Auto Loans in Bellflower (CA)

An automobile is among the biggest assets you own, so it is essential to get the most competitive annual percentage rate available for your credit. We work with a wide network of dealers and lenders, and we specialize in matching you to the dealer that wants your business most. Enjoy the convenience of having a dedicated lending specialist who can answer the questions you have and set up your loan.

New and Used Car Loans in Bellflower

At Golden West Auto Finance, we help customers buy new and used cars both. What follows is a comparison of what it would cost you to finance a car that costs $16,400 new, as it ages from new to three years old.

New Car 1 Year Old Car 2 Year Old Car 3 Year Old Car
Percent of New Price 100% 75% 60% 50%
Price $16,400 $12,300 $9,840 $8,200
Money Down $3,280 $1,230 $984 $820
Interest Rate 5.00% 7.50% 7.50% 7.50%
Term 5 years 4 years 4 years 4 years
Monthly Payment $247.59 $267.66 $214.13 $178.44
Finance Charge $1,735 $1,778 $1,422 $1,185
Overall Cost $18,135 $14,078 $11,262 $9,385

Regardless of whether you are going to go used or new, we would love to help you get financed. Are you ready to get going? Just apply online.

Bad Credit Bellflower Auto Loans

When you’ve got poor credit, bank financing generally isn’t possible. Nobody wants to deal with rejected credit, so it is essential to find a lender or dealer in Bellflower that approves bad credit. Through us, you can contact a vehicle financing expert from a lender or dealer in our network who is willing to get you in the driver’s seat.

A primary element of your credit score is predicated upon your record of payments. That means a car loan, being a major loan, can help you increase your credit. Believe it or not, many people wind up refinancing at a cheaper interest rate after a couple of years of timely payments. You really ought to stick with an economical monthly payment. Typically no more than 5-8% of your monthly income is healthy, or $82 to $131 if you get paid $1,640, the average in Bellflower.

Buy Here Pay Here Auto Loans in Bellflower, CA

Considering BHPH financing on account of bad credit? Usually, there are more attractive options. Such dealers offer financing on site, whereas conventional dealers work with banks and lending companies, and they are more concerned with your income than your credit.

You will see that higher-mileage vehicles are the only ones you can buy, and these Bellflower dealers may make you make payments weekly, at the dealership. Repossession is a common occurrence, and the interest rates are pretty ridiculous, they are so excessive. There is a good reason that these dealerships don’t have an outstanding track record. Let us match you with dealer finance specialist who can put you in the driver’s seat, even if your credit is terrible.

Loan Amounts for Bellflower Residents

Generally, financial institutions review your credit and income to decide the maximum amount they will lend you. To illustrate, take a look at these numbers for the average Bellflower consumer who earns $1,640 a month.

Credit Income Factor Sum
Excellent Credit 10 $16,400
Decent Credit 9 $14,760
Subprime Credit 8 $13,120
Bad Credit 7 $11,480
Horrible Credit 6 $9,840

It’s best if you finance a less costly car than you can afford, in an effort to keep your expenses low.

Auto Loans at $131 a Month

Are you wondering how much car is in your budget? Have a look at the chart below. The interest rates are only approximate, and the figures are derived from an annual income of $19,681, the average in Bellflower. Repayment term is 60 months.

Prime Credit Okay Credit Subprime Credit
Income Per Month $1,640 $1,640 $1,640
Monthly Payment $131 $131 $131
Rate 3.50% 7.00% 11.00%
Payment Period 60 Months 60 Months 60 Months
Car Price $9,015 $8,282 $7,543
Money Down $1,803 $1,656 $1,509
Loan $7,212 $6,626 $6,034
Total Interest $660 $1,246 $1,838
Overall Investment $9,675 $9,528 $9,381