Financing a Pontiac through a dealership is a viable option, but financing through a bank or credit union may offer you better loan terms or customer service.

Back in 2009, General Motors announced that it would be discontinuing Pontiac models as it fought from the brink of recession-era bankruptcy. That being said, there are still a ton of used models on the market.

With such a wide variety of options for auto financing, you may be left wondering if you’re getting the best offer. Jerry is here to help. Not only is Jerry an expert when it comes to finding the cheapest car insurance, we’ve also put together a step-by-step guide to answer all your questions about getting a Pontiac car loan.

How to get a Pontiac car loan

Just because new Pontiacs aren’t being made doesn’t mean you shouldn’t look into getting a used one. In fact, Pontiac happens to be one of the most sought-after defunct car brands, largely thanks to the iconic Firebird.

If muscle cars aren’t really your thing, Pontiac also offers a range of affordable midsize sedans like the Grand AM and the G6.

But first things first.

Before you seek financing, you need to check your credit score. After you get your rating, make sure you compare rates and terms from no less than three different lenders. You’ll also want to try to get preapproved for a car loan—this will help you set a realistic budget and likely get a lower interest rate.

Check your credit

The biggest factor in the terms of your Pontiac loan is your credit score. In most cases, the better your credit score is, the lower your interest rate will be. Generally speaking, anything over 660 is viewed as a good credit rating for a car loan.

In the event that your credit rating has dipped below 660, it’s still possible to get approved for a car loan—especially if you go through a dealership. The best way to get approved with a lower credit score is to prove you can make the required monthly payments on the loan.

Proof of income or a co-signer are good ways to demonstrate financial responsibility.

The table below shows the average APR (annual percentage rate) and monthly payment amounts for different Pontiac models 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

Now that you’ve seen what kind of car loans you may qualify for, you’re ready to choose a lender. Typically, you can receive financing directly from the dealership, or from a bank or credit union.

A good rule of thumb is to review the offers from at least three lenders before making your selection. While you look over the terms, pay special attention to the following:

Short term length: 60 months or less is best
Affordable monthly payments: Aim to keep your payments around 10% to 15% of your monthly income, if not lower
Low annual percentage rate: 4.93% or lower is best

Don’t compare figures only. Another major attribute to a good lender is customer service. A lender who checks all the boxes on paper but has a sub-par customer service team or poor reviews may not be the wisest selection.

Get preapproved

If you can get preapproved for a car loan, you’ll be in a good position to negotiate the loan terms, such as the loan length, to your advantage. It also gives you a clear concept of what your budget is before you sign an agreement. Start the pre-approval process by filling out an application.

You’ll be asked for the following information:

Social Security number
Copy of your driver’s license or valid photo ID
Proof of employment
Proof of income (like pay stubs or another record of other income you receive)

Key Takeaway To get a Pontiac loan, start by checking your credit rating, then compare rates from a minimum of three lenders. Try to get preapproved so that you can negotiate the terms of your financing agreement.

Average loan term for a Pontiac car loan

Since getting an auto loan for a Pontiac means you’ll be purchasing a used car, you may want to keep the loan term on the shorter side—used car loans carry higher interest rates than loans for new vehicles.

Just make sure that the monthly payment amount is something that you’re comfortable with. Since you’ll likely be borrowing less money than you would be for a new car, keeping the loan term under 60 months may be more feasible.

For a glimpse of what you could pay monthly and what your interest might look like based on your loan term, see the table below.

Credit Rating

Loan Terms	Average Annual Interest Rate	Average Monthly Payment

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

Finding a Pontiac car loan in your state

The amount you pay each month for your loan and the interest rate percentage varies state to state. When you’re financing an older vehicle—such as a used Pontiac—signing an agreement with a local bank or credit union could be your best bet.

Local lenders will have a better understanding of the financial climate in your home state. They may be able to offer you a lower APR based on that—as long as your credit score qualifies you for it.

Take a look at what you could pay for a Pontiac car loan in your state.

Credit Rating	Average Annual Interest Rate	Average Monthly Payment

MORE: How to get a car loan from a credit union

How to calculate the cost of a Pontiac car loan

When all is said and done, your monthly loan payment and APR are calculated according to your credit score, the loan term, the loan amount, and where you’re located.

Want to see how much you’ll pay? Give Jerry’s car loan calculator a try!

State

Credit Rating

Loan Terms

Loan Amount

Average Annual Interest Rate	Average Monthly Payment
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Save money on Pontiac insurance with Jerry

Regardless of what car you buy, it’s a major purchase, and you want to keep it protected with a solid car insurance policy. That’s where Jerry comes in.

Jerry is a car insurance comparison and licensed broker app that specializes in getting you the lowest price for the coverage that suits your needs. The app is super easy to use—once you download it, all you’ll need to do is answer a few basic questions about yourself and your Pontiac. In under a minuteJerry connects you to the most competitive rates from over 50 top insurance companies!

Let Jerry take care of all the paperwork and phone calls. Once you decide to switch insurance providers, Jerry sets you up completely—right down to helping you cancel your old policy! Thanks to Jerry’s expertise, users save an average of $887 a year on car insurance!

“I was so intimidated about purchasing insurance for my new car. Instead of talking to agency after agency, I found Jerry, which did all the work for me. It was so user-friendly.” —Alice B.

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