Compare New and Used Car Loan Rates in Santa Monica, 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 Santa Monica 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 Car Loan Rates in Santa Monica, CA Calculated?

Various factors influence 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 poor credit score, low income, or buying an older vehicle from a dealer in Santa Monica could lead to a higher interest rate. But is a high interest rate so bad? The higher of an interest rate you have, the higher your monthly bill is and the more you spend in total. Even a rate one or two percent higher could mean spending hundreds more overall.

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

Online tools like our Interest Rate Estimator will give you a feel for what your rate might look like before you complete an application for a car loan in Santa Monica, CA. If you've plugged in your information and aren't happy with the percentage you see, what steps can you take to lower it?

The loan term is one factor you can change on your own. Most Santa Monica car loans are available with terms in 12-month increments between 2 years (24 months) and 7 years (84 months). Longer terms will tempt many borrowers because they usually have a lower monthly payment. But longer terms are also likely to come with higher interest rates. If you can afford a higher monthly payment, choosing a shorter term is a good move. The Auto Payment Calculator shows your possible monthly payment with different interest rates and terms to help you see what might work for your budget.

If you have less than stellar credit, raising your score could help lower your interest rate. Our Guide to Better Credit for Auto Financing walks you through what determines your credit score and which steps you can take to bring it up fast. It may take some time and work to better your credit score, but it's worth it to get those lower California car loan rates.

Taking some time to find the right lender can also help you get a lower rate. While lenders will look at 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 Santa Monica, 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 might be a better one just around the corner. Don't forget 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.

Discover the Best Auto Loan Rates in Santa Monica, CA with myAutoloan

myAutoloan is dedicated to helping you find the lowest car loan rates in Santa Monica, CA no matter what type of car you're buying or your credit score. 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 purchase a new ride from your {City}} dealer. Apply today to see the current lowest interest rates!

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