Compare New and Used Car Loan Rates in El Cajon, 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 El Cajon 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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What Determines Your Auto Loan Rate in El Cajon, CA?

Many factors influence your California car loan rate, Including your credit score, your income, the amount of the loan, the down payment, the age of the car, and your loan's term (the length of the loan). A high debt-to-income ratio, low credit score, or purchasing an older car from a dealer in El Cajon could result in a higher interest rate. But why is a high interest rate bad? The higher of an interest rate you have, the higher your monthly payment is and the more you spend over your loan’s term. Even a rate one or two percent higher could mean spending hundreds more on interest.

How Do I Get a Lower Car Loan Interest in El Cajon, CA?

Online tools like our Interest Rate Estimator will give you an idea of what your rate might be before having to apply for a car loan in El Cajon, CA. If you've plugged in your information and aren't liking the percentage you see, what can be done to lower it?

The loan term is one aspect you can control. Most El Cajon car loans have terms ranging from 24 months (2 years) to 84 months (7 years) in 12-month intervals. Many borrowers take longer terms because they typically have a lower monthly payment. However, longer terms also tend to come with higher interest rates. If you can handle a higher monthly payment, it's wise to choose a shorter term. The Auto Payment Calculator shows what your monthly payments might look like depending on different interest rates and terms to help you see what you might be able to afford.

If your credit is far from great, improving your score could decrease your interest rate. Our Guide to Better Credit for Auto Financing walks you through what determines your credit score and how you can quickly bring it up. Your credit score will take some effort and time to build, 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 get a lower rate. While lenders will use the same information, each one might give you a different interest rate. It's important to shop around and compare offers to find the best car loan rate in El Cajon, CA — even if you don't have the highest income or best credit. You shouldn't go with the first offer you receive because there could be a better one right around the corner. Keep in mind some lenders will negotiate, so you can take your offer from one lender to another to see if they're willing to give an even lower rate.

See the Best Auto Loan Rates in El Cajon, CA with myAutoloan

myAutoloan wants to help you find the lowest auto loan rates in El Cajon, CA regardless of what type of vehicle you're buying or your credit score. You can look at up to four loans at once so you can find the right deal. Complete our secure online application, select the best loan for you, and head to your El Cajon dealer to purchase a new ride. Don't wait to apply and check today's lowest interest rates!

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