There are many options to consider when you’re getting a car loan for a Buick. You can finance your vehicle through a dealership or Buick online. Or, you can discuss the loan with your bank or credit union to make sure you’re getting the best APR available.

If you’re looking for a trendy upscale SUV or sedan, look no further than Buick’s model lineup. Financing a Buick can feel intimidating, but there’s no reason you can’t find a reasonable car loan for your new ride.

Here, the car insurance super app Jerry walks you through the ins and outs of financing. From comparing lender options to helping you calculate your monthly payments, Jerry’s got everything you need to know about getting a car loan for a Buick.

How to get a Buick car loan

The Buick Enclave and the Lacrosse model are popular choices for drivers looking for a reliable and trendy vehicle. Getting a car loan for any Buick vehicle involves a lot of steps, but there are some things you can do to save yourself time and money in the long run.

By checking your credit rating, comparing lenders, and getting preapproved, you can get a head start on financing a Buick.

Check your credit

The most important factor a lender uses to determine your eligibility for a car loan is your credit rating. If your credit is 660 or over, you’re well-situated to get good rates on financing your vehicle.

If you’re under 660, don’t worry—although you may not be eligible for a car loan with some lenders, authorized dealerships can still provide you with decent rates. However, you may be required to follow additional restrictions, such as having a co-applicant on the loan.

The table below provides a general idea of how your credit rating will affect your APR and monthly payments on your car loan.

Credit Rating

Car Make	Average Annual Interest Rate	Average Monthly Payment
BUICK	8.43	$362

MORE: How to get a cosigner for a bad credit car loan

Compare lenders

Choosing the right lender is just as important as finding the right car. Take some time to shop around—compare at least three lender options before making your decision. Some go-to lenders are authorized dealerships, the bank, a credit union, or Buick’s website.

Ideally, you want to find a lender who provides:

Short loan terms: Try to keep your loan term under 60 months
Low APR: A good rule is to keep this value at 4.93% or less
Manageable payments: 10 to 15% of your monthly income should be budgeted for loan payments

Keep these in mind when you’re comparing lenders, but also consider the customer service angle—if a representative takes forever to return your calls or if you feel like you’re being rushed into a contract, maybe it would be better to go with a different lender. Financing a vehicle is stressful enough without having to worry about what’s happening with your loan.

Get preapproved

Whichever lender you decide on, it’s worth going through the process of getting preapproved for a car loan. Preapproval gives you more leeway to negotiate the terms of your loan and saves you and the lender time and hassle.

Most lenders will ask you to fill out a loan application and provide the following information:

Social Security number
Documents proving your employment
Driver’s license or photo ID to confirm your identity
Documents demonstrating you have a steady source of income (paystubs, etc.)

Key Takeaway You can prepare for signing off on a car loan by checking your credit rating, comparing lenders and their rates, and applying for preapproval.

Average loan term for a Buick car loan

The average loan term in the US is around 72 months (six years). The loan term for financing your Buick affects your monthly payments as well as the amount of interest you’ll have to pay off in the end.

Repayment terms of 60 months or less are usually your best option. Even though your monthly payments will be higher, you’ll end up paying less overall since the interest won’t have a lot of time to build up. If you need the smaller monthly payment amount, however, longer lease terms can give you time to fortify your savings and pay the interest at a later date—it all depends on what works best for you.

Financing through Buick itself can also provide some extra perks. If you’re approved for the Buick rewards program, you can reduce your APR for the first nine months of driving your newly-financed Buick. Although the financing options and loan terms may be limited by going through Buick online, it’s worth checking out the additional offerings that can save you money on your monthly payments.

Here are some examples of how your loan term will affect your monthly payments:

Credit Rating

Loan Terms	Average Annual Interest Rate	Average Monthly Payment
24	11.2	$697
36	8.61	$470
48	8.11	$363
60	8.04	$301
72	8.37	$262

MORE: What is APR and how is it calculated?

Finding a Buick car loan in your state

Car loans are also affected by the state you live in. Finding a lender that allows for regional variations is a bonus that isn’t to be taken lightly. Financing a Buick will look slightly different from state to state, so it’s important to take your location into account when you’re looking into average APR and interest rates.

This useful table demonstrates the variations in monthly payments depending on where you live:

Credit Rating	Average Annual Interest Rate	Average Monthly Payment
Fair	16.34	$413
Good	8.4	$361
Very Good	5.1	$341
Excellent	3.88	$333

MORE: Minimum car insurance required in your state: What you need to know

Buick car loans: new vs used

The age of your car will have a major impact on the APR and loan terms that you may be offered. Dealerships tend to favor financing newer models or certified used vehicles.

If your heart is set on taking out a car loan on a vehicle that’s more than five years old, going with a bank or credit union may be your only option. Be prepared for a higher APR on a used vehicle—however, your overall loan will likely be lower.

Want to see the difference between financing a new and used vehicle? Check out the table below.

State

Car Year	Average Annual Interest Rate	Average Monthly Payment
2021	7.66	$305
2020	8.12	$309
2019	8.21	$309
2018	7.96	$307
2017	8.15	$308
2016	8.29	$309
2015	8.48	$311
2014	8.45	$379
2013	8.52	$380
2012	9.43	$511
2011	9.43	$511
2010	9.43	$511

MORE: How to save for a new car

How to calculate costs for a Buick car loan

We’ve reviewed the three important steps you can take when considering your car loan options: checking your credit, comparing three or more lenders to find the best APR and loan offerings, and seeking preapproval to give you more options when financing your Buick. Now, let’s take a look at how the factors we discussed above will affect your car loan using Jerry’s car loan calculator!

State

Credit Rating

Loan Terms

Loan Amount

Average Annual Interest Rate	Average Monthly Payment
8.43	$362

Find affordable insurance with Jerry

Once you’ve financed your new Buick, you can start looking for the best car insurance to make sure your investment is covered. Jerry is an expert at finding the most affordable rates out there—just download the app, answer a couple of questions, and let Jerry take care of the rest.

No more long phone calls or stressful wait times to set up your insurance. In minutes, Jerry will provide you with quotes from over 50 top providers and will even help you switch from your old insurer once you’ve made your choice.

The average Jerry user saves an amazing $887 a year on car insurance!

“I thought my previous insurance rate was the best I could get, since I have a luxury SUV. After Jerry found me quotes, I ended up paying only $80 a month for the same exact coverage. I’ll be shopping for auto insurance through Jerry from now on!” —Petra S.

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