyone will qualify for these dealer incentives anyway. To save a trip to the credit union, Arsenal partners with more than 300 dealers that belong to Credit Union Lending Systems, which allows for on-location financing without any added fees. Car buyers can also secure Arsenal financing from one of the seven St. Louis-area Enterprise Car Sales locations to get pre-owned vehicles that are available to browse online.

Car buying in St. Louis is more affordable thanks to premier auto loans with flexible terms and competitive options from Arsenal. The St. Louis credit union provides some of the lowest rates available to get you behind the wheel this fall and winter.

Arsenal Credit Union is a GOBankingRates client.

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