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Auto Loans in Union City (CA)

Your credit score is a critical factor when buying a car, and rates of acceptance have suffered since the downturn in the economy. We allow you to find a dealer or lender that appreciates the opportunity to finance your credit, no matter your credit. We have established an unparalleled network of dealers and finance companies that can finance people with an array of credit profiles, even people who have faced issues like:

  • Bad or no credit.
  • Filing bankruptcy.
  • Repossession.

A vehicle finance professional will help you arrange your loan, so the only thing you’ll have to do is visit the dealership and choose your car. Feel free to apply for your loan.

Bad Credit Car Dealerships in Union City, CA

Bad credit doesn’t have to keep you from the driver’s seat of your new car. We can pair you with dealers all across California that want to get you behind the wheel, no matter your credit score. Any time you have bad credit, you can expect:

  • Much higher interest rates.
  • More upfront cash required.
  • Less expensive vehicles.

But keep in mind, they will arrange your financing through lenders that report back to the credit reporting agencies, which is essential if you’re hoping to repair your credit. Here at Motive Auto Finance, we work with many such dealerships, and when you submit your application, we can pair you with one who wants to arrange your loan.

Lower Auto Loan Rates for Union City Borrowers

Lots of car-buyers focus on paying the lowest price they can for the vehicle they’re looking at, but for people who have poor credit, interest rate is equally as significant.

Take a look at this table that shows the impact of various interest rates.

Good Credit Decent Credit Poor Credit
Size of Loan $53,901 $53,901 $53,901
Rate 3.50% APR 7.00% APR 11.00% APR
Payment Per Month $981 $1,067 $1,172
Total Interest $4,932 $10,137 $16,415

So as to keep your interest rate affordable, make sure to review your credit report for any errors. If you find anything that’s out of date, send a letter to the credit bureau where you’re seeing the error. This is a quick and simple way to boost your credit score. Next, it’s a good idea to pay off any debts you can, as lenders prefer consumers without a lot of existing debt. Securing a shorter-term loan will also keep your rate more manageable, and it will also help you avoid negative equity. Last but not least, how much can you put down on your new car or truck? A greater down payment will translate into a lower rate of interest.

Buy Here Pay Here Dealerships in Union City, California

Most people turn to buy here pay here auto lots, convinced that they can only get approved without a credit check. Not so. Typically, dealer finance is outsourced, as dealers work with banks or credit unions to provide the loans. On the other hand, buy here pay here dealers provide funding independently. Negatives include excessively high lending rates and down payments, as well as older vehicles and in-person payments If bettering your credit score is important to you, you are better off applying through us, as buy here pay here car lots won’t assist you in re-establishing your credit.

Budgeting Recommendations for Union City Consumers

Take 10% of your monthly income, pre-tax. You’ll want to spend this much, at the most, on your monthly payment. Furthermore, go with a 60-month loan at most. If you follow these two rules of thumb, you will find yourself buying a car or truck that costs roughly 50% of your yearly income. Here in Union City, where the average income is $71,863 annually, the average consumer would buy a car costing about $35,934. Remember, this is at the upper end of what you ought to spend. Many industry experts propose investing just 10-30% of your income for a new car or truck.

Cars in Union City for Sale

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