Compare Interest Rates for Car Loans in Folsom, CA

Compare up to four California lenders in minutes with myAutoloan! We want to help you find the best car loan rate for you, whether you're buying a car from a local Folsom dealership or hoping to refinance an existing loan. Apply and see today's lowest rates!

Three things to know…

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 Folsom, CA Auto Loan Rates Determined?

Various factors contribute to your California car loan rate, Including your credit score, your income, the amount of the loan, the car's age, the down payment, and the length of the loan (your loan's term). A high debt-to-income ratio, poor credit score, or choosing an older vehicle at your Folsom dealership could result in a higher interest rate. But why worry about a high interest rate? The higher your interest rate gets, the more you pay each month and the more you spend over the life of your loan. Just one or two percent more could mean spending hundreds more overall.

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

Using tools like our Interest Rate Estimator can help you get an idea of what your rate might be before you complete an application for a car loan in Folsom, CA. If you've filled out your information and are unhappy with the percentage you see, what steps can you take to lower it?

The loan term is one factor you have total control over. Most Folsom car loans are available with terms in 12-month increments between 2 years (24 months) and 7 years (84 months). Many borrowers take 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 payment might be depending on different interest rates and terms to help you see what you can afford.

If your credit is far from great, 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 the steps you can take now to raise it quickly. Your credit score will take some effort and time to build, but it's worth it for those lower California auto loan rates.

Taking some time to find the right lender can also help you secure a lower rate. While lenders will consider the same information, 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 Folsom, CA — even if you don't have the best credit or income. You don't want to choose the first offer you get because a better one might be waiting just around the corner. Plus, some lenders are open to negotiation, so you can take an offer from one lender to the next to see if they'll beat the interest rate.

See the Best Auto Loan Rates in Folsom, CA with myAutoloan

myAutoloan is here to help you get the lowest auto loan rates in Folsom, CA regardless of what type of vehicle you're buying or your credit score. We'll present you with up to four loans at once so you can find the best deal. Fill out our secure online application, select the best loan for you, and head down to a dealer in Folsom to purchase a new ride. Apply now to see today's lowest interest rates!

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