Auto Loans in Bakersfield (CA)

When it comes to getting an auto loan in Bakersfield, few if any companies have refined the experience like us. For years, we’ve been establishing relationships with lenders and dealers across the state of California, and we have specialists approve you for the financing you need. It’s tough to imagine an easier way to arrange the financing required for your new car.

Lending Recommendations for Bakersfield Borrowers

  • Have an income of not less than $1500 monthly.
  • Offer 10 to 20% in cash.
  • Get yourself a co-signer for your loan.

Bakersfield Car Loans for People with Bad Credit

Applicants with a good credit score benefit from low loan rates and great terms, but a lot of us don’t have this luxury. Of course, you don’t want to spend your time struggling to find a bank or dealer in Bakersfield that will work with subprime borrowers. Luckily, we specialize in serving clients who have credit problems of all kinds, helping them secure the loans they need.

A primary part of your credit score is influenced by your payment history, and making payments on your new vehicle can help you in re-establishing your credit.

Believe it or not, after a year or so of making payments in time you may qualify to refinance at a better rate of interest. Don’t stress your finances with an expensive car payment. Typically 5-8% of your monthly income is healthy, or $76 to $121 if you make $1,516, the average in Bakersfield.

Buy Here Pay Here Car Lots in Bakersfield, California

The buy here pay here industry has grown in the years after the economic downturn, mainly because so many consumers’ credit ratings were hit by the down economy. They won’t carry out credit checks, so bad credit ought not be a barrier, but you will end up paying quite a lot for this.

Problems with sort of financing include:

  • Exorbitant Interest
  • Outrageous Down Payments
  • Overpriced Vehicles
  • GPS Tracking Devices

Is strengthening your credit important to you? If so, you should submit your application through us, since BHPH dealers won’t aid you in restoring your credit.

Bakersfield Consumer Profile

  • Income Per Annum: $18,194
  • Monthly Income: $1,516
  • Typical Car Payment: $167
  • Optimal Car Payment: $121 (8% of monthly income)

Have a look at this table, which shows you what price car is within your budget based upon your credit standing, provided an income of $1,516 a month, 5 year loan, and a down payment of 20%.

Exceptional Credit Fair Credit Subprime Credit
Payment Amount $121 $121 $121
Interest Rate 3.50% 7.00% 11.00%
Number of Months 60 60 60
Purchase Price $8,333 $7,656 $6,973
Money Down $1,667 $1,531 $1,395
Loan Amount $6,667 $6,125 $5,578
Interest Paid $610 $1,152 $1,699
Overall Investment $8,943 $8,808 $8,671

Apply Online in 90 Seconds

If your credit score isn’t ideal, don’t fret. We charge no application fees, and you could be cruising the streets of Bakersfield within 24 hours.