Auto Loans Dinuba, CA

How to Secure Auto Loans in Dinuba, CA

Unless you’re among a few fortunate consumers out there, you probably don’t have the disposable income to pay cash for a car. If you’re like most people, when you need to purchase a new car, you’ll seek some financial help. Dealerships and financial institutions are ready and willing to lend money to the right buyers to help them get into the cars they want. If you’re worried about qualifying for auto loans in Dinuba, CA, or if lenders have denied your applications in the past, it’s helpful to learn some basic tips for getting the funding you need. 

Have a Steady Job

A big part of your loan application in Dinuba, CA, is listing your current employment. If you can demonstrate to the lender that you currently work and have been at the same job for a certain period of time, there’s a better chance you will qualify. When you have steady employment, you show the lender that you have a monthly income and can make your payments. 

Have a Good Credit Score

Auto lenders are a little more lenient than mortgage lenders about credit scores. Still, if you’re in the market for auto loans, you have a much better chance of securing a good loan with a favorable rate if your score is in the range of 700 or above. If your rate is below 500, you may still get a loan, but you will likely have an exceptionally high rate, which means you’ll pay much more than the principal during the life of the loan. Don’t take any chances, and do what you can to improve your credit score. 

Get Someone to Co-sign

If your income and credit score fall short of what the lender requires, you don’t have to give up hope. There are still things you can do to secure a loan for the car you want. Ask a family member or close friend to co-sign with you. When you do this, the lender in Dinuba, CA, or nearby area, will factor in the co-signer’s income and credit score along with yours. This person’s income and score may bolster your chances and push you over the threshold you need to qualify for your loan. 

The finance team at Selma Hyundai has relationships with lenders who provide auto loans. Head to our dealership today and get into the car you need for everyday driving in Dinuba, CA. 

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