In Hawaii, car loans have become more difficult to obtain. Here at Car Loans Hawaii, it’s our mission to help you get behind the wheel at lower rates. What’s even better, our service is free.
This is how it works.
- Firstly, you want to submit your application online.
- We match you, if possible, with the ideal auto loan provider in Hawaii, given your needs.
- Finalize your car loan documents and pick out your vehicle from a nearby car dealership.
Click the link to submit your secure application.
HI Credit Scores and Income
In Hawaii, the average income per month is $3,289, while the average credit rating is 688. The stronger your fico score, the better your loan rates.
Nearly all Hawaii auto loan providers require that you earn no less than $1500 income a month. At the same time, your total monthly debt, including your new loan, must not be more than 50% of your wages. In Hawaii, this rounds out to $1,645, on average. Even if your income doesn’t satisfy these requirements, you may be able to meet the requirements with a co-buyer, more money down, or via buy here pay here financing in Hawaii.
Putting money down is important. After all, many loan companies will require that you do so. Divide the cost of your preferred vehicle by 5. This is a solid down payment, but it might be possible to meet the minimum requirements with a down payment of half that much, if not less. We also have some zero down payment car lots in Hawaii.
The other thing to consider is your installment payments. Don’t devote over 18-20% of your income for your Hawaii car loan. Let’s consider numbers for the average Hawaii consumer.
- $39,466: Income (Yearly)
- $3,289: Income (Per Month)
- $592 to $658: Car Payment
Low credit score? Read more about Hawaii bad credit auto loans.