Auto Loans in Compton (CA)

In Compton, you have several options for obtaining a car loan, but only a few companies have improved the experience like we have. We make it easy to apply for financing through our 50-state network of dealers and lenders. Most of the time, we’re able to match our clients with the right lender or dealer in real time.

The Easiest Way to Get a Loan in Compton

  • Assistance from a qualified auto finance specialist.
  • Don’t have to negotiate price and financing all at once.
  • Scheduled time to select your vehicle.
  • Zero down payment frequently available to eligible applicants.

Bad Credit Compton Auto Loans

Maybe you have bad credit on account of such issues as delinquent bills, unemployment, foreclosure, or even bankruptcy? You don’t want to deal with having a new line of credit declined. That’s the reason you’ll want to find a lender or dealer in Compton that is open to low credit scores. Fortunately, we are dedicated to serving consumers with credit problems of all kinds, getting them the loans they need.

Searching for a car that you can finance at a decent rate is extremely important, particularly if your credit isn’t ideal. You might not be capable of financing quite a few of the vehicles for sale. If you apply through us, you can typically discuss the main points of your financing in advance, then choose a date for you to sign and drive. Don’t be persuaded into getting a car which costs more than you feel comfortable with. Don’t forget: strengthening your credit score is most important.

Buy Here Pay Here Auto Loans in Compton, California

For those who have been through bankruptcy or foreclosure, a buy here pay here dealer might sound like the only option. These dealers will finance almost anyone, no matter their credit, but there are issues. In most cases, higher-mileage cars and trucks are the only thing for sale, and dealers may expect you to have a GPS tracking system mounted in your vehicle. Repossession is a common occurrence, and the interest rates are about as high as the law permits. Even worse, these dealers very rarely work with the credit agencies, and that means you could make every single payment punctually without boosting your FICO score.

Loan Amounts for Compton Residents

For the most part, lenders look at your income and credit score to determine the maximum amount they’re willing to let you borrow. We’ve provided a chart that depicts the maximum loans for someone with an income of $1,580 a month, the average in Compton.

Credit Score Income Factor Loan
Good Credit 10 $15,800
Average Credit 9 $14,220
Temporary Bad Credit 8 $12,640
Bad Credit 7 $11,060
Really Bad Credit 6 $9,480

It’s smart to go with a less expensive car than you can afford. This will save income for unexpected expenses.

Auto Loans at $126 a Month

To conclude, the recommended car loan features a down payment of 20%, car payment of 8% of monthly income, and term length of 5 years or less. With an income of $1,580 each month, let’s take a look at how much you could spend given your credit.

Excellent Credit Average Credit Bad Credit
Monthly Income $1,580 $1,580 $1,580
Car Payment $126 $126 $126
Interest Rate 3.50% 7.00% 11.00%
Purchase Price $8,685 $7,979 $7,267
Money Down $1,737 $1,596 $1,453
Interest Paid $636 $1,201 $1,770