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Best Car Loans in Fort Myers, FL

Aug. 26, 2019, 5:03 p.m.

Whether you’re buying a new or used vehicle, most people don’t have enough saved to make the purchase. You need a car loan, but credit, employment and income can impact your eligibility and financing. Our partners at ConsumerAffairs researched the best car loans in Fort Myers to help you save money and find the best rates.

Everyone deserves to make thoughtful, informed purchase decisions. The local guides provided on this website are free for consumers. Fox 4 Now may receive compensation from our partners. Learn more.

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#1
RECOMMENDED
LightStream

Loans for practically anything!

#1 MOST POPULAR
LightStream
LightStream
Features
  • Funds deposited directly to your account
  • Loans from $5,000 - $100,000
  • Visit website for customer service
  • Available in Fort Myers
Read More
Location
Services available in
Fort Myers, FL
No phone available
#2
Auto Approve
Auto Approve
Features
  • Individual loan consultants
  • Online loan calculator
  • Apply online
  • Available in Fort Myers
Read More
Location
Services available in
Fort Myers, FL
(844) 946-7334
#3
LendingTree
LendingTree
Features
  • Read lender reviews from other consumers
  • Compare rates from multiple lenders
  • Available in Fort Myers
  • Compare prices & coverage
Read More
Location
Services available in
Fort Myers, FL
(800) 555-8733
#4
myAutoloan.com
myAutoloan.com
Features
  • Online payment available
  • Find your perfect lender
  • Available in Fort Myers
  • Interest rate calculator online
Read More
Location
Services available in
Fort Myers, FL
(214) 540-3350
#5
Capital One
Capital One
Features
  • Check your loan status online
  • Available in Fort Myers
  • Over 12,000 eligible dealers
  • Auto loan calculators available
Read More
Location
Services available in
Fort Myers, FL
(800) 689-1789
Suncoast Credit Union
Suncoast Credit Union
Features
  • M-Th: 8:30am - 5pm
  • F: 8:30am - 6pm
  • Closed Sat and Sun
  • suncoastcreditunion.com
Location
4491 Underwood Dr.
Fort Myers, FL 33905
(800) 999 - 5887
Regions Bank
Regions Bank
Features
  • M-F: 9am - 5pm
  • Closed Sat and Sun
  • regions.com
Location
5212 Summerlin Commons Blvd.
Fort Myers, FL 33907
(800) 734 - 4667
Capital Bank
Capital Bank
Features
  • M-Th: 9am - 4pm
  • F: 9am - 6pm
  • Sat: 9am - 1pm
  • Closed Sun
  • capitalbank-us.com/products-and-services/borrowing/auto-loans
Location
12205 Metro Pkwy.
Fort Myers, FL 33966
(239) 768 - 7100
SunTrust
SunTrust
Features
  • M-Th: 9am - 4pm
  • F: 9am - 6pm
  • Closed Sat and Sun
  • suntrust.com
Location
11340 Summerlin Square Dr.
Fort Myers Beach, FL 33931
(239) 895 - 0820
BB&T
BB&T
Features
  • M-Th: 9am - 5pm
  • F: 9am - 6pm
  • Sat: 9am - 12pm
  • Closed Sun
  • bbt.com
Location
8930 Colonial Center Dr.
Fort Myers, FL 33905
(239) 936 - 1662
Achieva Credit Union
Achieva Credit Union
Features
  • M-Th: 9am - 4pm
  • F: 9am - 6pm
  • Closed Sat and Sun
  • achievacu.com
Location
4379 Colonial Blvd.
Fort Myers, FL 33966
(239) 728 - 2265
Lake Michigan Credit Union
Lake Michigan Credit Union
Features
  • M-Th: 9am - 5:30pm
  • F: 9am - 6pm
  • Sat: 9am - 1pm
  • Closed Sun
  • lmcu.org
Location
17830 Ben Hill Griffin Pkwy.
Fort Myers, FL 33913
(239) 908 - 5901

How to get an auto loan in Fort Myers

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You don’t need to go to a dealership to get a car loan in Fort Myers. Although dealerships do offer car financing options, you can turn to online lenders, banks and credit unions to be pre-approved for your auto loan.

If possible, seek pre-approval, which allows you to get approved for financing before you buy a vehicle. As a result, you can conclusively know your budget for a new car. You might even receive a lower interest rate and be able to afford more than you think. Finally, you can use it as a bargaining chip to negotiate a more affordable vehicle price.

Applying for an auto loan in Fort Myers

Wherever you choose to go for your auto loan, you need to qualify first. After you apply for financing, the lender will decide whether or not you are eligible. Your eligibility and financing options vary depending on your lender.

Typically, a lender will look at all of the following:

  • Income
  • Employment history
  • Credit history
  • Current debts
  • Active bankruptcies

If you’re approved, your lender will set an APR for your auto loan based on the above factors. APR refers to the annual percentage rate and includes interest and other charges. Generally, the APR ranges from 3 percent to 10 percent.

You can also adjust your auto loan term. There are terms as short as 12 months and as lengthy as 84 months. Although repayment schedules differ, most opt for 36 - 60 monthly payments. Longer loan terms result in lower monthly payments, but a higher overall cost for the loan.

There are other expenses to consider outside of your auto loan, such as a down payment. Do your research before you commit to a loan.

Getting an auto loan with bad credit in Fort Myers

Many people have concerns about qualifying for a loan, especially those with bad credit. However, getting an auto loan in Fort Myers with bad credit is still possible.

Some lenders require higher credit scores to qualify, but others work with lower credit scores (under 650). However, borrowers with low credit scores tend to have higher APRs.

There are still ways to get reasonable rates on auto loans with bad credit:

  • Shop around. It takes time to find the best deal, especially with bad credit.
  • Consider waiting. You can improve your credit before financing. A higher credit score means better rates.
  • Plan to refinance. You could receive your loan now and refinance when your credit improves.
  • Consider making a more substantial down payment. This will both decrease the overall amount of your loan and potentially lower your APR.

LightStream

LightStream

If you have good credit, consider working with LightStream, an online division of SunTrust Bank. One of the highlights of this company is its flexibility. With a loan from LightStream, you get no restriction on the make or model of your vehicle. Customers comment on the flexibility of their loan.

Auto Approve

Auto Approve

If you are refinancing, Auto Approve is a great option. The company can help you obtain a lower interest rate for your vehicle, as well as a lower monthly payment. Although they don’t do conventional financing, refinancing can make a big difference in your monthly payment. Customers comment on the excellent service they receive.

LendingTree

LendingTree

LendingTree isn't a lender, but rather a loan marketplace. This company makes it easy for you to shop around for car loans in Fort Myers. As a result, you can get more affordable rates. Local customers claim that the ease of comparing loans makes this company a smart option.

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myAutoloan.com

myAutoloan.com

myAutoloan.com works better for individuals who have average credit scores and are serious about buying a vehicle. This company collects loan offers from multiple lenders. Once you have the offers, compare rates and choose the best option. Customers comment on the speed at which they received offers.

Capital One

Capital One

With this bank, you can pre-qualify for a vehicle loan. Pre-qualifying won’t impact your credit score when you apply, which is beneficial if you’re shopping around for rates. Most customers enjoy the attentiveness and professionalism of the staff members.

Our partners independently research and analyze the companies mentioned in our guides and work with subject matter experts to add valuable information that helps consumers make smart purchase decisions. Our partners will not include companies on these guides that do not meet specific quality standards. The compensation we receive from our partners may impact how and where companies appear on our site, including the order in which they appear.

Our partners independently research companies, and use editorial discretion to award companies with special recognition (i.e. Best Value) based on their staff’s judgement or subject matter expert’s judgement. Our partners do this to help you identify companies that will meet your specific buying needs, and do not receive compensation for these designations.