Best Car Loans in California of October 2024
While it is essential to understand the best practices and regulations for car loans in California, it is equally important to identify the best lenders who specialize in this type of loan. Car loans are handy for those who need quick cash and are willing to use their vehicles as collateral. Most importantly, car loans don’t do credit checks, so anyone can qualify for one.
You can utilize a car loan to purchase a brand-new or previously-owned vehicle, terminate a car lease, or refinance existing auto loans. However, not every bank or credit union will work with borrowers with low credit scores or offer subprime auto loans.
To help you find the best car loans in California for 2024, we have compiled a comprehensive list of lenders offering competitive rates. We’ve researched each lender thoroughly to ensure they meet our financial stability and trustworthiness standards.
We only recommend legit lenders that operate with best practices in mind. We also recommend lenders who offer competitive interest rates, flexible terms and conditions, easy application processes, and quick funding options.
Our Marketplace
ElitePersonalFinance has the largest financial marketplace for car loans in California. It is the best place to compare and find the best loan for you, regardless of your credit score or financial history.
ElitePersonalFinance partners with reliable lenders who provide competitive rates and flexible repayment options.
Whether you have good or bad credit, ElitePersonalFinance will find you the best loan rates and best-suited lenders. All of its partners are vetted to make sure they follow best practices in lending and adhere to the rules and regulations set by California.
Why Trust Our Guides?
We scrutinize over 100 lenders before making a recommendation. We consider customer reviews, the loan terms each lender offers, and other factors like fees and repayment periods. Our team of experts has done their best to ensure you get the best car loans in California for 2024.
We know that getting a car loan can be overwhelming with all the different lenders in the market. That’s why we take the time to weigh all the best deals and options for you. Our team of experienced editors has done their best to provide comprehensive and unbiased reviews so that you make an informed decision.
In addition, our rankings consider customer experience and loan terms, like interest rates and repayment periods. We also ensure our lenders comply with California’s best practices and regulations.
Best Car Loans in California October 2024: Key Findings
CA’s best car loans offer loans between $2,500 and $150,000, with APR rates ranging between 0% and 243.36%. The best loans have flexible repayment periods of up to 85 months.
In addition, the best lenders require a minimum credit score of 560 or higher. Nonetheless, most of these lenders haven’t disclosed their exact credit score requirements.
To qualify for the best car loans in California 2024 for new car purchases or refinancing, you should be 18+ years, have a valid driver’s license and proof of income.
Additionally, you must have documentation of the vehicle’s registration, a clear car with no liens, and a valid auto insurance policy.
Best Car Loans in California of October 2024
| Lender: | Loan Amount: | APR: | Term | Min. Credit Score: | Best For: |
|---|---|---|---|---|---|
| Super Money | $2,500 – $100,000 | 0% – 243.36% | 12 – 84 months | 0 | Comparing different lenders |
| Capital One | Starting at $4,000 | Starting at 2.99% | Up to 7 Years | 560 | Borrowers buying through Capital One Auto-Navigator |
| Bank of America | $7,500 – $150,000 | Starting at 4,24% | Up to 60 months | Undisclosed | Bank of America’s reward members |
| Lightstream | $5,000 – $100,000 | 5.99% – 24.49% | 24 – 144 months | 660 | Used car purchase loan |
| Pentagon Federal Credit Union | $500 -$150,000 | 5.64-11.34% | 36 – 84 months | 550 | Low rates |
| Loan Center | $2,000 – $50,000 | 35.50% – 199.99% | Up to 48 months | Undisclosed | Smaller car loans |
| SouthBay Credit Union | Starting at $2,501+ | 4.49% – 8.99% | Up to 85+ months | Undisclosed | Low fees |
SuperMoney
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| Loan Amount: | $2,500 – $100,000 |
| APR: | 0% – 243.36% |
| Min. Credit Score: | 0 |
| Approval: | Same day |
| Terms: | 12 – 84 months |
| Fees: |
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| Qualification Criteria: |
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| Average Borrower Profile: |
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| Best For: | Comparing various lenders |
| CHECK RATES | |
Super Money is one of the best car loan lenders in CA for both good and bad credit because the lender compares different loan products from various lenders.
Their online portal allows you to fill out your information and get personalized offers from banks and lenders that best match your needs.
SuperMoney also has a wide range of loan amounts, from $2,500 to $100,000. They offer competitive rates with terms ranging from 12 – 84 months.
They are best for borrowers with bad, fair, good, or excellent credit who want to compare the best loan products available in California.
The lender charges origination fees between $100 and $500 and late payment fees between $5 and $50. Most lenders don’t charge prepayment fees, but some may have ongoing maintenance fees.
To qualify for the best car loans with Super Money, you must meet the qualifications listed, including having a maximum D-T-I ratio of 50%, an annual income of not less than $24,000, and three open credit lines.
The best loan option will depend on your situation, so do your research and compare loan offers before applying.
Pros:
- Compare different loan products from various lenders.
- Wide loan amounts between $2,500 and $100,000.
- Competitive rates with terms from 12 to 84 months.
- No prepayment fees for most lenders.
Cons:
- Origination fees range between $100 and $500.
- Late payment fees range between $5 and $50.
- Some ongoing maintenance fees may apply depending on the lender.
The Impact of Covid-19:
Borrowers impacted by the Covid-19 pandemic can turn to SuperMoney for a number of different financial aid programs. There are programs to help with loan payments, forbearance and deferment, and counselling for free financial difficulties. Feel free to contact SuperMoney for any further assistance you may require.