Finance

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Auto Loan Financing in Oakland

At One Toyota of Oakland, we love helping customers drive away in a new Toyota or quality pre-owned vehicle. A big part of that happens by working our magic and helping shoppers with auto financing, loans, and monthly plans! The finance team at our Oakland location is very knowledgeable and has great relationships with local and national lenders. We'll go the distance to ensure you can get around Hayward and beyond with a car, truck, or SUV that you love.

Below we go over auto loan financing, leasing options, and used car financing, all to help you find the best path forward to driving away in your dream Toyota model.

Auto Loan Financing and Leasing

When considering financing options, you can choose to buy or lease a new vehicle or buy a used vehicle. Your personal driving habits, budget, and preferences are what help decide which option is best for you.

Benefits of leasing:

• Only a three-year commitment
• Lower monthly payment than if you were to buy new, which is good if you live in pricey San Francisco
• You get to stay up to date with the newest technologies and model designs.
• It's ideal for low-mileage drivers who travel fewer than 12,000 miles a year.

Benefits of buying:

• You can customize your vehicle however you want
• There are no restrictions on how much you can drive between Berkeley and the Bay Area and all around.
• You have a higher monthly payment, but once it's paid off, you're financially free!
• You can sell your vehicle whenever you want or bring it to us for a trade-in.
• You can play with our online calculator to get an idea of your budget. We also encourage you to fill out our online finance application. It's quick, safe, secure, and it'll tell you how much you're eligible for. It also saves time when you come into our dealership for a test drive!

Whether you're leaning towards auto loan financing or leasing, don't hesitate to reach out to our team to ask any questions you might still have.

Used Car Financing

Interested in financing a used car? Getting a loan for a pre-owned vehicle can be a great way to stay within your budget. To keep your monthly payments low, consider how long you want your loan to last when financing a used car. Used car loans usually have terms between 60 and 72 months, giving you flexible options that can fit your financial needs. While these are just estimates, contact your team to get more information on used car financing.

Choosing Between New and Used Cars

Most of our customers take out an auto loan to buy a new or used vehicle. As we mentioned earlier, we can partner with local lenders (like banks in the Bay Area) or Toyota Financial Services. We'll work hard to find you the best rate, and if you have a long and solid credit history with no issues, then it's possible to get competitive interest rates. 

At the same time, we're also well-versed in working with shoppers who have poor credit scores or serious dings but are still looking for new or used car finance options. If that sounds like you, don't worry. We'll do what we can to get you into a vehicle!

When deciding between a new or used car, it's important to consider the advantages and disadvantages of each option.

New Cars

• Pros: They offer the latest features, improved fuel efficiency, and come with comprehensive warranty coverage.
• Cons: However, new cars often have a higher price tag and can depreciate quickly.

Used Cars

• Pros: Used cars are generally more affordable, maintain their value better, and pose a lower risk of negative equity.
• Cons: While used car finance rates may be slightly higher for used cars, and older models may need more maintenance, they can provide significant savings and long-term value.
• Weighing these factors will help you make the best choice for your needs and budget.

Trade-In Your Current Vehicle

If you already have a vehicle you're looking to get out of before you get into your next vehicle, a trade-in can lower your costs, including your monthly payment. To get an idea of how much your vehicle is worth, check out our Value Your Trade tool! Ours is powered by the reputable Kelley Blue Book, and just like the financing app, it's fast and easy. You'll get a cash or trade-in offer that you can bring to us within 3 business days, and because KBB is a leader, the number you get is one you can trust.

Explore Auto Loan Financing & Used Car Finance Options at One Toyota of Oakland

We understand that buying, leasing, or financing a used car is a big commitment, but at One Toyota of Oakland, we don't want it to be a scary one. If you still have questions about the financing process, don't hesitate to reach out to our sales team. We cannot wait to meet you and get the shopping process started.