Ohioans with new auto loans can be charged interest rates of up to 30 percent or more in some states.

Here’s what you need to know.

1.

Rates are higher in some areas.

Ohioans can be asked to pay up to a 50 percent interest rate on their new loans.

Rates vary depending on the state, but they generally aren’t lower than in California.

Auto loan applications must include your credit score and car ownership record.

Ohio also requires borrowers to pay at least $750 a month to cover the cost of gas, insurance and repairs.

That’s the average monthly rate for new vehicles in Ohio.

2.

There’s a small chance you’ll have to pay more than the typical rate.

Interest rates for new loans are based on your credit report, which typically includes your credit scores and other data.

In some cases, you’ll get a discount on your loan if you have a good credit score.

However, most lenders offer rates that are higher than average, and that could mean you’ll pay a higher interest rate.

If you have less than a high-school education, you might have to take out a larger loan.

3.

Interest rate changes could make it difficult to make payments.

Interest on new loans typically increases in increments of 10 percent per year.

The interest rate increases will vary by lender, and some lenders will not change the rate.

4.

You’ll have less money to pay off your loan than you did before.

Some lenders will pay you less on a new loan.

This is called a late payment, and it can cost you money.

You can reduce the amount of interest you’re paying by paying your loan in full or by making payments over a period of time, according to the Consumer Financial Protection Bureau.

5.

You won’t get a refund for your loan.

Some auto lenders will accept a payment of the loan, or they’ll refund the amount you paid over the life of the auto loan.

But in some cases there’s no money to make up for the loan because you won’t be able to get a payment plan.

In that case, you can get a loan forgiveness program, which allows you to pay a smaller percentage of your loan amount toward your car loan payment.

Learn more about auto loans and car loans.

6.

It may be more difficult to qualify for a loan than before.

You may be asked about the past, and you may have to provide proof of income or assets.

Some banks won’t accept a credit report that’s less than six months old.

Other lenders may have a stricter requirement that a borrower provide proof that they’ve worked in the last six months.

Learn how to qualify.

7.

There are many different kinds of loans available.

You have several types of auto loans, including new car loans, small loan loans, and auto loans with a longer repayment term.

You also have loans that are either limited-term loans, which are only paid off in one year, or are a fixed-rate loan, which can be paid off each month, or a loan that is tied to an income or credit history.

Learn about different types of loans.

8.

You might be able, if you work hard, to get an auto loan that pays off in your lifetime.

The National Association of Home Builders says you might be eligible to get at least two loan extensions a year, based on factors like income and education.

But it can be difficult to get more than one loan extension, especially if you’re in a bad credit situation.

The association recommends getting three extensions, including one in the next three years.

The federal government provides an extra $5,000 to eligible borrowers to cover certain loan repayment requirements.

Learn what you can do to help.

9.

You could have to repay the loan more quickly than before, even if you pay off it in full.

The average loan repayments in Ohio are about $7,000 a year.

You will have to make monthly payments on the loan at the rate of about 8.75 percent, which is less than the average loan payment in California, which averages about 9.75.

That may mean you have to increase your payments, or pay for a higher rate.

10.

You should keep in mind that your loan could be forgiven if you don’t pay it back in full within a certain period of months.

You don’t have to keep your loan open for at least six months to get that forgiveness, but you may not get it if you make payments over the next 12 months.

Find out if you qualify.

11.

You’re not guaranteed a loan if your income falls below certain thresholds.

Some states have requirements that borrowers must make at least 80 percent of their income from jobs, education, or self-employment before they can get loans.

You shouldn’t rely on that assumption if you earn less than about $40,000.

You must pay your loan off in full every year and repay it every year, even after you’ve paid off the loan.