Auto Loans in Oakland (CA)

In Oakland, you have several options for securing an auto loan, but not many companies have streamlined credit acceptance like us. Our company assists shoppers in Oakland every day, helping them put together their auto loans long before they visit the dealer. You’ll be walked step by step through the lending process by a lending professional based where you live.

Gauging Interest Rates in Oakland

Lenders wouldn’t be in business if they approved people who missed their payments. Therefore, the the higher your FICO score, the cheaper your annual percentage rate is going to be.

  • Credit score: higher is better.
  • History of credit: longer is better.
  • Vehicle mileage: less mileage is better.
  • Length of term: quicker is better.
  • Time at employer: longer is better.
  • Time at residence: longer is better.
  • Type of employment: 1099 isn’t as good.

Loan providers need more information in order to offer you an annual percentage rate. Go here to apply online.

Used Car Auto Loans in Oakland

Nowadays, a car with some mileage on it winds up being a significantly better option than a brand new one. People sometimes disregard used cars for having more costly rates of interest, but remember that they are cheaper at signing and over the long haul. Maintenance worries can be relieved by looking for a late model vehicle or purchasing a new warranty. If you’d like to combine the budget-friendliness of a preowned car with the dependability of a new one, consider purchasing a vehicle from your chosen car maker’s certified preowned (CPO) program.

Bad Credit Oakland Auto Loans

There are all kinds of issues which can result in a bad credit score: medical bills, repossession, bankruptcy, etc. Luckily, there are loan providers and dealerships in Oakland that have experience serving credit-challenged consumers. Through us, you can contact an automotive lending professional from a dealer or lender in your zip code who wants to get you behind the wheel.

At a bad credit dealership, your sales rep will want to discuss financing right off the bat. If you apply through us, you can set up your auto loan on the phone, then pick a date for you to visit the dealership and sign for your vehicle. Make certain your auto loan payment isn’t greater than 10% of your income. For a consumer earning the Oakland average of $1,699 of income a month, this is $170. The calculation is simple enough. Just divide your monthly income by 10 for your own maximum payment.

Oakland Buy Here Pay Here Financing

The buy here pay here industry wants you to believe that you can’t get approved anywhere else, but this typically isn’t the case. A lot of dealer finance is indirect, in that dealers work with various lenders to provide the loans. In contrast, BHPH dealers provide loans independently.

Drawbacks include:

  • Exorbitant Interest rates
  • Exorbitant Down Payments
  • Overpriced Vehicles
  • Ignition Kill-Switches

Because of this, these dealerships don’t have a great reputation. We want to place you with a reputable dealer who can get you approved, not matter your credit.

Oakland Income and Finances

  • Yearly Income: $20,383
  • Income Per Month: $1,699
  • Recommended Monthly Payment: $136 (8% of monthly income)

Oakland Auto Loan Rates and Payments

The total amount you can put into a new car or truck depends on several variables. These estimates derive from a monthly payment of $136, which is 8% of the average consumer’s monthly income in Oakland, coupled with a 20% down payment and 60 month repayment terms. Lending rates are simply estimations.

Prime Credit Average Credit Bad Credit
Monthly Payment $136 $136 $136
Rate 3.50% 7.00% 11.00%
Term Length 5 Years 5 Years 5 Years
Sticker Price $9,339 $8,580 $7,814
Money Down $1,868 $1,716 $1,563
Total Interest $684 $1,291 $1,904

Complete Your Application Here!

Regardless of your credit, we can help you obtain the funding you need. We will match you with a dealer or lender that’s local to Oakland.