How Much Income do you Need for an Auto Loan?

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auto loan income

You may have been dreaming of getting a used or new vehicle for a while. Now that it is Springtime and you’re out enjoying more hours of daylight in sunny Southern California; the weather is perfect for a road trip. After months of prepping, doing your research, and taking test rides, you’ve narrowed down your choices. But you’re still not sure how much income you need for an auto loan. Camino has you covered. We have many auto loan options that can best fit your needs.

According to Kelley Blue Book, the average new car price topped $43,072 in January 2022, following an unprecedented year of price increases. Reduced supply and increased demand are to blame for the sticker shock. A KTLA report on used car sales points out that “used car prices have reached record highs with the average one-to-five-year-old used car costing $34,852 in California.”

What Can You Afford?

For a lot of Southern Californians, a vehicle purchase is considered a big expense, second only to buying a home. Because it’s a significant investment, most people need an auto loan to help finance it.

At Camino, we offer great interest rates and fast, local approval, with a Camino auto loan you’ll enjoy the benefits of a credit union that cares. Camino offers competitive interest rates and up to 125% financing, including tax and license. Your auto loan experts are here to listen and support you to determine how much you can afford. Enjoy personal assistance and fast decisions – the way it should be.

Camino Auto Loans:

  • New & Used Auto and Truck Loans
  • First Time Auto and Truck Loan Program
  • Second Chance Auto and Truck Loan Program
  • Nearly New Auto and Truck Refinancing
  • Lease Buyout Program

Need Camino’s Car Buying Service Help?
In addition to providing you with great loans and interest rates for your auto and truck loans, we can help you find the car you’re looking for with our Car Buying Services.. Forget the insecurity when it comes to buying your next car. Camino is your trusted partner for your vehicle purchase.

Need Help with an Auto Loan? Meet with a Camino Member Advisor Today!

Camino can help you find an auto loan that fits your specific needs. Get prequalified, so you can have more buying power at the dealership. Our loan experts are here to listen and support you. We want our members to find the best option that works for you. Please go online at caminofcu.org, give us a call at 800-835-3400 to speak with one of our Member Advisors, or contact us for more information. We invite you to browse our member benefits to see the advantages of joining us as a member.