Compare Interest Rates for Car Loans in Downey, CA

Apply through myAutoloan and compare up to four California lenders in minutes! We make it easy to find the best auto loan rate, whether you're purchasing from a nearby Downey dealership or refinancing an existing loan. Apply now and see today's lowest rates!

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Today's Interest Rates

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Your Estimated Rate

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Your Payment

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More Information

How Are Downey, CA Auto Loan Rates Determined?

A handful of factors impact your California car loan rate, including your credit score, the amount of the loan, your income, the age of the car, the down payment, and your loan's term (the length of the loan). A high debt-to-income ratio, poor credit score, or choosing an older vehicle at your Downey dealership could lead to a higher interest rate. But why worry about a high interest rate? The higher your interest rate gets, the higher your monthly payment becomes and the more you spend over your loan’s term. A difference of just one or two percent could mean spending hundreds more overall.

Is There a Way to Lower My Downey Car Loan Rate?

Using tools like our Interest Rate Estimator can help you get a feel for what your rate could be before you start applying for auto loans in Downey, CA. If you've filled out your information and aren't liking the percentage you see, what can be done to lower it?

The loan term is one factor you have a lot of control over. Most Downey car loans are available with terms in 12-month increments between 2 years (24 months) and 7 years (84 months). Longer terms attract many borrowers because the monthly payment is usually lower. However, longer terms also tend to come with higher interest rates. If your budget allows for a higher monthly payment, it's better to choose a shorter term. The Auto Payment Calculator estimates what your monthly payment could be with different interest rates and terms to help you figure out what might be affordable.

If your credit is far from great, increasing your score could bring your interest rate down. Our Guide to Better Credit for Auto Financing will help you understand what goes into a credit score and which steps you can take to bring it up fast. Your credit score will take some effort and time to build, but it's all worth it for getting those lower auto loan rates in California.

Putting effort into finding the right lender can also help you get a lower rate. While lenders take the same information into consideration, you'll likely receive a different interest rate from each one. Shopping around and comparing offers will help you find the best auto loan rate in Downey, CA — even without a high income or credit score. You don't want to go with the first offer you receive because there might be a better one just around the corner. Plus, some lenders will negotiate, so you can take an offer from one lender to the next to see if they'll beat the interest rate.

Discover the Best Auto Loan Rates in Downey, CA with myAutoloan

myAutoloan is here to help you get the lowest auto loan rates in Downey, CA regardless of what type of vehicle you're buying or your credit score. You can see up to four loans at once so you can find the perfect loan. Simply complete our secure online application, select the best loan for you, and purchase a new ride from your {City}} dealer. Apply now to check today's lowest interest rates!

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