If you’re ready to apply for a car loan in Nebraska, you should do everything you can to get your credit score to 660 or higher. You will want to secure a low interest rate and a term that doesn’t exceed 60 months.

Super car insurance and loan app Jerry is here to help you get approved for a car loan in Nebraska by making sure you have all the information.

Keep reading to learn how to secure a loan, how to compare lenders, and how a credit score impacts getting a car loan in Nebraska.

How to get a car loan in Nebraska

A car loan is the most common way to buy a new (or used) car. Your loan details will specify the loan amount, the interest rate, the loan term (duration), and any associated fees.

Borrowers can apply for a loan with a bank or a credit union—or even directly from the dealership.

You should expect the following if you want to get approved for a car loan in Nebraska:

You need to have a down payment. This is usually at least 10% of the total vehicle value.
You will have to select a loan term.
You will either be assigned an interest rate or can negotiate one with your loan provider.
The loan will require you to repay the principal amount, most likely in monthly installments, for the loan term until the loan is repaid.
You will need to pay monthly interest according to your annual percentage rate (APR).

Check out this table to see what your APR and monthly payment could be with a Nebraska car loan.

Credit Rating

Car Make	Average Annual Interest Rate	Average Monthly Payment
ACURA	8.23	$361
ALFA ROMEO	8.29	$362
ASTON MARTIN	8.29	$362
AUDI	8.41	$363
BENTLEY	8.29	$362
BMW	8.83	$367
BUICK	8.32	$362
CADILLAC	8.58	$364
CHEVROLET	8.32	$362
CHRYSLER	8.61	$365
DODGE	8.44	$363
FERRARI	8.29	$362
FIAT	8.35	$362
FORD	8.32	$362
GENESIS	8.29	$362
GMC	8.26	$362
HONDA	8.11	$360
HYUNDAI	8.32	$362
INFINITI	8.44	$363
JEEP	8.11	$360
Jaguar	8.29	$362
KIA	8.52	$364
LAMBORGHINI	8.29	$362
LEXUS	8.26	$362
LINCOLN	8.41	$363
LOTUS	8.29	$362
Land Rover	8.29	$362
MERCEDES-BENZ	8.29	$362
MINI	8.29	$362
MITSUBISHI	8.43	$363
Maserati	8.29	$362
Mazda	8.29	$362
NISSAN	8.38	$363
POLESTAR	8.29	$362
PORSCHE	8.42	$363
RAM	8.32	$362
ROLLS-ROYCE	8.29	$362
Subaru	8.29	$362
TESLA	8.72	$366
TOYOTA	8.11	$360
VOLKSWAGEN	8.32	$362
VOLVO	8.14	$361

Here’s what you need to do to get approved for a car loan in Nebraska.

Check your credit

First, check your credit score. Your credit score should be at least 660 or higher to have the best odds of approval. A good score can also help you get an affordable interest rate.

A score of 700 or higher is above-average and could help you qualify for an interest rate of 3% or lower. That’s pretty good considering that the national average is around 5%.

Use the table below to estimate your average interest rate and monthly payment according to your credit rating.

Credit Rating

Loan Terms	Average Annual Interest Rate	Average Monthly Payment
24	10.68	$694
36	8.57	$471
48	8.06	$364
60	8.01	$302
72	8.29	$263

Compare lenders

Shop around for the loan that’s right for you and never feel pressured to accept the terms that a dealership or bank is offering. There’s a chance that you can find a better deal by shopping around.

Compare quotes from three lenders. If you aren’t happy with what you’re being offered or think you can do better, then keep shopping. And bear in mind it shouldn’t only be about the interest rate. Exceptional customer service goes a long way.

Choose your loan term

You can usually negotiate the loan term of a car loan. This is the period over which you must fully repay the loan. The average car loan term in Nebraska is between 24 months and 72 months.

Here’s the thing: the longer the loan term, the lower the monthly payments. That might sound appealing—but remember, you will pay more in interest in the long run. So, secure the shortest loan term (optimally, under 60 months) you can afford.

Here’s how your APR and monthly payment could change based on your loan term in Nebraska.

Credit Rating	Average Annual Interest Rate	Average Monthly Payment
Fair	15.73	$414
Good	8.6	$362
Very Good	5.14	$341
Excellent	3.9	$333

Get preapproved

Don’t start shopping for vehicles until you have been preapproved for a car loan. Getting preapproved will empower you during negotiations. You can choose a car and confidently tell the salesperson your spending limit. If it’s a reasonable amount, there’s a good chance you’ll land the car!

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

Yes, you can finance a used car with a loan in Nebraska. Here’s what you should know:

Used car loans usually have a higher interest rate, sometimes closer to 8%.
There are lenders that will refuse loan requests for cars that are too old.
Many lenders stipulate a minimum amount for car loans. If you only need a small loan for a used car, try getting a loan from a credit union.

Want to see how the age of your car could affect your car loan in Nebraska? Review this table.

Car Make

Car Year	Average Annual Interest Rate	Average Monthly Payment
2021	7.59	$306
2020	7.93	$309
2019	8.14	$309
2018	7.97	$308
2017	8.15	$309
2016	8.28	$310
2015	8.44	$312
2014	8.41	$380
2013	8.48	$381
2012	9.22	$511
2011	9.22	$511
2010	9.22	$511

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Nebraska car loan calculator

Now that you’ve learned all about Nebraska car loans, you need to figure out what it means for you.

Use Jerry’s car loan calculator to figure out how much your car loan in Nebraska might cost and what interest rate you could reasonably get based on your credit score, loan amount, and the make and model of the vehicle you are buying.

Remember that these values are only averages. Also, certain aspects of your loan agreement may be negotiable like the interest rate, loan term, and any additional fees or penalties. This tool is meant to help you get a general idea and inform your negotiations.

Car Make

Credit Rating

Loan Terms

Loan Amount

Average Annual Interest Rate	Average Monthly Payment
8.34	$362

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How to find affordable car insurance in Nebraska

Once you’ve locked down the financing for your new car, you need the right car insurance. The car insurance comparison and broker app Jerry can help you find the coverage you need at a price you can afford.

Jerry is an insurance comparison app that shops for low prices with over 50 insurance companies for free. You will get quotes in seconds, and if you ever have any questions, agents are just a text away. The average Jerry user saves $887 a year on car insurance.

“I wanted to stick with only the insurance my state requires for now. Jerry helped me save $75 a month on my premium!” —Nora H.

FAQs

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

You should aim to have a credit score of 660 or above. This will make getting approved for a car loan in Nebraska much easier.

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

Some banks will refuse a request for a loan that’s below a certain amount. This means if the used car you’re buying is under a certain price threshold, you might need to find another lender, like a credit union.