Auto Loans in Carlsbad (CA)

If you’re looking to buy a new car, there’s a high probability you will need a car loan. We enable you to submit your application through our system. You will enjoy the convenience of having a devoted finance professional who can address your questions and line up your loan.

New versus Pre-owned Cars in Carlsbad

You can get approved for a new or pre-owned auto loan in Carlsbad, but which suits your budget best? Below is a breakdown of the cost to finance a car that costs $18,260 new, as it ages from new to three years old.

New Car 1 Year Old 2 Years Old 3 Years Old
Percent of Original Price 100% 75% 60% 50%
Retail Price $18,260 $13,695 $10,956 $9,130
Money Down $3,652 $1,370 $1,096 $913
Loan Rate 5.00% 7.50% 7.50% 7.50%
Length 5 years 4 years 4 years 4 years
Monthly Installment $275.67 $298.02 $238.41 $198.68
Total Interest $1,932 $1,979 $1,583 $1,320
Total Cost $20,192 $15,674 $12,539 $10,450

You don’t need to decide today. However, if you apply online, you can speak with an auto finance representative about your options.

Financing a Car with Bad Credit in Carlsbad

Banking institutions usually fund loans only for those with very solid credit ratings. That is, scores of 700 or better. There’s good news, however: there are lending companies and dealerships in Carlsbad that finance credit-challenged consumers. This is where we can help. At Golden West Auto Finance, we serve people who have credit problems of all kinds, getting them approved for the loans they need.

Mistakes on credit reports are getting to be quite widespread. Have you made sure your credit report is free from errors?

Every year, you can check your credit at no charge at AnnualCreditReport.com, in accordance with the FACT (Fair and Accurate Credit Transactions) Act, and ensure you receive the APR rate that’s as low as possible.

Buy Here Pay Here Dealers in Carlsbad, California

The buy here pay here industry has grown in the past few years, largely due to the fact that so many people’s credit ratings suffered on account of the down economy. Nearly all dealer financing is sourced elsewhere, as dealers go through various lenders to provide the loans, but BHPH dealers provide loans themselves. More often than not, higher-mileage autos are the only ones available, and these aren’t no down payment car deals. Normally, the down payment is set at what the dealer paid for the vehicle, and you could wind up paying thousands over the long run through excessive rates. Because of this, these dealerships don’t have an outstanding reputation. We want to put you in touch with a reputable dealer who can get you financed, even if you’ve experienced bankruptcy.

Loan Amounts for Carlsbad Residents

As a rule, loan companies review your income and credit score to decide the maximum amount they will let you borrow. The following amounts use an income of $1,826 monthly, which is the average in Carlsbad.

Credit Income Factor Amount
Excellent Credit 10 $18,260
Decent Credit 9 $16,434
Subprime Credit 8 $14,608
Poor Credit 7 $12,782
Very Bad Credit 6 $10,956

In reality, it’s advisable to finance fewer funds than you actually could based on your income and credit. Here we have a chart depicting what car can be afforded with a payment amount of $146, 20% down payment, and 5-year term.

Great Credit Decent Credit Poor Credit
Income Per Month $1,826 $1,826 $1,826
Monthly Payment $146 $146 $146
APR 3.50% 7.00% 11.00%
Number of Months 60 60 60
Vehicle Price $10,038 $9,222 $8,398
Down Payment $2,008 $1,844 $1,680
Total Interest $735 $1,387 $2,046

Ready to Get Moving?

If your credit score isn’t ideal, you may need help getting financed. Our application costs nothing, and you could be pre-approved for financing within 24 hours.