My Car Lender

Home / Finance / California Auto Finance / Oakland (CA) Auto Loans


For the majority of people in Oakland, a loan is required to purchase any new or used vehicle. Unfortunately, arranging a car loan can be a daunting process, robbing all the fun from buying a car. If you need to secure the least expensive rate of interest possible, we can help.

You could be behind the wheel of a new car in no time flat.

Auto Loan Rates in Oakland

These interest rates are only for informational purposes. They aren’t advertisements. Exact rates differ.

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%

Make sure you know what your credit score is. Many loan providers use an automotive-specific credit score unavailable to consumers, but it’s easy to check your credit scores.

Used Car Financing in Oakland

As consumers, we’re under continuous barrage by advertising for new cars and trucks. Mind you, it is smart to finance a pre-owned vehicle, since the sum total will be substantially less. Check out the comparison below.

Age Price APR Months Payment Interest Total Cost
New $28,600 6.00% 60 $552.92 $4,575 $33,175
1 Year $22,880 7.50% 60 $458.47 $4,628 $27,508
2 Years $19,448 7.50% 60 $389.70 $3,934 $23,382
3 Years $16,531 7.50% 60 $331.24 $3,344 $19,875

In only one full year of driving, the $28,600 new car is worth only $22,880, and only $16,531 after 36 months. Let’s consider the typical restrictions on used vehicle financing:

  • Car not more than 7-10 years old.
  • Mileage no greater than 100,000.
  • Purchased from dealer, not private party.

Bad Credit Car Loans in Oakland

Your credit score is the very first thing loan providers review when determining whether to approve you financing. It’s a well-known fact: the higher your credit score is, the lower your interest rate will be. Fortunately, we know of loan providers who serve individuals with unfavorable credit ratings.


Many consumers end up resorting to buy here pay here dealerships in Oakland that don’t check a buyer’s credit. No credit checks come at a price: excessively high interest rates, stringent terms, and overpriced vehicles. You will be better off getting financed by a traditional bank or credit union. There are lots of benefits: cheaper rates, better service, and if you make your payments on schedule, a boost to your FICO score.

Best of all, you can submit your application online.

Can a Car Loan Improve Your Credit?

With time, the payments made on an auto loan can bump up your credit score . Buy here pay here car dealers rarely ever report to the credit reporting agencies, so your credit score will not go up. Even though the actual improvement in your credit score isn’t easy to estimate, the improvement is substantial.

Oakland Resources

Credit Unions


[tboot_column size=”15″]

[tboot_table strip=”yes” border=”yes” hover=”yes” cols=”Credit Union,Address,Zip,Telephone” data=”1St United Services,1225 Fallon St,94612,(800) 649-0193,1St United Services,5112 Broadway,94618,(800) 649-0193,Chevron,P.O. BOX 2069,94604,(800) 232-8101,Chevron,475 14th St 9th FL,94612,(800) 232-8101,East Bay Postal,PO Box 2398,94614,(510) 568-7150,East Bay Postal,480 Roland Way,94621,(510) 568-7150,Hanin,2633 Telegraph Ave,94612,(510) 663-2633,Ilwu – Fsc,237 Fallon St,94607,(510) 451-1600,Matson Employees,555 12th St,94607,(510) 628-4358,Patelco,1301 Clay St #270n,94612,(510) 622-8360,Patelco,1200 Clay St #130,94612,(510) 302-2820,Patelco,360 22nd St,94612,(510) 817-5000,Provident,8301 Edgewater Dr,94621,(510) 632-4847,Safeamerica,1939 Harrison St #100,94612,(510) 251-2403,Sea West Coast Guard,P. O. BOX 4949,94605,(510) 568-4100,Self-Help,1432 7th St,94607,(510) 267-0450,Taylor Memorial United Methodist,1188 12th St,94607,(510) 465-1734,Utility District,375 11th St #203,94607,(510) 287-0467,Western,433 Hegenberger Rd,94621,(877) 254-9328,Western,150 Frank H Ogawa Plaza,94612,(877) 254-9328″][/tboot_table]