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Ohio /oʊˈhaɪoʊ/ (listen) is a Midwestern state in the Great Lakes region of the United States. Of the fifty states, it is the 34th largest by area, the seventh most populous, and the tenth most densely populated. The state’s capital and largest city is Columbus.
Ohio’s geographic location has proven to be an asset for economic growth and expansion. Because Ohio links the Northeast to the Midwest, much cargo and business traffic passes through its borders along its well-developed highways. Ohio has the nation’s 10th largest highway network and is within a one-day drive of 50% of North America’s population and 70% of North America’s manufacturing capacity. To the north, Lake Erie gives Ohio 312 miles (502 km) of coastline, which allows for numerous cargo ports. Ohio’s southern border is defined by the Ohio River (with the border being at the 1792 low-water mark on the north side of the river), and much of the northern border is defined by Lake Erie. Ohio’s neighbors are Pennsylvania to the east, Michigan to the northwest, Lake Erie to the north, Indiana to the west, Kentucky on the south, and West Virginia on the southeast. Ohio’s borders were defined by metes and bounds in the Enabling Act of 1802 as follows:
Bounded on the east by the Pennsylvania line, on the south by the Ohio River, to the mouth of the Great Miami River, on the west by the line drawn due north from the mouth of the Great Miami aforesaid, and on the north by an east and west line drawn through the southerly extreme of Lake Michigan, running east after intersecting the due north line aforesaid, from the mouth of the Great Miami until it shall intersect Lake Erie or the territorial line, and thence with the same through Lake Erie to the Pennsylvania line aforesaid.
Ohio is bounded by the Ohio River, but nearly all of the river itself belongs to Kentucky and West Virginia. In 1980, the U.S. Supreme Court held that, based on the wording of the cessation of territory by Virginia (which at that time included what is now Kentucky and West Virginia), the boundary between Ohio and Kentucky (and, by implication, West Virginia) is the northern low-water mark of the river as it existed in 1792. Ohio has only that portion of the river between the river’s 1792 low-water mark and the present high-water mark.
The border with Michigan has also changed, as a result of the Toledo War, to angle slightly northeast to the north shore of the mouth of the Maumee River.
Much of Ohio features glaciated till plains, with an exceptionally flat area in the northwest being known as the Great Black Swamp. This glaciated region in the northwest and central state is bordered to the east and southeast first by a belt known as the glaciated Allegheny Plateau, and then by another belt known as the unglaciated Allegheny Plateau. Most of Ohio is of low relief, but the unglaciated Allegheny Plateau features rugged hills and forests.
The rugged southeastern quadrant of Ohio, stretching in an outward bow-like arc along the Ohio River from the West Virginia Panhandle to the outskirts of Cincinnati, forms a distinct socio-economic unit. Geologically similar to parts of West Virginia and southwestern Pennsylvania, this area’s coal mining legacy, dependence on small pockets of old manufacturing establishments, and distinctive regional dialect set this section off from the rest of the state. In 1965 the United States Congress passed the Appalachian Regional Development Act, an attempt to “address the persistent poverty and growing economic despair of the Appalachian Region.” This act defines 29 Ohio counties as part of Appalachia. While 1/3 of Ohio’s land mass is part of the federally defined Appalachian region, only 12.8% of Ohioans live there (1.476 million people.)
Significant rivers within the state include the Cuyahoga River, Great Miami River, Maumee River, Muskingum River, and Scioto River. The rivers in the northern part of the state drain into the northern Atlantic Ocean via Lake Erie and the St. Lawrence River, and the rivers in the southern part of the state drain into the Gulf of Mexico via the Ohio River and then the Mississippi.
The worst weather disaster in Ohio history occurred along the Great Miami River in 1913. Known as the Great Dayton Flood, the entire Miami River watershed flooded, including the downtown business district of Dayton. As a result, the Miami Conservancy District was created as the first major flood plain engineering project in Ohio and the United States.
Grand Lake St. Marys in the west-central part of the state was constructed as a supply of water for canals in the canal-building era of 1820–1850. For many years this body of water, over 20 square miles (52 km), was the largest artificial lake in the world. Ohio’s canal-building projects were not the economic fiasco that similar efforts were in other states. Some cities, such as Dayton, owe their industrial emergence to location on canals, and as late as 1910 interior canals carried much of the bulk freight of the state.
From just over 45,000 residents in 1800, Ohio’s population grew at rates of over 10% per decade (except for the 1940 census) until the 1970 census, which recorded just over 10.65 million Ohioans. Growth then slowed for the next four decades. The United States Census Bureau estimates that the population of Ohio was 11,689,442 on July 1, 2018, a 1.33% increase since the 2010 United States Census. Ohio’s population growth lags that of the entire United States, and Caucasians are found in a greater density than the United States average. As of 2000, Ohio’s center of population is located in Morrow County, in the county seat of Mount Gilead. This is approximately 6,346 feet (1,934 m) south and west of Ohio’s population center in 1990.
As of 2011, 27.6% of Ohio’s children under the age of 1 belonged to minority groups.
6.2% of Ohio’s population is under five years of age, 23.7 percent under 18 years of age, and 14.1 percent were 65 or older. Females made up approximately 51.2 percent of the population.
Note: Births in table don’t add up, because Hispanics are counted both by their ethnicity and by their race, giving a higher overall number.
According to the 2010 United States Census, the racial composition of Ohio was the following:
In 2010, there were 469,700 foreign-born residents in Ohio, corresponding to 4.1% of the total population. Of these, 229,049 (2.0%) were naturalized US citizens and 240,699 (2.1%) were not. The largest groups were: Mexico (54,166), India (50,256), China (34,901), Germany (19,219), Philippines (16,410), United Kingdom (15,917), Canada (14,223), Russia (11,763), South Korea (11,307), and Ukraine (10,681). Though predominantly white, Ohio has large black populations in all major metropolitan areas throughout the state, Ohio has a significant Hispanic population made up of Mexicans in Toledo and Columbus, and Puerto Ricans in Cleveland and Columbus, and also has a significant and diverse Asian population in Columbus.
The largest ancestry groups (which the Census defines as not including racial terms) in the state are:
Ancestries claimed by less than 1% of the population include Sub-Saharan African, Puerto Rican, Swiss, Swedish, Arab, Greek, Norwegian, Romanian, Austrian, Lithuanian, Finnish, West Indian, Portuguese and Slovene.
About 6.7% of the population age 5 years and over reported speaking a language other than English, with 2.2% of the population speaking Spanish, 2.6% speaking other Indo-European languages, 1.1% speaking Asian and Austronesian languages, and 0.8% speaking other languages. Numerically: 10,100,586 spoke English, 239,229 Spanish, 55,970 German, 38,990 Chinese, 33,125 Arabic, and 32,019 French. In addition 59,881 spoke a Slavic language and 42,673 spoke another West Germanic language according to the 2010 Census. Ohio also had the nation’s largest population of Slovene speakers, second largest of Slovak speakers, second largest of Pennsylvania Dutch (German) speakers, and the third largest of Serbian speakers.
According to a Pew Forum poll, as of 2008, 76% of Ohioans identified as Christian. Specifically, 26% of Ohio’s population identified as Evangelical Protestant, 22% as Mainline Protestant, and 21% as Catholic. 17% of the population is unaffiliated with any religious body. 1.3% (148,380) were Jewish. There are also small minorities of Jehovah’s Witnesses (1%), Muslims (1%), Hindus (<0.5%), Buddhists (<0.5%), Mormons (<0.5%), and other faiths (1-1.5%).
According to the Association of Religion Data Archives (ARDA), in 2010 the largest denominations by adherents were the Catholic Church with 1,992,567; the United Methodist Church with 496,232; the Evangelical Lutheran Church in America with 223,253, the Southern Baptist Convention with 171,000, the Christian Churches and Churches of Christ with 141,311, the United Church of Christ with 118,000, and the Presbyterian Church (USA) with 110,000. With about 70,000 people in 2015 Ohio had the second largest Amish population of all states of the US.
According to the same data, a majority of Ohioans, 55%, feel that religion is “very important,” 30% say that it is “somewhat important,” and 15% responded that religion is “not too important/not important at all.” 36% of Ohioans indicate that they attend religious services at least once weekly, 35% attend occasionally, and 27% seldom or never participate in religious services.
Ohio neighborhoods include: Aberdeen, Ada, Adams County, Adamsville, Addyston, Adena, Akron, Albany, Alexandria, Alger, Alledonia, Alliance, Alvada, Alvordton, Amanda, Amelia, Amesville, Amherst, Amlin, Amsterdam, Anderson, Anderson Township, Andover, Anna, Ansonia, Antwerp, Apple Creek, Arcadia, Arcanum, Archbold, Arlington, Arlington Heights, Ashland, Ashley, Ashtabula, Ashville, Athens, Attica, Atwater, Aurora, Austinburg, Austintown, Avon, Avon Lake, Bainbridge, Baltic, Baltimore, Barberton, Barnesville, Batavia, Bay Village, Beach City, Beachwood, Beallsville, Beaver, Beavercreek, Beavercreek Township, Beaverdam, Bedford, Bellaire, Bellbrook, Belle Center, Bellefontaine, Bellevue, Bellville, Belmont, Beloit, Berea, Bergholz, Berkey, Berlin Center, Berlin Heights, Bethel, Bethesda, Beverly, Bexley, Bidwell, Big Prairie, Blacklick, Blanchester, Blissfield, Bloomdale, Bloomingdale, Bloomville, Blue Ash, Blue Creek, Blue Rock, Bluffton, Boardman, Bolivar, Botkins, Bowerston, Bowling Green, Bradford, Bradner, Brecksville, Bremen, Brewster, Bridgeport, Brilliant, Brinkhaven, Bristolville, Broadview Heights, Brookfield, Brooklyn Heights, Brookpark, Brook Park, Brookville, Brunswick, Bryan, Buckeye Lake, Buckland, Bucyrus, Buffalo, Burbank, Burghill, Burgoon, Burton, Butler, Byesville, Cable, Cadiz, Caldwell, Caledonia, Cambridge, Camden, Campbell, Camp Dennison, Canal Fulton, Canal Winchester, Canfield, Canton, Cardington, Carey, Carlisle, Carroll, Carrollton, Casstown, Castalia, Castine, Cecil, Cedarville, Celina, Centerburg, Centerville, Chagrin Falls, Chandlersville, Chardon, Cheshire, Chesterhill, Chesterland, Cheviot, Chillicothe, Chippewa Lake, Cincinnati, Circleville, Clarksburg, Clarksville, Clayton, Clermont County, Cleveland, Cleveland Heights, Cleves, Clinton, Cloverdale, Clyde, College Corner, College Hl, Collins, Columbiana, Columbia Station, Columbia Township, Columbus, Columbus Grove, Commercial Point, Concord Twp, Conesville, Conneaut, Conover, Continental, Convoy, Coolville, Copley, Cortland, Coshocton, Covington, Creola, Crestline, Creston, Cridersville, Crooksville, Croton, Cumberland, Curtice, Custar, Cutler, Cuyahoga Falls, Cygnet, Dalton, Danville, Dayton, Deerfield, Deer Park, Defiance, De Graff, Delaware, Dellroy, Delphos, Delta, Dennison, Deshler, Diamond, Dillonvale, Dola, Dorset, Dover, Doylestown, Dresden, Dublin, Duncan Falls, Dundee, Dunkirk, East Canton, Eastlake, East Liberty, East Liverpool, East Palestine, East Rochester, East Sparta, Eaton, Edgerton, Edison, Edon, Eldorado, Elida, Elmore, Elmwood, Elyria, Englewood, Enon, Etna, Euclid, Fairborn, Fairfield, Fairlawn, Fairport Harbor, Fairview, Fairview Park, Farmdale, Farmersville, Fayette, Fayetteville, Felicity, Findlay, Fletcher, Flushing, Forest, Fort Jennings, Fort Loramie, Fort Recovery, Fostoria, Fowler, Frankfort, Franklin, Franklin Furnace, Frazeysburg, Fredericksburg, Fredericktown, Freeport, Fremont, Fresno, Fulton, Gahanna, Galena, Galion, Galloway, Gambier, Garfield Heights, Garrettsville, Gates Mills, Geneva, Genoa, Georgetown, Germantown, Gibsonburg, Gilboa, Girard, Glendale, Glenford, Glenmont, Glouster, Gnadenhutten, Gomer, Gordon, Goshen, Grafton, Grand Rapids, Granville, Graytown, Greenfield, Green Springs, Greenville, Greenwich, Grelton, Grove City, Groveport, Grover Hill, Guysville, Hamden, Hamersville, Hamilton, Hamler, Hammondsville, Hanoverton, Harpster, Harrison, Harrod, Hartville, Haskins, Haviland, Heath, Hebron, Helena, Hicksville, Highland Hills, Hilliard, Hillsboro, Hinckley, Hiram, Hockingport, Holgate, Holland, Hollansburg, Holmesville, Homerville, Homeworth, Hopedale, Hopewell, Houston, Howard, Hubbard, Hudson, Huntsburg, Huntsville, Huron, Independence, Indian Springs, Irondale, Ironton, Irwin, Isle Saint George, Ithaca, Jackson, Jackson Center, Jacobsburg, Jamestown, Jefferson, Jenera, Jeromesville, Jerusalem, Jewett, Johnstown, Kansas, Kelleys Island, Kensington, Kent, Kenton, Kettering, Killbuck, Kimbolton, Kings Mills, Kingston, Kingsville, Kinsman, Kipling, Kirtland, Lagrange, Lake Milton, Lakeside Marblehead, Lakeview, Lakeville, Lake Waynoka, Lakewood, Lancaster, Langsville, La Rue, Latham, Laura, Laurelville, Leavittsburg, Lebanon, Leesburg, Leetonia, Leipsic, Lewisburg, Lewis Center, Lewistown, Lexington, Liberty Center, Liberty Township, Liberty Twp, Lima, Lindsey, Lisbon, Litchfield, Little Hocking, Lockbourne, Lockland, Lodi, Logan, London, Londonderry, Long Bottom, Lorain, Lore City, Loudonville, Louisville, Loveland, Lowellville, Lucas, Lucasville, Luckey, Ludlow Falls, Lynchburg, Lyndhurst, Lynx, Lyons, Macedonia, Madeira, Madison, Magnolia, Maineville, Malinta, Malta, Malvern, Manchester, Mansfield, Mantua, Maple Heights, Maplewood, Marble Cliff, Marengo, Maria Stein, Marietta, Marion, Mark Center, Marshallville, Martel, Martin, Martinsburg, Martins Ferry, Martinsville, Marysville, Mason, Massillon, Masury, Maumee, Mayfield, Mayfield Hts, Mc Clure, Mc Comb, McConnelsville, Mc Cutchenville, Mc Dermott, Mc Donald, Mc Guffey, Mechanicsburg, Mechanicstown, Medina, Medway, Melrose, Mendon, Mentor, Mentor On The Lake, Metamora, Miamisburg, Middleburg Heights, Middlefield, Middle Point, Middleport, Middletown, Midland, Milan, Milford, Milford Center, Millbury, Millersburg, Millersport, Millfield, Milton Center, Mineral City, Mineral Ridge, Minerva, Minford, Mingo, Mingo Junction, Minster, Mogadore, Monclova, Monroe, Monroeville, Montgomery, Montpelier, Montville, Moraine, Morral, Morrow, Moscow, Mount Blanchard, Mount Cory, Mount Gilead, Mount Healthy, Mount Orab, Mount Perry, Mount Sterling, Mount Vernon, Mount Victory, Munroe Falls, Napoleon, Nashport, Navarre, N College Hl, Negley, Nelsonville, Nevada, New Albany, Newark, New Bavaria, New Bloomington, New Boston, New Bremen, Newburgh Heights, Newbury, New Carlisle, Newcomerstown, New Concord, New Holland, New Knoxville, New Lebanon, New London, New Madison, New Marshfield, New Middletown, New Paris, New Philadelphia, New Plymouth, New Richmond, New Riegel, New Springfield, New Straitsville, Newton Falls, Newtown, New Vienna, New Washington, New Waterford, New Weston, Ney, Niles, North Baltimore, North Bend, North Benton, North Bloomfield, North Canton, North College Hill, North Fairfield, Northfield, North Jackson, North Lawrence, North Lewisburg, North Lima, North Olmsted, North Ridgeville, North Royalton, Northwood, Norton, Norwalk, Norwich, Norwood, Nova, Novelty, Oak Harbor, Oak Hill, Oakwood, Oberlin, Obetz, Ohio City, Okeana, Olmsted Falls, Ontario, Oregon, Oregonia, Orient, Orrville, Orwell, Ostrander, Ottawa, Ottawa Hills, Otway, Owensville, Oxford, Painesville, Pandora, Paris, Parma, Pataskala, Paulding, Payne, Pedro, Peebles, Pemberton, Pemberville, Peninsula, Pepper Pike, Perry, Perrysburg, Perrysville, Petersburg, Philo, Pickerington, Piedmont, Pierpont, Piketon, Pioneer, Piqua, Plain City, Pleasant City, Pleasant Hill, Pleasant Plain, Pleasantville, Plymouth, Poland, Polk, Pomeroy, Portage, Port Clinton, Port Jefferson, Portland, Portsmouth, Port Washington, Potsdm, Powell, Powhatan Point, Prospect, Put In Bay, Quaker City, Quincy, Racine, Radnor, Rarden, Ravenna, Rawson, Ray, Rayland, Raymond, Reading, Reedsville, Republic, Reynoldsburg, Richfield, Richmond, Richmond Dale, Richwood, Ridgeway, Ripley, Risingsun, Rittman, Roaming Shores, Rockbridge, Rock Creek, Rockford, Rocky River, Rogers, Rome, Rootstown, Roseville, Rossburg, Rossford, Rossville, Roundhead, Rudolph, Rushsylvania, Rushville, Russells Point, Russellville, Russia, Rutland, Sabina, Saint Bernard, Saint Clairsville, Saint Henry, Saint Louisville, Saint Marys, Saint Paris, Salem, Salesville, Salineville, Sandusky, Sardinia, Scio, Scott, Seaman, Sebring, Sedalia, Senecaville, Seven Hills, Seville, Shade, Shadyside, Shaker Heights, Sharonville, Sheffield Lake, Sheffield Village, Shelby, Sherrodsville, Sherwood, Shiloh, Shreve, Sidney, Silver Lake, Silverton, Smithville, Solon, Somerset, Somerville, South Amherst, South Bloomfield, South Bloomingville, South Charleston, South Euclid, Southington, South Lebanon, South Salem, South Solon, South Vienna, South Webster, South Zanesville, Spencer, Spencerville, Springboro, Springdale, Springfield, Spring Valley, Sterling, Steubenville, Stewart, Stockport, Stone Creek, Stout, Stoutsville, Stow, Strasburg, Streetsboro, Strongsville, Struthers, Stryker, Sugarcreek, Sugar Grove, Sullivan, Sunbury, Swanton, Sycamore, Sylvania, Tallmadge, Terrace Park, The Plains, Thompson, Thornville, Thurman, Tiffin, Tiltonsville, Tipp City, Tippecanoe, Tiro, Toledo, Toronto, Trenton, Trotwood, Troy, Twinsburg, Uhrichsville, Union, Union City, Uniontown, University Heights, Upper Arlington, Urbana, Utica, Valley City, Van Buren, Vandalia, Vanlue, Van Wert, Venedocia, Vermilion, Versailles, Vickery, Vienna, Vinton, Wadsworth, Waite Hill, Wakeman, Walbridge, Waldo, Walhonding, Walnut Hills, Wapakoneta, Warren, Warrensville Heights, Warsaw, Washington Court House, Washington Township, Washingtonville, Waterford, Waterville, Wauseon, Waverly, Wayne, Waynesburg, Waynesfield, Waynesville, Wellington, Wellston, Wellsville, West Alexandria, West Carrollton, West Chester, Westerville, West Farmington, West Jefferson, West Lafayette, Westlake, West Liberty, West Manchester, West Mansfield, West Milton, Weston, West Portsmouth, West Salem, West Union, West Unity, Wharton, Wheelersburg, Whitehouse, Wickliffe, Wilkesville, Willard, Williamsburg, Williamsfield, Williamsport, Willoughby, Willoughby Hills, Willowick, Willshire, Wilmington, Wilmot, Winchester, Windham, Windsor, Wintersville, Woodstock, Woodville, Wooster, Worthington, Wyoming, Xenia, Yellow Springs, Yorkshire, Yorkville, Youngstown, Zanesfield, Zanesville, Zoarville
For more information, see Ohio wiki
AllCreditCarLoans was founded to help car buyers, even those who may have experienced credit difficulties in the past, get pre-approved for financing before going to a dealership. By separating car financing options from dealer price negotiations, we empower our clients to get the best deal possible.
The first step in obtaining instant auto finance 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 a no down payment auto loan, don't worry. We can still help you.
Finally, use our auto loan payment calculator to estimate your monthly payment.
If you've chosen to buy a new car, you will most likely be purchasing the vehicle from an auto dealership. In order to get the best deal on a new car loan, you should research the base price, the cost of optional features and the average dealer fees in your area. To get the best deal possible, work with AllCreditCarLoans to get a pre-approved car loan so that you can negotiate like a cash buyer.
If you are looking to get the most value for your dollar, you will likely be better off getting a used car loan. That's because the prior owners have already absorbed the biggest portion of the vehicle's depreciation and you may have the option to buy directly from a private seller, thus saving dealer fees. AllCreditCarLoans can help you with an car loan to buy from a private seller.
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No matter what your credit situation is, AllCreditCarLoans will help you to find an easy car loan that is suited to your needs and budget.
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We've provided car loans for first-time buyers, car financing for college students and we are proud to have arranged military 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 dealerships, bad credit auto dealers, second chance auto dealers and other car loan lenders to provide the best auto rates.
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The plain truth is that obtaining auto loans or any other kind of personal loan, for that matter, is not as simple as it used to be, especially in Ohio. Large commercial banks don't want anything to do with personal loans, especially financing new cars. In most cases, people who buy a new car from a dealer wind up financing their loan through the dealership. The dealer will most likely tack additional charges onto the bottom line.
If your credit score is less than perfect you understand that you are facing many restrictions on the type of financing you can realistically get. Lending is a high risk venture. Now more than ever. The lender evaluates your repayment history. Nobody wants to lend money to someone known for defaulting on loans. Those who do, charge more interest and apply more restrictions. More interest equals to more of the money being paid back before you default. How your credit score affects your work ethic is another story. But, it is true. Some employers will not hire you if your credit is bad.
Similarly, you have the "title loan." You put up your car as collateral and agree to pay back the loan in a very short time. Usually about a week. This is basically legalized loan sharking. If you borrow $200, you pay back in the neighborhood of $300 to $400 hundred. This may help you buy a second vehicle, but think about it - is a second vehicle really that important? Why not take the bus for a while, save up and buy your second or first vehicle without all the extra charges?
Always carefully read all of the fine print in any kind of financial deal. If a no credit car loan will benefit your financial situation without putting you out on the ledge, then go for it.
Are you afraid to go shopping for a car because of the embarrassment you may face at the very real possibility of being turned down due to bad credit? If this is you, you're not alone. More than ever before, many are faced with bad credit right now, even in Ohio. What you need right now is a little "credit score infusion". Your score needs to be high enough so you can qualify for that auto loan you so desperately need.
I totally understand. In today's world an auto is a necessity. If you're lucky enough to still have a job right now, you've gotta have a car to get to work. If you've been laid off or just can't find a job, you need a car to go look for a job. You need to pick up your kids from daycare, you need to go to the grocery store. Whatever the issue is, you won't get far without wheels, so here are a few tips you can use to infuse your credit score immediately.
Different lenders have different criteria in relation to what they deem to be a "good" score. Really, what it all boils down to is "What interest rate am I going to have to pay?" You can still probably find a lender who will give you a car loan with a credit score of 580, but you're going to pay a really high interest rate for it. Get yourself bumped up to over 600 and better yet, over 620, and you have a few more options, but the rate you're going to pay is still not going to be pleasant. If you have scores in the range of 650 to 680, interest rates are going to be decent. Get yourself over 700 and you've got shopping power!
There are many scoring models out there, so don't be fooled. There can be a 50 to 100 point difference from one credit scoring agency to another, so your best bet is to stick with your FICO Score. This score is derived by Equifax and is the credit score that most lenders use, so you can be pretty confident with the score you receive.
You can get your FICO credit score for $9.95 if you sign up for their Score Watch program. This is the quickest way to get your score, and a great way to monitor how it's going to shoot up after I teach you a few tricks later in this article. If you do not wish to sign up for this free trial, then you can access all three of your credit reports for free, but you will then have to pay around $7 to $10 to purchase your score from each of the three major credit reporting agencies. You can only do this once a year for free.
Maybe you don't have enough income to qualify for that Ferrari you wanted, yet the loan officer will be able to advise you how much you can qualify for, as long as this is your only issue. If you're turned down because of your score, you can ask what is the minimum score they require to get approved. This will tell you whether or not you're going to need sub-prime car financing or not.
If you're not "bankable" just yet, don't worry. There are still auto lenders out there that will give you a loan, but the rate isn't going to be as pretty. I'd first ask the loan officer at the bank if they have anyone they'd recommend to refer you to. You can also do a search on the net for "bad credit auto loans" and you'll get a slew of links to click on. Some of these sites will search multiple lenders for you and could save you some time. If you like a more personal approach, you can look in your local yellow pages for "auto finance companies". Word of caution here though, finance companies usually carry much higher rates, so be sure to shop around.
Most people worry about whether or not they'll be able to make the monthly payments on a loan without taking into account the loan's term, total interest paid, and loan origination fees or pre-payment penalties.
Generally, the lowest rates on auto loans are available on short-term loans, from 12 to 36 months, which mean a large monthly payment but lower amounts of interest. Longer-term loans often come with higher interest rates. When you calculate the total price of your new vehicle, include the interest costs over the years. If it seems like too much for you, try to renegotiate the interest rate, offer a larger down payment, or shorten the term of the loan. Use our auto loan calculator to estimate your monthly payment.