How Are Blythe, CA Car Loan Rates Determined?
Various factors contribute to your California auto loan rate, including your credit score, the amount of the loan, your income, the car's age, the down payment, and the length of the loan (your loan's term). A low credit score, high debt-to-income ratio, or purchasing an older vehicle from your Blythe dealer might lead to a higher interest rate. But is a high interest rate so bad? The higher your interest rate gets, the more you pay each month and the more you spend over the term of your loan. Just one or two percent more could mean spending hundreds more overall.
How Can I Get a Lower Car Loan Rate in Blythe, CA?
With tools like our Interest Rate Estimator, you can get a feel for what your rate might look like before you begin applying for auto loans in Blythe, CA. If you've filled out your information and aren't happy with the percentage you see, what can you do to lower it?
The loan term is one element you can control. Most auto loans in Blythe have terms ranging from 24 months (2 years) to 84 months (7 years) in 12-month intervals. Many borrowers are drawn in by longer terms because they typically have a lower monthly payment. But longer terms are also likely to come with higher interest rates. If you can handle a higher monthly payment, it's smart to choose a shorter term. The Auto Payment Calculator shows what your monthly payments might look like with different interest rates and terms to help you decide what you might be able to afford.
If you have less than stellar credit, improving your score could bring your interest rate down. Use our Guide to Better Credit for Auto Financing to better understand what determines your credit score and how you can quickly bring it up. It may take some effort and time to increase your credit score, but it's worth it to get those lower California car loan rates.
Taking the time to hunt down the right lender can also help you secure a lower rate. While lenders will consider the same information, each one might give you a different interest rate. You need to compare offers and shop around for the best auto loan rate in Blythe, CA — even without a high income or credit score. You shouldn't go with the first offer you receive because a better one might be waiting just around the corner. Plus, some lenders leave room for negotiation, so you can take an offer from one lender to another to see if they're willing to beat the interest rate.
See the Best Auto Loan Rates in Blythe, CA with myAutoloan
myAutoloan is dedicated to helping you find the lowest car loan rates in Blythe, CA no matter your credit score or the type of car you're buying. You can look at up to four loans at once so you can get the right deal. Complete our secure online application, choose the best loan for you, and head to your Blythe dealer to purchase a new ride. Don't wait to apply and check today's lowest interest rates!