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Auto Loan Interest Rates
Rates as of July 1, 2010
New Auto Loans
|
Credit Score* |
Term |
Interest Rate |
| 700 & Above | 0 to 72 Months - 0% Down Payment | 6.50% |
| 700 & Above | 0 to 66 Months - 0% Down Payment | 6.50% |
| 700 & Above | 0 to 60 Months - 0% Down Payment | 6.00% |
| 650-699 | 0 to 60 Months - 10% Down Payment | 7.50% |
| 649 & Below | 0 to 48 Months - 15% Down Payment | 8.50% |
New Auto Loan Payment Examples
|
Credit Score* |
Term |
Amount Borrowed |
Monthly Payment |
Total Loan & Interest |
APR** |
| 700 & Above | 72 | $10,000 | $168.07 | $12,101.04 | 6.494% |
| 700 & Above | 66 | $10,000 | $180.58 | $11,918.28 | 6.493% |
| 700 & Above | 60 | $10,000 | $193.30 | $11,598.00 | 5.994% |
| 650-699 | 60 | $10,000 | $200.34 | $12,020.40 | 7.492% |
| 649 & Below | 48 | $10,000 | $246.43 | $11,828.64 | 8.489% |
Used 2010 & 2009 Auto Loans
|
Credit Score* |
Term |
Interest Rate |
| 700 & Above | 0 to 60 Months - 0% Down Payment | 7.00% |
| 650-699 | 0 to 60 Months - 10% Down Payment | 8.00% |
| 649 & Below | 0 to 48 Months - 15% Down Payment | 9.00% |
Used 2010 & 2009 Auto Loan Payment Examples
|
Credit Score* |
Term (months) |
Amount Borrowed |
Monthly Payment |
Total Loan & Interest |
APR** |
| 700 & Above | 60 | $10,000 | $197.97 | $11,878.20 | 6.991% |
| 650-699 | 60 | $10,000 | $202.72 | $12,163.20 | 7.991% |
| 649 & Below | 48 | $10,000 | $248.79 | $11,941.92 | 8.987% |
Used 2008 & 2007 Auto Loans
|
Credit Score* |
Term |
Interest Rate |
| 700 & Above | 0 to 48 Months - 0% Down Payment | 7.00% |
| 650-699 | 0 to 48 Months - 10% Down Payment | 8.50% |
| 649 & Below | 0 to 48 Months - 15% Down Payment | 10.00% |
Used 2008 & 2007 Auto Loan Payment Examples
|
Credit Score* |
Term |
Amount Borrowed |
Monthly Payment |
Total Loan & Interest |
APR** |
| 700 & Above | 48 | $10,000 | $239.42 | $11,492.16 | 6.991% |
| 650-699 | 48 | $10,000 | $246.43 | $11,828.64 | 8.489% |
| 649 & Below | 48 | $10,000 | $253.56 | $12,170.88 | 9.986% |
Used 2006 & 2005 Auto Loans
|
Credit Score* |
Term |
Interest Rate |
| 700 & Above | 0 to 42 Months - 0% Down Payment | 7.50% |
| 650-699 | 0 to 42 Months - 10% Down Payment | 9.50% |
| 649 & Below | 0 to 42 Months - 15% Down Payment | 11.00% |
Used 2006 & 2005 Auto Loan Payment Examples
|
Credit Score* |
Term |
Amount Borrowed |
Monthly Payment |
Total Loan & Interest |
APR** |
| 700 & Above | 42 | $10,000 | $271.39 | $11,398.38 | 7.487% |
| 650-699 | 42 | $10,000 | $280.73 | $11,790.66 | 9.485% |
| 649 & Below | 42 | $10,000 | $287.85 | $12,089.70 | 10.982% |
Used 2004 & Older Auto Loans
|
Credit Score* |
Term |
Interest Rate |
| 700 & Above | 0 to 36 Months - 0% Down Payment | 8.50% |
| 650-699 | 0 to 36 Months - 10% Down Payment | 11.00% |
| 649 & Below | 0 to 36 Months - 15% Down Payment | 12.00% |
Used 2004 & Older Auto Loan Payment Examples
|
Credit Score* |
Term |
Amount Borrowed |
Monthly Payment |
Total Loan & Interest |
APR** |
| 700 & Above | 36 | $10,000 | $315.60 | $11,361.60 | 8.484% |
| 650-699 | 36 | $10,000 | $327.29 | $11,782.44 | 10.979% |
| 649 & Below | 36 | $10,000 | $332.03 | $11,953.08 | 11.976% |
* Credit scores are based on information collected by credit bureaus and information reported each month by your creditors about the balances you owe and the timing of your payments. A credit score is a compilation of all this information converted into a number that helps a lender to determine the likelihood that you will repay the loan on schedule. The credit score is calculated by the credit bureau, not by the lender. Credit scores are calculated by comparing your credit history with millions of other consumers.
** Annual Percentage Rate
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Interest rates will be discounted 0.25% with Auto Pay from a Chemung Canal checking or savings account
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All loans subject to credit approval
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Interest rates and programs subject to change without notice
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