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Auto Loans in Oakland (CA)

A bad credit score impacts 1 in 4 California consumers. A favorable credit record may lead to less expensive rates, but we help you, the borrower, find the Oakland car loan you need at a competitive rate.

When you apply, we can set you up with a financing professional in Oakland.

Bad Credit Car Dealerships in Oakland, CA

It is advisable to try to avoid buy here pay here dealers, reputed as they are for dishonest auto lending. There are more reputable dealerships that arrange loans through banks and credit unions. As with all subprime loans, expect more expensive rates of interest and higher down payments, along with stricter repayment terms. But keep in mind, the experience is preferable to that of a buy here pay here dealer, and your vehicle will cost you less in the long run. We work with many of these dealerships, and they want to get you the car you deserve. Go here to apply online.

Is a New Vehicle the Way to Go?

New and used vehicles each have their own advantages. Because new cars drop in value so fast, you might want to consider a used vehicle.

New Car Pre-owned Car
Age New 1 Year Old
Price $16,990 $12,743
Down Payment $3,398 $1,274
Loan Rate 5.00% 7.50%
Duration 5 years 4 years
Monthly Payment $256.50 $277.29
Interest $1,798 $1,842
Total Paid $18,788 $14,584

Buy Here Pay Here (BHPH) Dealerships in Oakland, CA

Generally known as in house financing, your job is your credit, or we tote the note car lots, these businesses generally have a few fundamental features. They…

  1. Finance auto loans directly.
  2. Do not check your credit.
  3. Want you to make your car payments each week, often at the lot.

A lot of folks with really low credit feel that an in house financing car lot is the only real establishment that will be willing to approve their credit. But the truth is, California poor credit auto loans from credit unions and banks typically come with lower rates.

Improving Your Credit in Oakland

There are a trio of principal credit bureaus:

  • Transunion
  • Experian
  • Equifax

The vast majority of auto lending companies report your payments to these agencies, making it possible to boost your credit score. Financing a car:

  • Gives you the chance to supercharge your payment history (35% of your score).
  • Maximizes the spectrum of credit in your profile (10% of your score).

Keep in mind that increases in credit score are progress, building in the course of months, even years. It’s hard to estimate just how much your score is going to go up, but month-to-month improvements of 5-10% have been reported.

Used Cars from Oakland Dealers


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