To finance your Saab, you’ll more than likely have to seek out a car loan through a bank or credit union. Saab went bankrupt in 2011 and ceased production of its vehicles in the following years. That being said, some used car dealerships offer in-house financing as well.
Even though Saab vehicles are not being produced anymore, you’ll still find plenty of them on the roads. The Swedish-built vehicles were assembled with reliability and longevity as the top priority. Saab cars have been known to regularly cross the 300,000-mile mark on the odometer.
Finding a Saab for sale is the first challenge, the next challenge is figuring out how to finance it, and the final challenge is finding insurance.
Car insurance broker and loan expert
Jerry is here to help you review all your options.
How to get a Saab car loan
To get the financing process going for your
Saab, you’ll want to follow these steps: check your credit, compare lenders, and get preapproved.
Check your credit
Your credit score can be a large influence on your lender’s desire to offer you a loan with desirable terms and interest rates. Generally speaking, any credit score above 660 is considered good for a car loan.
If your credit score is below 660, you may have to call in reinforcements to qualify for a car loan. Lenders may accept personal references, proof of income statements, or co-applicants as means to justify your qualification for the auto loan. It’s nothing personal, the lender just wants to make sure they are making a good deal.
Take a look at the table below to see the average APR and monthly payment for different Saab vehicles based on your credit score:
Car Make | Average Annual Interest Rate | Average Monthly Payment |
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Compare lenders
Whether you are financed through a bank or an in-house finance department at a used car dealership, try to hit these targets for your car loan:
- Short loan term: 60 months or less
- Low APR: 4.93 percent or lower
- Manageable monthly payment: No more than 10 to 15% of your monthly income
- At least three quotes: From different lenders
While low interest rates are often tempting to jump at, make sure you receive good customer service too. High-quality service is often worth spending a little extra on to avoid any potential headaches in the loan financing process.
Get preapproved
Your lender may be more willing to negotiate the details of your car loan if you are already preapproved. Prior to the day of purchase, fill out an application and provide your lender with the following information:
- Social Security number
- Employment documents
- Driver’s license or other photo ID
- Income documents (paystubs, etc.)
Key Takeaway You’re well on your way to purchasing a Saab with a credit score above 660 and an accepted preappoval application.
Average loan term for a Saab car loan
The average repayment timeline for car loans in the United States is 72 months. While this is the average, this can (and should) be adjusted to match your financial capabilities.
For those looking to
save money, it’s best to repay your car loan in *
60 months or less. By contributing more to your monthly payment, you will pay less interest in the long run. Ensure that your loan provider doesn’t have a
prepayment penalty for paying off your loan ahead of schedule.
For an idea of what your monthly payment and interest rate might look like depending on your Saab’s loan term, see the table below.
Loan Terms | Average Annual Interest Rate | Average Monthly Payment |
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Finding a Saab car loan in your state
Auto loan payments and interest rates can vary state by state. You’ll want to find a lender that knows the local indicators.
Jerry is here if you want to fact-check your lender.
See what you could pay for a Saab car loan in your state by checking out the table below.
Credit Rating | Average Annual Interest Rate | Average Monthly Payment |
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Saab car loans: new vs. used
Considering Saab no longer produces cars, it’s very unlikely and maybe impossible to find a brand new vehicle. But, you can just as easily get a car loan for a used Saab.
Some used car dealerships offer in-house financing. If not, you’ll want to trust a bank or a credit union with your car loan.
Used cars typically run a higher APR but traditionally have a smaller principal loan amount.
Curious how your Saab’s age will affect your loan? Here’s how your monthly payment and APR could break down based on your Saab’s model year.
Car Year | Average Annual Interest Rate | Average Monthly Payment |
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How to calculate the costs for a Saab car loan
To calculate the total costs of your car loan, you’ll want to use this equation… Just kidding! Jerry has built this handy dandy car loan calculator to tell you all the financial details of your car loan. Check it out below!
Average Annual Interest Rate | Average Monthly Payment |
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Save money on Saab insurance with Jerry
Since Saab vehicles are no longer in production, maybe one day they will be worth a fortune. But until then, you’ll want to make sure it’s protected with the right car insurance.
Jerry is a great place to start.
It’s this simple: download the Jerry app or go to getjerry.com. In less than 45 seconds, Jerry collects all of your information from your existing insurer. Choose from competitive quotes from 50-plus top insurance companies and Jerry takes care of the rest—securing your new policy and helping you cancel your old one. No long forms. No calling around. No hard work. Just savings.
The average Jerry user saves $887 a year on car insurance.