When you’re looking to buy a Nissan, you can see if your dealer has any financing options available, but you’ll also be able to look for a traditional car loan through your bank or credit union. You’ll want to weigh your options because there’s no guarantee that the first car loan you’re offered is the best one in the long run.

With a wide array in their fleet from SUVs and trucks to compacts and crossovers, Nissan prides itself on power-packed vehicles that add a little thrill to your day. Experience the thrill and power before you even get behind the wheel by negotiating the best terms for your next car loan.

There are plenty of ways to finance a car, but the best approach is to go after the best loan terms available to you in your circumstances. Car insurance broker and loan expert Jerry is here to help you weed out your options and negotiate with success.

How to get a Nissan car loan

Whether you want to cut down your carbon footprint with a new Nissan LEAF or go offroad in a used X-Terra, the process to get your car loan will virtually be the same. You can expect to check your credit score, compare your options from at least three different lenders, and apply for loan preapproval before you purchase your car.

Check your credit

Credit rating is a powerful tool in setting the foundation for a good car loan, so you’ll need to know your credit score before you can weigh your options. In general, you want a credit score above 660 to have an upper hand as you go into negotiations.

You might still qualify for a loan, even if your credit score falls below 660, but you may have to put in some extra elbow grease. Try to come prepared with references, proof of income, or a co-signer ready to hop on—all of which could help you get approval from a lender.

The table below can help you estimate an APR and monthly payment for different Nissan vehicles based on your credit score:

Credit Rating

Car Make	Average Annual Interest Rate	Average Monthly Payment

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

Compare lenders

Take your credit score to the bank, a credit union, or the dealership where you’re buying your Nissan to begin comparing lenders. You’ll want to compare options from at least three different sources.

See how lenders measure up to one another and to the kind of loan you expected based on your credit score based on the following factors:

Available loan term: 60 months or less to accrue the least interest APR offerings: ideally 4.93% or lower Estimated monthly payment: try to aim for 10 to 15% of your monthly income

Once you’ve compared the terms of your options, check the numbers against your impression of the lender’s customer service. The best loan option may not be right if the customer service is not up to par. Prioritize a lender who is easy to contact, pleasant to work with, and who you trust to value your patronage up to your final payment.

Get preapproved

Always get preapproved for your car loan when possible. Preapproval puts you in a position of power as you negotiate the final details of your loan agreement. Check with your local Nissan dealership to see if you can apply for preapproval online.

To file for preapproval you’ll submit a loan application with the following information and materials:

Social Security number
A valid photo ID (driver’s license, state ID, passport, etc.)
Documents to prove employment
Proof of income (paystubs, bank statements, etc.)

Key Takeaway As you prepare to negotiate your Nissan car loan, make sure to check your credit score, compare loan options from at least three different lenders, and apply for preapproval.

Average loan term for a Nissan car loan

Once you’re in negotiations, you’ll have to decide on the loan term (i.e. the time in which you’ll pay off your loan and accrued interest) that works best for you. At this time, car loan terms in the United States average around 72 months (6 years) but try to aim for 60 months or less.

By going after a shorter loan term you are minimizing the amount of time you spend paying and the amount of interest you can expect to accrue. Longer loan terms may look appealing based on their lower monthly payments, but you will pay more on interest in the long run.

Some dealerships will offer loan terms as short as 24 months, but check your monthly budget to make sure you can manage the monthly payments before you commit. No matter what loan term you go with, don’t assume that you’ll be able to cut costs by paying it off early. Some lenders impose a prepayment penalty to help control the amount they expect to make off of your loan’s interest.

Check the table below to see average monthly payments and APRs based on different loan terms.

Credit Rating

Loan Terms	Average Annual Interest Rate	Average Monthly Payment

MORE: Should you get a 72-month car loan?

Finding a Nissan car loan in your state

Your location also plays a factor in your loan details as average monthly payments and APRs tend to vary by state. Look for a local lender who is sympathetic with your area’s financial demographics and will be more willing to offer the best interest rate available for your credit score.

Estimate your Nissan loan payments by finding your state in the table below.

Credit Rating	Average Annual Interest Rate	Average Monthly Payment

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

Nissan car loans: new vs. used

The process to get a car loan follows the same steps for new and used Nissans, but you’re going to see different offers depending on the vehicle’s age. Some lenders will follow strict vehicle age limits when approving a car loan, while others might hold minimum amounts that exceed the used price.

If your used Nissan is older than five years, you’ll likely want to go through the bank if possible, or a credit union for a smaller loan. Loans for a used car typically run a higher APR, but the interest will likely be offset by the smaller size of the loan.

The table below breaks down the average monthly payment and APR you can expect based on the age of your Nissan.

State

Car Year	Average Annual Interest Rate	Average Monthly Payment

MORE: 7 things to look for when buying a used car

How to calculate the costs for a Nissan car loan

Let’s recap: when financing a Nissan, the monthly payment and APR will be heavily determined by your credit score, the term and amount of your loan, and your location. So what numbers should you expect to end up paying for your Nissan car loan? Use Jerry’s car loan calculator to find out!

State

Credit Rating

Loan Terms

Loan Amount

Average Annual Interest Rate	Average Monthly Payment

Save money on Nissan insurance with Jerry

You’ve got all the tools you need to finance your next Nissan purchase, but you’ll need some solid car insurance before you start up that power-packed engine. Luckily for you, the Jerry app provides power-packed insurance shopping.

All you have to do is download the Jerry app and take 45 seconds to sign up. You read that right—only 45 seconds. Jerry contacts your insurance provider and immediately generates competitive quotes from 50+ providers based on your insurance needs. Once you find one you like, Jerry takes care of the rest to sign you up and cancel any old policies.

Our average user saves $887 a year on car insurance. Just think about how much that could save you while you budget for a shorter loan term.

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