Looking For A Car Loan In Philadelphia PA During March 2020?
Getting the best deal on an auto loan in Philadelphia PA 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 interest rate possible and without hassle.
The AllCreditCarLoans network of lending partners provides quick and easy auto 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. There has never been a better time to get an auto loan than right now.
By working with AllCreditCarLoans, you can get preapproved for an auto 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 car loan at the best rate, just click the button below to get the process started. Our one-page application form only takes a few minutes to complete.
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 Philadelphia PA
AllCreditCarLoans Follows A Simple 1-2-3 Auto Loan Application Process
No need to wait for hours at your nearest dealership or submit tons of paperwork. No need to worry about your credit history. With AllCreditCarLoans, everything is as easy as 1-2-3.
- 1 - COMPLETE OUR APPLICATION - This process only takes a few minutes. Our online application is secure, so you don’t have to worry about the safety of your information. There are no fees or hidden charges. Applying is totally FREE.
- 2 - RECEIVE YOUR LOAN APPROVAL - Getting your loan approval is fast and easy. We have an extensive lending network, so the loan approval process is efficient. You don’t have to wait for days, weeks or months. Many applicants receive loan approval on the same day they apply.
- 3 - PURCHASE YOUR VEHICLE - With our easy as 1-2-3 process, you can purchase your auto on the same day your loan is approved. You just visit your favorite dealership and negotiate like a cash buyer.
Your Vehicle Financing Options
Your credit history and whom you are buying your car from will determine what kind of auto loan you need.
Whether you are buying a used or new vehicle from a dealer; you need a program designed to help you get a loan despite any credit challenges; or you are looking to refinance an existing loan - we are here to help.
We provide a variety of vehicle financing options to suit your budget and credit situation:
- Philadelphia PA New Car Loans
- Philadelphia PA Used Car Loans
- Philadelphia PA Auto Refinance Loans
- Philadelphia PA Good and Fair Credit Car Loans
- Philadelphia PA 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 Loans, Carmax Auto, USAA Car Loans, Chase Bank Auto Loans, Wells Fargo Auto Finance, Bank of America Auto Loans, NFCU Auto Loans, AAA Auto Loans, Key Bank Auto Loans, PNC BankAuto Loans, Bankrate Auto Loans, US Bank Auto Loans, TD Bank Auto Finance and State Farm Bank Auto Loans.
AllCreditCarLoans works with the best buy here pay here dealerships near you, bad credit dealers, second chance dealers and other lenders to provide the best rates.
We've provided loans for first-time buyers, students, active military and veterans. We've helped foreign nationals and others who do not qualify for a social security number to obtain an auto loan with their ITIN.
If you are looking for a title loan or the best place to refinance your vehicle, we have programs that can help you as well.
We also specialize in subprime auto financing even after bankruptcy and a repossession.
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 Philadelphia PA
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 Vehicle Financing
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 car 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 we are different. We work with leading lenders and 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 preapproved today.
While it is possible to find a lender who will finance a car 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 vehicle 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 vehicles and up to 5 years for new autos.
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 Restrictions
Some lenders only work within a specific network of dealerships. This could limit your choice of vehicles to a handful of 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.
The interest rate you’ll receive depends upon your credit history, your income, the length of the loan and the vehicle you choose.
Steps To Get A Vehicle Loan
Shopping for a car has never been easier. Our vast network of lender partners and streamlined process makes getting an auto loan quick and easy.
1 - Budget For Your Purchase
The first step in obtaining auto financing is to figure out how much you can afford to spend.
If you have a vehicle to trade-in, you should determine its value so that you can factor that into your budget. A good resource for determining your cars 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 auto 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 Car
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.
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.
3 - Apply For Your Auto 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 Philadelphia PA 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 Philadelphia PA.
Shopping For The Best Vehicle Loan Rates In Philadelphia PA?
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||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 Philadelphia PA
Philadelphia, known colloquially as Philly, is the largest city in the U.S. state and Commonwealth of Pennsylvania, and the sixth-most populous U.S. city with a 2018 census-estimated population of 1,584,138. Since 1854, the city has had the same geographic boundaries as Philadelphia County, the most populous county in Pennsylvania and the urban core of the eighth-largest U.S. metropolitan statistical area, with over 6 million residents as of 2017. Philadelphia is also the economic and cultural anchor of the greater Delaware Valley, located along the lower Delaware and Schuylkill Rivers, within the Northeast megalopolis. The Delaware Valley’s population of 7.2 million ranks it as the eighth-largest combined statistical area in the United States.
The geographic center of Philadelphia is located approximately at 40° 0′ 34″ north latitude and 75° 8′ 0″ west longitude. The 40th parallel north passes through neighborhoods in Northeast Philadelphia, North Philadelphia, and West Philadelphia including Fairmount Park. The city encompasses 142.71 square miles (369.62 km), of which 134.18 square miles (347.52 km) is land and 8.53 square miles (22.09 km), or 6%, is water. Natural bodies of water include the Delaware and Schuylkill rivers, the lakes in Franklin Delano Roosevelt Park, and Cobbs, Wissahickon, and Pennypack creeks. The largest artificial body of water is the East Park Reservoir in Fairmount Park.
The lowest point is sea level, while the highest point is in Chestnut Hill, about 446 feet (136 m) above sea level on Summit Street near the intersection of Germantown Avenue and Bethlehem Pike (example coordinates near high point: 40.07815 N, 75.20747 W).
Philadelphia is situated on the Fall Line that separates the Atlantic coastal plain from the Piedmont. The rapids on the Schuylkill River at East Falls were inundated by the completion of the dam at the Fairmount Water Works.
The city is the seat of its own county. The adjacent counties are Montgomery to the northwest; Bucks to the north and northeast; Burlington County, New Jersey, to the east; Camden County, New Jersey, to the southeast; Gloucester County, New Jersey, to the south; and Delaware County to the southwest.
According to the 2018 United States Census Bureau estimate, there were 1,584,138 people residing in Philadelphia, representing a 3.8% increase from the 2010 census. After the 1950 Census, when a record high of 2,071,605 was recorded, the city’s population began a long decline. The population dropped to a low of 1,488,710 residents in 2006 before beginning to rise again. Between 2006 and 2017, Philadelphia added 92,153 residents. In 2017, the Census Bureau estimated that the racial composition of the city was 41.3% Black (non-Hispanic), 34.9% White (non-Hispanic), 14.1% Hispanic or Latino, 7.1% Asian, 0.4% Native Americans, 0.05% Pacific Islanders, and 2.8% multiracial.
* 2017 figures are estimates
The 2010 Census redistricting data indicated that the racial makeup of the city was 644,287 (42.2%) Black (non-Hispanic), 562,585 (36.9%) White (non-Hispanic), 96,405 (6.3%) Asian (2.0% Chinese, 1.2% Indian, 0.9% Vietnamese, 0.4% Korean, 0.3% Filipino, 0.1% Japanese, and 1.4% other), 6,996 (0.5%) Native Americans, 744 (0.05%) Pacific Islanders, and 43,070 (2.8%) from two or more races. Hispanic or Latino of any race were 187,611 persons (12.3%); 8.0% Puerto Rican, 1.0% Mexican, 0.3% Cuban, and 3.0% other. The racial breakdown of Philadelphia’s Hispanic/Latino population was 63,636 (33.9%) White, 17,552 (9.4%) Black, 3,498 (1.9%) Native American, 884 (0.47%) Asian, 287 (0.15%) Pacific Islander, 86,626 (46.2%) from other races, and 15,128 (8.1%) from two or more races. The five largest European ancestries reported in the 2010 Census included Irish (13.0%), Italian (8.3%), German (8.2%), Polish (3.9%), and English (3.1%).
The estimated average population density was 11,782 people per square mile (4,549/km²) in 2017. In 2010, the Census Bureau reported that 1,468,623 people (96.2% of the population) lived in households, 38,007 (2.5%) lived in non-institutionalized group quarters, and 19,376 (1.3%) were institutionalized. In 2013, the city reported having 668,247 total housing units, down slightly from 670,171 housing units in 2010. As of 2013, 87 percent of housing units were occupied, while 13 percent were vacant, a slight change from 2010 where 89.5 percent of units were occupied, or 599,736 and 10.5 percent were vacant, or 70,435. Of the city’s residents, 32 percent reported having no vehicles available while 23 percent had two or more vehicles available, as of 2013.
In 2010, 24.9 percent of households reported having children under the age of 18 living with them, 28.3 percent were married couples living together and 22.5 percent had a female householder with no husband present, 6.0 percent had a male householder with no wife present, and 43.2 percent were non-families. The city reported 34.1 percent of all households were individuals living alone, while 10.5 percent had someone living alone who was 65 years of age or older. The average household size was 2.45 and the average family size was 3.20. In 2013, the percentage of women who gave birth in the previous 12 months who were unmarried was 56 percent. Of Philadelphia’s adults, 31 percent were married or lived as a couple, 55 percent were not married, 11 percent were divorced or separated, and 3 percent were widowed.
According to the Census Bureau, the median household income in 2013 was $36,836, down 7.9 percent from 2008 when the inflation-adjusted median household income was $40,008 (in 2013 dollars). For comparison, on an inflation-adjusted basis, the median household income among metropolitan areas was $60,482, down 8.2 percent in the same period, and the national median household income was $55,250, down 7.0 percent from 2008. The city’s wealth disparity is evident when neighborhoods are compared. Residents in Society Hill had a 2013 median household income of $93,720, while residents in one of North Philadelphia’s districts reported the lowest median household income, $14,185.
More recently, Philadelphia has experienced a large shift toward a younger age profile. In 2000, the city’s population pyramid had a largely stationary shape. In 2013, the city took on an expansive pyramid shape, with an increase in the three millennial age groups, 20 to 24, 25 to 29, and 30 to 34. The city’s 25- to 29-year-old age group was the city’s largest age cohort. According to the 2010 Census, 343,837 (22.5%) were under the age of 18; 203,697 (13.3%) from 18 to 24; 434,385 (28.5%) from 25 to 44; 358,778 (23.5%) from 45 to 64; and 185,309 (12.1%) who were 65 years of age or older. The median age was 33.5 years. For every 100 females, there were 89.4 males; while among individuals age 18 and over, for every 100 females, there were 85.7 males. The city had 22,018 births in 2013, down from a peak 23,689 births in 2008. Philadelphia’s death rate was at its lowest in at least a half-century, 13,691 deaths in 2013.
Apart from economic growth, another factor contributing to the population increase is Philadelphia’s rising immigration rate. Like the millennial population, Philadelphia’s immigrant population is also growing rapidly. According to research by The Pew Charitable Trusts, the city’s foreign-born population had increased by 69% between 2000 and 2016 to constitute nearly 20% of Philadelphia’s work force, and had doubled between 1990 and 2017 to constitute 13.8% of the city’s total population, with the top five countries of origin being China by a significant margin, followed by the Dominican Republic, Jamaica, India, and Vietnam.
Irish, Italian, German, Polish, English, Russian, Ukrainian, and French constitute the largest ethnic European groups in the city. Philadelphia has the second-largest Irish and Italian populations in the United States, after New York City. South Philadelphia remains one of the largest Italian neighborhoods in the country and is home to the Italian Market. The Pennsport neighborhood and Gray’s Ferry section of South Philadelphia, home to many Mummer clubs, are well known as Irish neighborhoods. The Kensington, Port Richmond, and Fishtown neighborhoods have historically been heavily Irish and Polish. Port Richmond is well known in particular as the center of the Polish immigrant and Polish-American community in Philadelphia, and it remains a common destination for Polish immigrants. Northeast Philadelphia, although known for its Irish and Irish-American population, is also home to a large Jewish and Russian population. Mount Airy in Northwest Philadelphia also contains a large Jewish community, while nearby Chestnut Hill is historically known as an Anglo-Saxon Protestant community.
Philadelphia has a significant gay and lesbian population. Philadelphia’s Gayborhood, which is located near Washington Square, is home to a large concentration of gay and lesbian friendly businesses, restaurants, and bars.
The Black American population in Philadelphia is the third-largest in the country, after New York City and Chicago. West Philadelphia and North Philadelphia are largely African-American neighborhoods, but many are leaving those areas in favor of the Northeast and Southwest sections of Philadelphia. A higher proportion of African-American Muslims reside in Philadelphia than in most other cities in America. West Philadelphia and Southwest Philadelphia are also home to various significant Afro-Caribbean and African immigrant communities.
The Puerto Rican population in Philadelphia is the second-largest after New York City, and the second-fastest growing after Orlando. Large Puerto Rican and Dominican populations reside in North Philadelphia and the Northeast. In regard to other Hispanic populations in Philadelphia, there are significant Mexican and Central American populations in South Philadelphia.
Philadelphia’s Asian American population originates mainly from China, India, Vietnam, South Korea, and the Philippines. Over 35,000 Chinese Americans lived in the city in 2015, including a large Fuzhounese population. Center City hosts a growing Chinatown accommodating heavily traveled Chinese-owned bus lines to and from Chinatown, Manhattan in New York City, 95 miles to the north, as Philadelphia is experiencing significant Chinese immigration from New York City. A large Korean community initially settled in the North Philadelphia neighborhood of Olney; however, the primary Koreatown has subsequently shifted northward, straddling the border with the adjacent suburb of Cheltenham in Montgomery County, while also growing in nearby Cherry Hill, New Jersey. South Philadelphia is also home to large Cambodian, Vietnamese, Thai, and Chinese communities. Philadelphia has the fifth largest Muslim population among American cities.
According to a 2014 study by the Pew Research Center, 68% of the population of the city identified themselves as Christian, with 41% professing attendance at a variety of churches that could be considered Protestant, 26% professing Catholic beliefs, and less than 1% are Mormons, while the remaining 24% claim no religious affiliation. The same study says that other religions collectively compose about 8% of the population, including Judaism, Buddhism, Islam, and Hinduism.
The Philadelphia metropolitan area’s Jewish population was estimated at 206,000 in 2001, which was the sixth largest in the United States at that time.
Other religious groups in Philadelphia include Buddhism in Chinatown, and Caribbean and traditional African religions in North and West Philadelphia. Historically, the city has strong connections to the Quakers, Unitarian Universalism, and the Ethical Culture movement, all of which continue to be represented in the city. The Quaker Friends General Conference is based in Philadelphia.
African diasporic religions are practiced in some Hispanic and Caribbean communities in North and West Philadelphia.
As of 2010, 79.12% (1,112,441) of Philadelphia residents age 5 and older spoke English at home as a primary language, while 9.72% (136,688) spoke Spanish, 1.64% (23,075) Chinese, 0.89% (12,499) Vietnamese, 0.77% (10,885) Russian, 0.66% (9,240) French, 0.61% (8,639) other Asian languages, 0.58% (8,217) African languages, 0.56% (7,933) Cambodian (Mon-Khmer), and Italian was spoken as a main language by 0.55% (7,773) of the population over the age of five. In total, 20.88% (293,544) of Philadelphia’s population age 5 and older spoke a mother language other than English.
Zip Code Map
19092–19093, 19099, 191xx
For more information, see Philadelphia Pennsylvania wiki