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Auto financing allows you to purchase a car or truck that you would not be able to purchase otherwise. Unfortunately, getting approved for an auto loan can be an infuriating process, making it super challenging to buy the vehicle you want. Typically, it’s better to arrange your finance package ahead of time.

There are specialists who can help you get a loan at a competitive rate.

Auto Loan Rates in El Centro

Here you’ll find rates estimated at different credit tiers. These aren’t to be viewed as advertisements. Your exact interest rate could differ drastically from the rates of interest listed here.

Credit Score New Car Pre-owned Car
Excellent 3.2% 3.7%
Good 4.6% 5.7%
Average 6.5% 8.5%
Subprime 9.4% 10.8%
Bad 14.1% 16.5%
Very Bad 15.6% 18.4%

Used Car Loans in El Centro

Pre-owned vehicles are cheaper, but the loan rates are slightly elevated. Smart buyers, however, typically buy used cars. Have a look at the chart below, illustrating the different costs associated with car loans for new versus used cars and trucks.

Years Old Price Rate Months Payment Interest Total Cost
New $28,750 6.00% 60 $555.82 $4,599 $33,349
1 Year $23,000 7.50% 60 $460.87 $4,652 $27,652
2 Years $19,550 7.50% 60 $391.74 $3,955 $23,505
3 Years $16,618 7.50% 60 $332.98 $3,361 $19,979

Interested in pre-owned car? Here are the most common limits on auto loans for used cars:

  • Vehicle not more than 7-10 years old.
  • Mileage no greater than 100,000 miles.
  • Bought through dealer, not private party.

Poor Credit Car Loans in El Centro

Are you hoping to finance a car from a dealer in El Centro with below-average credit? As a rule, the better your credit, the lower your interest rate. Years ago, there weren’t many loan providers who would provide car loans for people with unfavorable credit ratings. Now many finance companies, not to mention some banks and credit unions, have subprime finance divisions.


Buy here pay herecar lots are a second option. While you shouldn’t have any trouble getting approved, it’ll cost you a lot for the privilege. Almost always, it’s best to go to a regular bank or finance company. The down payments are more affordable, the same as the annual percentage rates, and the service is far better.

Contact an auto finance professional in your area today.

Can a Car Loan Improve Your Credit?

If you need to boost your credit score, a car loan can help–assuming that you pay it off as scheduled. Buy here pay here car dealers never report back to the credit agencies, so your credit score will not improve. Make sure to sign up for automatic payments, as this will stop you from skipping payments.

El Centro Resources

Credit Unions

Credit UnionLocationZip CodePhone
First ImperialP O Box 324792244(760) 352-1540
First Imperial1602 W Main St92243(760) 352-1540
Sun Community1068 Broadway St92243(760) 337-4200