Below are the top 3 auto loan rates available to residents in the state of California. After researching the rate pages of dozens of different banks and credit unions serving people in the state of California we’ve published the auto loan rates with the lowest APR’s as well as those without any sort of hidden fees or “catch(es).” Because interest rates vary depending on the type of car (car/truck/van/etc), condition (new/used/etc) and the term (36 month/48 month/60 month/etc) we decided to list the rates which are beating the national averages by the highest margins.
The products listed below can apply to either new car loans and used car loans. Also, some of the products we’ve listed may only apply to certain categories of loans such as bad credit auto loans, bankruptcy auto loans, auto refinance loans. They may also come with predefined durations such as 36 month new car loan, 48 month new car loan, 60 month new car loan, 72 month new car loan, 36 month used car loan, 48 month used car loan, etc. Make sure you visit the bank or credit union’s websites for further specifics. The information provided below is time-sensitive in nature. Please refer to the date of this article for accuracy.
Top 3 Auto Loan Rates in California:
- Contra Costa Federal Credit Union out of Martina, California is offering a 36 month auto loan for new cars and trucks with an interest rate of 4.50% APR assuming a loan of $25k. They also have boat/RV loans as well as motorcycle loans going for 6.50% APR. Contra Costa FCU is a not-for-profit, member-owned institution. Although they are headquartered in California, they still serve customers in other states. Like most credit unions, this one comes with a fairly strict eligibility checklist. This institution accepts local funds and is a member of the NCUA.
- Bank of America’s National Association has a large variety of new and used auto loans which all come with APR’s of 3.70%. Bank of America is one of the largest banking institutions in the country and is publicly traded under the ticker BAC. BofA is member FDIC.
- Golden One Credit Union has a 36 month used auto loan with an interest rate of 4.99%. G1CU has several locations throughout California and the southwest. They are a member-owned institution as well. They accept local deposits and are federally insured by the NCUA.
If you live in the state of California and know of a local auto loan rate that is better than the ones listed above, please share by leaving a comment.