Category: FAQs

Bad Credit Loan – What Interest Rate can I Expect?

Bad Credit Loan & Interest Rate 

If you’re out shopping for credit or to make a purchase like a car or house, you’ll likely get feedback on your credit.  Over 30% of Americans have credit issues of some kind and may need to find a bad credit loan.

Is the interest rate high? 

Obviously, if you have perfect credit you can get a low interest rate on car loan almost anywhere. But not all of us have perfect credit, in fact, over 40 million americans have what credit bureaus describe as “very low credit scores” and 50 Million americans have no credit at all! If you’re in either one of these categories, you’re not alone and you’ll likely have to get a “bad credit loan.”  In Utah, the interest rates for those with “bad credit” range typically from 12-38%.

What are the loan lengths?

Since we’re the bank, our interest rates and payments are affordable and we offer terms around 2-4 years to allow you to more quickly payoff your car. The finance company Lucky’s Auto Credit uses charges the same interest rate for all its customers, but the length of time you’re paying interest is often half the time of a 6-7 year term.  Every car dealership will have a true cost of credit that will show you the cost of financing a car and how much interest and principle you’ll have paid over the life of the loan.

How do I Apply?

To apply for an interest rate car loan bad credit, click the apply now button at the top of this page. Or check out our awesome inventory by using this used cars inventory link. We get new inventory every week so check back often and be sure to come in to get approved beforehand! Chances are we’ll have the car that fits you perfectly.

Buy Here Pay Here – How does it work?

Lucky’s is the leader in Buy Here Pay Here lending in Utah, and is one of the fastest growing car dealerships selling used cars and trucks in Utah! The reason is simple: We take great care of our customers, we help you with funding when everyone else turns you down, and our short term loans give you the greatest chance to rebuild your credit and OWN the car you buy! We hope the pages below answer any questions you might have. The quickest way to know exactly how we can help is to visit one of our awesome locations and spend 5-10 minutes and complete an app. We don’t care about your credit, and EVERYONE gets approved with a plan! We have a zero-pressure sales process because our #1 goal is to help you succeed!

Used Cars & Trucks in Utah: Makes and Models


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* 77¢ down offer approval is based on job and residence stability, & ability to afford payments. While supplies last.

No information contained herein can be relied upon as legal, tax or any other type of professional advice. It is for general informational purposes only and does not apply to your particular set of circumstances.
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