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Auto Loans in Berkeley (CA)

Here at Motive Auto Finance, we understand the road blocks you face when you need to finance a car with credit problems. We enable you to find a bank or dealer who can fund loans for consumers who have a history of credit problems. We’ve spent years forming an unrivaled network of dealers and lenders who cater to the entire credit spectrum, not just the highest tiers. A vehicle finance expert will help you arrange your loan. All you have to do is go to the your dealer’s lot and choose your new car or truck. Go ahead and submit your online application and chat with a professional.

Auto Loan Berkeley CA

Bad Credit Car Dealerships in Berkeley, California

Bad credit doesn’t have to keep you from buying your next car. We have access to dealers all across California that want to get you in the driver’s seat, regardless of what your credit score is. As compared with a BHPH dealer, such dealerships offer less expensive rates and more desirable terms. The dealer will evaluate your credit and income to determine which vehicles you qualify to finance. You’ll want to find a vehicle that won’t drain your bank account, having a payment equivalent to 10% of your income–at the most. If you get paid $3,513 a month, this is a payment of $351.

Apply online to have a finance specialist confirm your options.

Should You Finance a Pre-owned Vehicle?

Many people can qualify to finance a new or used vehicle, but what’s the way to go? Given that new cars drop in value so quickly, it’s often a smart idea to let somebody else take the loss, and buy a car that’s a few years old.

New Car Used Car
Age New 1 Year Old
Price $35,130 $26,348
Down Payment $7,026 $2,635
Interest Rate 5.00% 7.50%
Length 60 months 48 months
Payment Amount $530.36 $573.35
Total Interest $3,717 $3,808
Total Paid $38,847 $30,155

Berkeley Buy Here Pay Here Dealers

Folks in Berkeley head for buy here pay here car lots, thinking that they can only get financed with no credit check. Not the case. Such dealers offer credit lines in-house, while conventional dealers make use of banks and finance companies, and they will typically finance everyone. More often than not, used autos are the only models for sale, and dealers may expect you to have a GPS tracking device mounted in your vehicle. Repossession is frequent, and the APRs are about as high as California law allows. As if that weren’t a problem, these dealers seldom work with the credit bureaus, which means you could make every single payment punctually without helping your FICO score.

Credit-Building for Berkeley Borrowers

There are three principal credit agencies: Transunion, Experian, and Equifax. Most banks and lenders report your payments to these agencies, helping you to re-establish your credit. The secret is making your payments when they’re due, each and every time. Needless to say, this works in both directions, in that you can intensify your credit problems if you get behind on your payments. To make sure you don’t miss any of your payments, consider options like automated payments.

Cars from Berkeley Dealers

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