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Used Auto Loan Rates

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When shopping for used auto financing, not all borrowers qualify for the same used car loan rates. That’s because the biggest influence on a used car loan interest rates is the borrower’s credit rating.

Who qualifies for low used auto loan rates?

In general the better the credit score, the lower the used car loan rate. The age of the vehicle and the loan term also help determine the used car loan rate. For example, new cars usually have lower auto loan rates than used cars and shorter loan terms generally carry lower rates than longer terms.

Used car loan rate tip: The longer your loan term, the more interest you’re paying. This means you’ll owe more than the car is worth for a longer time (or you’ll be upside-down on your used auto financing ).

Take advantage of used car loan rates from Wells Fargo

  • Competitive used car loan rates
  • Auto loan terms from 12–72 months

Your used auto loan in 3 easy steps:
  1. Complete the easy online auto loan application
    Dealer purchase application
    Private party purchase application
  2. Receive your credit decision in seconds1
  3. Finalize your used car financing at your local Wells Fargo store after you’re approved

We can help you finance your used car

Whether you buy your used car from a dealership or from an individual, you’ll get one-to-one help from us to finalize your purchase when you close your used car loan at the Wells Fargo store nearest you.

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Example Loan Terms

A representative example of payment terms are as follows: a loan amount of $20,000 with an APR of 7.50% and a term of 70 months would have a monthly payment of $353.63 with no down payment required. Advertised rates are subject to change without notice.
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1 In some cases, you will receive a message that your used car loan application requires further analysis by our loan officers. In these cases, we will email you the results of your application.
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With private party auto loans from Wells Fargo, you’ll get:

  • Fast credit decisions and loan processing
  • Competitive rates
  • Secure online account access at Wells Fargo Online®