Looking For An Auto Loan In Alabama During January 2020?
Getting the best deal on car finance in Alabama 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 car that you want at the lowest auto loan interest rate possible and without hassle.
There has never been a better time to get an auto loan than right now. Our network of lender partners provides quick and easy loan decisions for all credit situations. Our lender partners are making more loans, approving buyers with lower credit scores, offering lower monthly payments and making larger loans than ever before.
By working with us, you can get preapproved for a car loan before going to the 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 application form is simple and easy to use.
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 Alabama
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:
- Alabama New Car Loans
- Alabama Used Car Loans
- Alabama Auto Refinance Loans
- Alabama Good and Fair Credit Car Loans
- Alabama 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!
Car Finance Calculator For Alabama
Use the AllCreditCarLoans monthly car payment calculator to help determine how much you can afford to spend when financing or refinancing a car. You can run multiple scenarios varying the "down payment" and "number of months" in order to get the monthly payments where you would like them to be.
We recommend that you target your total car expenses to be no more than 20% of your take-home 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 Auto Loans
New auto loans are the most common type of vehicle financing. Beyond the traditional option of getting approved through a dealer, many consumers have found that they can save money and gain negotiating leverage by arranging their car financing in advance.
Most new vehicle 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 autos 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 vehicle you choose. Apply for a new auto loan in Alabama and see how much we can save you.
Used Vehicle Loans
A used vehicle 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 auto loan and see what type of rate & term you can get from our participating lenders.
Buying a used auto will typically provide the best value. That's because the prior owners have already absorbed the biggest portion of the car'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 auto, you can click here to view used cars near you in Alabama.
Shopping For The Best Vehicle Loan Rates In Alabama?
Whether you are looking for the best interest rate for a new or used car, or you want to refinance a vehicle loan, we can help.
With a lower interest rate, you'll save money and pay off your auto loan faster. The single most important thing you can do to save money on a vehicle loan is to shop for the best interest rate before you set foot in a dealership. By knowing what kind of rate you qualify for before you try to buy a car, you accomplish three things:
- 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
- You'll know what range of car payments you can qualify for
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 Vehicle Payment Interest Rates You Can Expect
Credit Score Range
Average APR for a New Car
Average APR for a Used Car
781 - 850
661 - 780
601 - 660
501 - 600
300 - 500
Why Getting Preapproved For A Vehicle Loan Is Important
Having a preapproved 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.
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 the dealership, the finance manager may try to beat the interest rate of your preapproved loan. Before accepting the dealer's 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 A Car Loan Work?
Car dealers usually offer auto financing through their preferred lenders, typically at a higher loan rate than available elsewhere. Getting preapproved directly with one of our lending partners helps you to negotiate the best auto 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 An Auto 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.
Alabama (/ˌæləˈbæmə/) is a state in the southeastern region of the United States. It is bordered by Tennessee to the north, Georgia to the east, Florida and the Gulf of Mexico to the south, and Mississippi to the west. Alabama is the 30th largest by area and the 24th-most populous of the U.S. states. With a total of 1,500 miles (2,400 km) of inland waterways, Alabama has among the most of any state.
Alabama is the thirtieth-largest state in the United States with 52,419 square miles (135,760 km) of total area: 3.2% of the area is water, making Alabama 23rd in the amount of surface water, also giving it the second-largest inland waterway system in the United States. About three-fifths of the land area is a gentle plain with a general descent towards the Mississippi River and the Gulf of Mexico. The North Alabama region is mostly mountainous, with the Tennessee River cutting a large valley and creating numerous creeks, streams, rivers, mountains, and lakes.
Alabama is bordered by the states of Tennessee to the north, Georgia to the east, Florida to the south, and Mississippi to the west. Alabama has coastline at the Gulf of Mexico, in the extreme southern edge of the state. The state ranges in elevation from sea level at Mobile Bay to over 1,800 feet (550 m) in the Appalachian Mountains in the northeast.
The highest point is Mount Cheaha, at a height of 2,413 ft (735 m). Alabama’s land consists of 22 million acres (89,000 km) of forest or 67% of total land area. Suburban Baldwin County, along the Gulf Coast, is the largest county in the state in both land area and water area.
Areas in Alabama administered by the National Park Service include Horseshoe Bend National Military Park near Alexander City; Little River Canyon National Preserve near Fort Payne; Russell Cave National Monument in Bridgeport; Tuskegee Airmen National Historic Site in Tuskegee; and Tuskegee Institute National Historic Site near Tuskegee. Additionally, Alabama has four National Forests: Conecuh, Talladega, Tuskegee, and William B. Bankhead. Alabama also contains the Natchez Trace Parkway, the Selma To Montgomery National Historic Trail, and the Trail of Tears National Historic Trail.
Notable natural wonders include: the “Natural Bridge” rock, the longest natural bridge east of the Rockies, located just south of Haleyville; Cathedral Caverns in Marshall County, named for its cathedral-like appearance, features one of the largest cave entrances and stalagmites in the world; Ecor Rouge in Fairhope, the highest coastline point between Maine and Mexico; DeSoto Caverns in Childersburg, the first officially recorded cave in the United States; Noccalula Falls in Gadsden features a 90-foot waterfall; Dismals Canyon near Phil Campbell, home to two waterfalls, six natural bridges and allegedly served as a hideout for legendary outlaw Jesse James; Stephens Gap Cave in Jackson County boasts a 143-foot pit, two waterfalls and is one of the most photographed wild cave scenes in America; Little River Canyon near Fort Payne, one of the nation’s longest mountaintop rivers; Rickwood Caverns near Warrior features an underground pool, blind cave fish and 260 million year old limestone formations; and the Walls of Jericho canyon on the Alabama-Tennessee state line.
A 5-mile (8 km)-wide meteorite impact crater is located in Elmore County, just north of Montgomery. This is the Wetumpka crater, the site of “Alabama’s greatest natural disaster.” A 1,000-foot (300 m)-wide meteorite hit the area about 80 million years ago. The hills just east of downtown Wetumpka showcase the eroded remains of the impact crater that was blasted into the bedrock, with the area labeled the Wetumpka crater or astrobleme (“star-wound”) because of the concentric rings of fractures and zones of shattered rock that can be found beneath the surface. In 2002, Christian Koeberl with the Institute of Geochemistry University of Vienna published evidence and established the site as the 157th recognized impact crater on Earth.
The United States Census Bureau estimates that the population of Alabama was 4,887,871 on July 1, 2018, which represents an increase of 108,135 or 2.26%, since the 2010 Census. This includes a natural increase since the last census of 121,054 people (that is 502,457 births minus 381,403 deaths) and an increase due to net migration of 104,991 people into the state.
Immigration from outside the U.S. resulted in a net increase of 31,180 people, and migration within the country produced a net gain of 73,811 people. The state had 108,000 foreign-born (2.4% of the state population), of which an estimated 22.2% were undocumented (24,000).
The center of population of Alabama is located in Chilton County, outside the town of Jemison.
According to the 2010 Census, Alabama had a population of 4,779,736. The racial composition of the state was 68.5% White (67.0% Non-Hispanic White and 1.5% Hispanic White), 26.2% Black or African American, 3.9% Hispanic or Latino of any race, 1.1% Asian, 0.6% American Indian and Alaska Native, 0.1% Native Hawaiian and Other Pacific Islander, 2.0% from Some Other Race, and 1.5% from Two or More Races. In 2011, 46.6% of Alabama’s population younger than age 1 were minorities.
The largest reported ancestry groups in Alabama are: African (26.2%), English (23.6%), Irish (7.7%), German (5.7%), and Scots-Irish (2.0%). Those citing “American” ancestry in Alabama are generally of English or British ancestry; many Anglo-Americans identify as having American ancestry because their roots have been in North America for so long, in some cases since the 1600s. Demographers estimate that a minimum of 20–23% of people in Alabama are of predominantly English ancestry and that the figure is likely higher. In the 1980 census, 41% of the people in Alabama identified as being of English ancestry, making them the largest ethnic group at the time.
Based on historic migration and settlement patterns in the southern colonies and states, demographers estimated there are more people in Alabama of Scots-Irish origins than self-reported. Many people in Alabama claim Irish ancestry because of the term Scots-Irish but, based on historic immigration and settlement, their ancestors were more likely Protestant Scots-Irish coming from northern Ireland, where they had been for a few generations as part of the English colonization. The Scots-Irish were the largest non-English immigrant group from the British Isles before the American Revolution, and many settled in the South, later moving into the Deep South as it was developed.
In 1984, under the Davis–Strong Act, the state legislature established the Alabama Indian Affairs Commission. Native American groups within the state had increasingly been demanding recognition as ethnic groups and seeking an end to discrimination. Given the long history of slavery and associated racial segregation, the Native American peoples, who have sometimes been of mixed race, have insisted on having their cultural identification respected. In the past, their self-identification was often overlooked as the state tried to impose a binary breakdown of society into white and black.
The state has officially recognized nine American Indian tribes in the state, descended mostly from the Five Civilized Tribes of the American Southeast. These are:
The state government has promoted recognition of Native American contributions to the state, including the designation in 2000 for Columbus Day to be jointly celebrated as American Indian Heritage Day.
95.1% of all Alabama residents five years old or older spoke only English at home in 2010, a minor decrease from 96.1% in 2000. Alabama English is predominantly Southern, and is related to South Midland speech which was taken across the border from Tennessee. In the major Southern speech region, there is the decreasing loss of the final /r/, for example the /boyd/ pronunciation of ‘bird’. In the northern third of the state, there is a South Midland ‘arm’ and ‘barb’ rhyming with ‘form’ and ‘orb’. Unique words in Alabama English include: redworm (earthworm), peckerwood (woodpecker), snake doctor and snake feeder (dragonfly), tow sack (burlap bag), plum peach (clingstone), French harp (harmonica), and dog irons (andirons).
In the 2008 American Religious Identification Survey, 86% of Alabama respondents reported their religion as Christian, including 6% Catholic, with 11% as having no religion. The composition of other traditions is 0.5% Mormon, 0.5% Jewish, 0.5% Muslim, 0.5% Buddhist, and 0.5% Hindu.
Alabama is located in the middle of the Bible Belt, a region of numerous Protestant Christians. Alabama has been identified as one of the most religious states in the United States, with about 58% of the population attending church regularly. A majority of people in the state identify as Evangelical Protestant. As of 2010, the three largest denominational groups in Alabama are the Southern Baptist Convention, The United Methodist Church, and non-denominational Evangelical Protestant.
In Alabama, the Southern Baptist Convention has the highest number of adherents with 1,380,121; this is followed by the United Methodist Church with 327,734 adherents, non-denominational Evangelical Protestant with 220,938 adherents, and the Catholic Church with 150,647 adherents. Many Baptist and Methodist congregations became established in the Great Awakening of the early 19th century, when preachers proselytized across the South. The Assemblies of God had almost 60,000 members, the Churches of Christ had nearly 120,000 members. The Presbyterian churches, strongly associated with Scots-Irish immigrants of the 18th century and their descendants, had a combined membership around 75,000 (PCA – 28,009 members in 108 congregations, PC(USA) – 26,247 members in 147 congregations, the Cumberland Presbyterian Church – 6,000 members in 59 congregations, the Cumberland Presbyterian Church in America – 5,000 members and 50 congregations plus the EPC and Associate Reformed Presbyterians with 230 members and 9 congregations).
In a 2007 survey, nearly 70% of respondents could name all four of the Christian Gospels. Of those who indicated a religious preference, 59% said they possessed a “full understanding” of their faith and needed no further learning. In a 2007 poll, 92% of Alabamians reported having at least some confidence in churches in the state.
Although in much smaller numbers, many other religious faiths are represented in the state as well, including Judaism, Islam, Hinduism, Buddhism, Sikhism, the Bahá’í Faith, and Unitarian Universalism.
Jews have been present in what is now Alabama since 1763, during the colonial era of Mobile, when Sephardic Jews immigrated from London. The oldest Jewish congregation in the state is Congregation Sha’arai Shomayim in Mobile. It was formally recognized by the state legislature on January 25, 1844. Later immigrants in the nineteenth and twentieth centuries tended to be Ashkenazi Jews from eastern Europe. Jewish denominations in the state include two Orthodox, four Conservative, ten Reform, and one Humanistic synagogue.
Muslims have been increasing in Alabama, with 31 mosques built by 2011, many by African-American converts.
Several Hindu temples and cultural centers in the state have been founded by Indian immigrants and their descendants, the best-known being the Shri Swaminarayan Mandir in Birmingham, the Hindu Temple and Cultural Center of Birmingham in Pelham, the Hindu Cultural Center of North Alabama in Capshaw, and the Hindu Mandir and Cultural Center in Tuscaloosa.
There are six Dharma centers and organizations for Theravada Buddhists. Most monastic Buddhist temples are concentrated in southern Mobile County, near Bayou La Batre. This area has attracted an influx of refugees from Cambodia, Laos, and Vietnam during the 1970s and thereafter. The four temples within a ten-mile radius of Bayou La Batre, include Chua Chanh Giac, Wat Buddharaksa, and Wat Lao Phoutthavihan.
The first community of adherents of the Bahá’í Faith in Alabama was founded in 1896 by Paul K. Dealy, who moved from Chicago to Fairhope. Bahá’í centers in Alabama exist in Birmingham, Huntsville, and Florence.
A Centers for Disease Control and Prevention study in 2008 showed that obesity in Alabama was a problem, with most counties having over 29% of adults obese, except for ten which had a rate between 26% and 29%. Residents of the state, along with those in five other states, were least likely in the nation to be physically active during leisure time. Alabama, and the southeastern U.S. in general, has one of the highest incidences of adult onset diabetes in the country, exceeding 10% of adults.
On May 14, 2019, Alabama passed the Human Life Protection Act, banning abortion at any stage of pregnancy unless there is a “serious health risk”, with no exceptions for rape and incest. Doctors who perform abortions may receive 10 to 99 years imprisonment. This law is the most restrictive abortion law in the country.
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For more information, see Alabama wiki