cancel
Showing results for 
Search instead for 
Did you mean: 

Auto loans in California

xenon3030
Established Contributor

Auto loans in California

I want to apply for an auto-loan soon (new car). I have Fico~800. I heard that credit unions might be better options instead of e.g. BOA/Chase. Please inform the best places that should get considered. 

 

For a car with MSRP~50-60k, is it feasible to get ~60-72 months with APR~2.2%?

 

 


Fico8: EX~EQ~TU~800 (12 month goal~840).
BOA (Custom Cash Rewards, Better Cash Rewards, Premium Rewards), Chase (CFF, CSP, Amazon), US Bank (Cash+, Altitude Go,Ralphs), Affinity CR, Discover, Amex (BCP, HH), Walmart/Cap1, Barclay View.
3 REPLIES 3
Credit4Growth
Senior Contributor

Re: Auto loans in California

It is feasible (in most cases) to obtain a lower rate from a credit union rather than a most banks.

I do not think 🤔 most places are currently offering rates that low.  2 day ago i had been searching around to see a decent range of rates for my cousin.  I personally did not find a anything below 2.59% or 2.69% concerning the CUs he may be able to join.

Have you shopped around (viewed rates of local credit unions and institutions you have arelationship with)?

Have you looked into manufacturer's financing programs?

Message 2 of 4
Kforce
Valued Contributor

Re: Auto loans in California


@xenon3030 wrote:

I want to apply for an auto-loan soon (new car). I have Fico~800. I heard that credit unions might be better options instead of e.g. BOA/Chase. Please inform the best places that should get considered. 

 

For a car with MSRP~50-60k, is it feasible to get ~60-72 months with APR~2.2%?


Maybe a month or two ago.

Current looks like 2.49 to 2.65 for 49-60 months.

 

First City Federal CU was my lowest

[ https://www.firstcitycu.org/ ]

 

fccar.jpg

 

Message 3 of 4
xenon3030
Established Contributor

Re: Auto loans in California

The majority of the rates that I see in the credit unions around in the Bay area (60-72 months) are within ~2.5-3.5% range. I will search more.

 

Does SoFi provide auto-loan? From its website, I can only see refinance but not finance. If the rates look good, I may finance with something else and afterward, go for an immediate re-finance to save HP.


Fico8: EX~EQ~TU~800 (12 month goal~840).
BOA (Custom Cash Rewards, Better Cash Rewards, Premium Rewards), Chase (CFF, CSP, Amazon), US Bank (Cash+, Altitude Go,Ralphs), Affinity CR, Discover, Amex (BCP, HH), Walmart/Cap1, Barclay View.
Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.