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Auto Loans in Sunnyvale (CA)

In the old days, you had to lender after lender, looking for one who will fund your loan. Here at Motive Auto Finance, we have made this process simpler, quicker, and more convenient. Our auto finance expertise is unequalled, and we have agents standing by, awaiting your application. Ordinarily, we can match our clients with an appropriate lender or dealer within seconds of application.

Auto Loans Sunnyvale CA

Bad Credit Car Dealerships in Sunnyvale, CA

In this day and age, many dealerships have finance departments devoted to special financing. As with any bad credit loan, certain things are to be expected steeper rates of interest and higher down payments, not to mention shorter repayment periods. With that being said, the experience is preferable to that of a buy here pay here dealer, and your vehicle will likely cost you less in both upfront costs and interest. We work with many of these dealerships, and they want to get you the car you need. Go here to apply online.

Can You Finance a Car without a Down Payment?

Need to finance a new car, but you don’t have the money saved for a down payment? When you get a car loan, you don’t want to owe more than the value of the vehicle. If the your new car isn’t worth as much as what’s owed on it, then you have negative equity. A down payment works against depreciation. For applicants with bad credit scores, it’s often challenging to get financed with no money down. Be that as it may, bear this in mind: trading in your used vehicle could make a down payment, possibly without having to put any actual cash.

Buy Here Pay Here Auto Loans in Sunnyvale, CA

People in the buy here pay here industry would love you to assume that they’re your only option, but this is seldom the case. Sure, they don’t pull your credit, which means bad credit ought not be a barrier to getting approved, but you really pay for this down the road. Typically, higher-mileage autos are the only models you can buy, and dealers may have you make payments weekly, at the lot. The numbers of vehicles being repossessed are astronomical, and so are the interest rates. As if that weren’t enough of an issue, these car lots seldom report to the credit bureaus, and that means you could make all of your payments on a monthly basis without improving your FICO score.

Cars in Sunnyvale That Fit Your Budget

Wondering how much you ought to devote to a car? If at all possible, spend only 8% of what you make each month on your car payment. For the Sunnyvale consumer making $3,712 a month, the city average, this would be $297.

Prime Credit Decent Credit Subprime Credit
Monthly Installment $297 $297 $297
Interest Rate 3.50% 7.00% 11.00%
Down Payment $4,081 $3,749 $3,415
Loan Amount $16,324 $14,997 $13,658
Interest Paid $1,494 $2,821 $4,160
Total with Interest $21,899 $21,567 $21,232
Purchase Price $20,405 $18,746 $17,073

Used Cars from Sunnyvale Dealers

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