Car Loan in Kansas 2024

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Before you begin searching for a car loan in Kansas, make sure your credit score is at 661 or higher. This will help you secure a low interest rate, ideally one that has a term of five years or less.
Choosing the right car loan in Kansas can be a complicated and confusing process. Don’t worry! Car insurance super app Jerry is here to simplify everything from securing a car loan to finding the best car insurance.
Here you’ll find everything you need to know in order to get an auto loan in Kansas, including finding the right lender, understanding what rates and interest you can expect, and every step you’ll need to take in order to actually secure your loan.

What is a car loan, and what is it for?

Nearly all cars are purchased through loans nowadays. Unless you have a great deal of excess cash lying around, a car loan is most likely how you’ll want to finance your purchase.
Some dealerships in Kansas will offer an internal loan directly through their company. If your dealership does not, you’ll probably want to take out a loan from a bank or credit union. That way you can drive your car home now and pay off the value over a specified number of months, known as your loan term.

Things to know before you get started

The first thing you should know is that most auto loans won’t cover the full amount of the cost of the car. You’ll probably be expected to pay a portion of the price up front. This is called a down payment. This is usually 10-20% of the total cost.
The remainder of the cost is the amount you will borrow from the lender. This is called the principal. You will pay the principal back gradually over time in monthly installments.
The exact amount of these payments as well as the number of months you will have to make them depends on the terms of the agreement you make with the lender.
You will also need to negotiate the (APR)]( or Annual Percentage Rate. This is the amount you will pay in addition to the loan principal. In short, this is what the lender gets out of the deal and why they give it to you.
Exactly what your APR, term, and monthly payment amount will be depend on the deal you make with the lender. What they are willing to offer you will be influenced by the cost or type of the car being purchased as well as your credit score. Here is a quick breakdown of the sort of numbers you can expect from a Kansas car loan.
Car MakeAverage Annual Interest RateAverage Monthly Payment
ALFA ROMEO8.19$359
Land Rover8.19$359

How to get a car loan in Kansas

Now that you are familiar with the basic concepts and terms surrounding car loans in Kansas, here are the steps you’ll need to take in order to actually get one.

Check your credit

First things first, you’ll need to know where your credit stands. If you haven’t done so recently, you need to check your credit score. You can do so online using any number of credit reporting apps. Creditkarma and are a couple of good places to start.
Ideally, you’ll want to see a score of 661 or better. This will help you get a good interest rate,. You’re aiming for an interest rate between three and five percent.
This chart will help you estimate what interest rate and monthly payment you may qualify for based on your credit score.
Loan TermsAverage Annual Interest RateAverage Monthly Payment

Compare lenders

This is important. Make sure to do your homework and know all the options you have for loans before committing to one. Not all loans will be the same and some will be far more fair than others.
Car dealerships will often pressure you to finance your car purchase through them directly. That might seem convenient, but don’t take that offer until you’ve compared it to a few other lenders! . Remember, dealers are salesmen, so they’ll be looking to make as much money off of you as possible.
Once you’ve compared three or four separate lenders, choose the one that works best for you. You’ll want one with the lowest possible interest rate while still having high approval odds.

Choose your loan term

Deciding what loan term you want is extremely important. The shorter your loan term, the higher your payments will be. Fewer payments equals higher amounts each payment. You might think, then, that a longer loan term is better since the payments will be lower. Right?
Wrong. With longer loan terms, you end up paying more interest overall, which means you end up paying more for the same loan.
Most car loans have a term of around five years (60 months). Some go as high as 72 months—but, again, this ends up being more expensive in the long run.
It seems strange, but ideally you want the monthly payments for your loan to be as high as you can comfortably afford. This will mean paying off your loan sooner and paying less interest overall.
The table below shows how your loan term can affect what monthly payments and APR you can expect in Kansas.
Credit RatingAverage Annual Interest RateAverage Monthly Payment
Very Good5.04$340

Get pre-approved

One thing you can do to strengthen you position when negotiating the price of a car is to have a pre-approved car loan before you begin shopping. Whether you are buying from a dealership or a private seller, knowing exactly how much you can spend makes the whole process easier and less stressful.

Can you get a car loan for a used car in Kansas?

Yes: it’s possible to use a car loan to finance a used car purchase in Kansas. Before you get one though, there are some things you should know.
  • Interest rates for used cars are significantly higher than for new cars.
  • If the car in question is very old, it may be hard (or even impossible) to find a lender.
  • You may need to get a loan from a credit union to finance your purchase if the price of the car is too low. Banks usually have a minimum amount for auto loans.
Want to see how the age of your car could affect your car loan in Kansas? Take a look at this table.
Car YearAverage Annual Interest RateAverage Monthly Payment

Kansas car loan calculator

Feeling overwhelmed yet? Don’t worry. There is a lot of information to take in. A lot of numbers. A lot of variables. If you’re poring over the tables above, feverishly scribbling calculations on scratch paper, stop.
You’re with Jerry now, and simple is what we do. We know cars, so you don’t have to. Use Jerry’s car loan calculator to figure out how much you could pay for a car loan in Kansas and what interest rate you can look for based on your credit score, loan term, loan amount, and car make.
Remember though, these numbers are averages. They aren’t guaranteed. Everything depends on the deal you make with the lender. Using this tool, though, you’ll be in the driver’s seat when you sit down to negotiate terms— and ready to watch out for any additional fees or penalties they try to sneak into the loan agreement!
Average Annual Interest RateAverage Monthly Payment

How to find affordable car insurance in Kansas

So, you’ve secured your loan, paid your down payment, and now you’re good to go—right? Well, not quite. You’re almost ready to drive off into the sunset. There’s just one more thing you’ll need to do.
In Kansas, every car is required to have auto insurance if you are going to drive it. You may also need a SR-22 form depending on your driving history.
As always, we’re here to make the process as swift and simple as possible. Download the Jerry super app and let us do all of the work! Jerry searches through 50+ top insurance companies in just seconds!
Once you’ve picked a policy that works for you, Jerry handles all that boring paperwork. We’ll even help you cancel your old policy!
Drivers who use our free app save an average of $887 a year on car insurance. Who said you can’t get something for nothing!?
“I took a shot with Jerry and I’ve never been more happy! I was paying $350, and Jerry found me a Clearcover plan at $105. If saving $245 each month isn’t great news, I don’t know what is.”—Wyatt K.


What credit score is needed to buy a car in Kansas?

Ideally, you should have a credit score of 660 or above to qualify for a car loan in Kansas. You might be able to secure a loan with a lower credit score, but the interest will likely be quite high.

Will a bank give me a loan for a used car?

It depends on the price and age of the car. If the car is too old or too cheap, probably not. If the car is still relatively new and/or the price isn’t too low, you should be able to find a bank that will give you a loan (provided your credit score is adequate, of course).

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