Oregon Auto Loans

There are about 4 million registered vehicles in Oregon, and about 2.7 million licensed drivers. It's not the little state in the Northwest anymore; Portland has exploded with high tech and biotech businesses. That means an influx of well paid talent and young people, which in turn means a variety of auto buying options.

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Auto Lenders & Loan Types in Oregon (OR)

You can find auto loans through a number of sources. Here are a few recommended lenders:

• Union Bank of California is offers loans on new and recent model used cars. Reduced interest rates are available with a 20% down payment.
• Nissan Motor Acceptance Corp. provides loans and lease deals for new cars purchased from Nissan dealers.
• Bank of America finances new and used cars, provides refinancing loans and auto lease loans.
• The Lending Tree will find loans for new cars, used cars, leased cars and refinanced cars.
• Capital One will issue loans for new and used cars and will refinance existing auto loans. They are specialists in finding loans for people with credit problems.

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Financing Car Loans in Oregon (OR)

If you have good credit, take note of the Union Bank offer, especially if you have a down payment in your pocket. If not, ask the dealer to present you with two or three options.

You may want to considering refinancing. Refinancing can allow you to find a better deal, lowering your payments with a reduced interest rate. Another reason to refinance is that a refinanced loan is a paid off loan, and will appear as such on your credit rating.

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Sometimes the rebates and price cuts associated with new car purchases are tied to loan agreements made through the dealership. You can take advantage of rebates by buying the car through a dealership, and then refinancing at a lower rate. If you're considering refinancing, be sure the new loan doesn't have fees and surcharges that absorb whatever savings you might realize through a lower interest rate.

Oregon State Auto Loan Information

For information on state loan requirements and auto details, check with Oregon's Department of Consumer and Business Services and the DMV:

Department of Consumer & Business Services
Division of Finance and Corporate Securities
350 Winter St. NE, Rm. 410
Salem, OR 97301-3881

Department of Motor Vehicles
1905 Lana Ave NE
Salem, OR 97314

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