Auto Loans in Cupertino (CA)

When it comes to getting an auto loan in Cupertino, few companies have optimized the experience like ours has. As opposed to waiting until you’re in negotiations at the dealership, we enable you to get approved for a car loan ahead of time. It really is tough to find an easier way to finance your next car.

New versus Used Cars in Cupertino

New cars and trucks start losing value the instant you buy them, but they offer lower interest rates and more extended repayment terms than used ones. Regardless of elevated rates of interest, used cars cost less money, as is evidenced in the chart that follows.

New Car 1 Year Old Car 2 Year Old Car 3 Year Old Car
Retail Price $41,680 $31,260 $25,008 $20,840
Down Payment $8,336 $3,126 $2,501 $2,084
Interest Rate 5.00% 7.50% 7.50% 7.50%
Years 5 4 4 4
Payment $629.24 $680.25 $544.20 $453.50
Interest $4,411 $4,518 $3,614 $3,012
Total Cost $46,091 $35,778 $28,622 $23,852

New vehicles are seen as lower risks, however, so they’re sometimes easier to finance if you have bad credit.

Bad Credit Cupertino Auto Loans

Have poor credit resulting from issues like outstanding bills, job loss, divorce, or bankruptcy? A lot of shoppers believe they have no choice but to get approved by a buy here pay here car lot in Cupertino, because of bankruptcy or other issues of this nature, but you really want to avoid these car dealers. Through us, you can contact a vehicle lending expert from a lender or dealer within driving distance who is willing to finance your credit.

If you have good credit, your top priority will be to look at the vehicles that are available. If you have bad credit, however, you will take more time discussing your interest rate, lending terms, and down payment. If you apply through us, you can set up your car loan with a finance specialist, then make an appointment for you to sign and drive. No matter your credit, there has to be a vehicle to suit your budget. It’s recommended that the payments are between 5 to 10% of your monthly income. If you get paid $4,168 per month, this would be a payment of $208 (5%) to $417 (10%).

Cupertino Buy Here Pay Here Financing

People today in Cupertino and throughout California head for buy here pay here car lots, believing they will only be able to finance a car with no credit check. Rarely is this the case. Dealers like these will approve just about anyone, no matter their credit, but there are drawbacks.

Cons include excessively high finance fees and overpriced vehicles with GPS tracking devices to aid in repossession Worst of all, these dealerships very rarely report to the credit bureaus, and that means you could make all of your payments as agreed without raising your FICO score.

Cupertino Consumer Profile

  • Income Per Year: $50,010
  • Monthly Income: $4,168
  • Ideal Monthly Payment: $333 (8% of monthly income)

Do you know how much car is within your budget? Check the estimates below. The lending rates have been approximated, and the numbers are derived from an income of $50,010 per annum, the average in Cupertino. Repayment term is 60 months.

Great Credit Fair Credit Poor Credit
Monthly Payment $333 $333 $333
Loan Rate 3.50% 7.00% 11.00%
Sticker Price $22,911 $21,049 $19,170
Down Payment $4,582 $4,210 $3,834
Interest Paid $1,677 $3,167 $4,670