Auto Loans in Corona (CA)

There are plenty of ways of securing an auto loan in Corona, but only a few firms have refined the process like we have. We give you the ability to submit your application in real-time. It is difficult to find a more convenient way to secure your auto loan.

Advantages for Corona Applicants

  • No reason to fret about credit acceptance.
  • Superior negotiating leverage.
  • A lot less time wasted at the dealer on the day of purchase.
  • No money down frequently available to qualified consumers.

Bad Credit Corona Auto Loans

Banks and credit unions ordinarily fund loans only for those with good to excellent credit. That is, scores of 700 at least. While a low credit score might make it challenging to buy a new or used car, you have some options. Luckily, we specialize in serving customers all across the credit spectrum, getting them approved for the loans they need.

Discussing your auto loan, not choosing a car or truck, is the first order of business at any dealership that works with bad credit.

To get the lowest rate possible, don’t forget to inquire about the rate quoted by the lender also known as the buy rate. Be sure that your loan payment isn’t more than 10% of your income. For a consumer making the Corona average of $3,765 of income on a monthly basis, that’s $377. The calculation is easy enough. Just divide your monthly income by 10 to determine the upper end of your payment range.

Corona Buy Here Pay Here Financing

Buy here pay here dealers wants you to think that no place but them will finance you, but this typically isn’t the way it is. Dealers like these will approve just about anybody, no matter their credit, but there are negatives. Drawbacks include:

  • Outrageous Finance Fees
  • Outrageous Down Payments
  • Steeply-Priced Autos
  • GPS Tracking Devices

Is boosting your credit one of your goals? If so, you should contact an auto finance specialist through us, as BHPH dealerships will not help you restore your credit.

Securing Funds for a Car in Corona: The Amount You Can Finance

Hoping to find out what size auto loan you’ll be able to secure given your income and credit? The following numbers use an income of $3,765 each month, which is typical for people who live in Corona.

Credit Multiplier Sum
Excellent Credit 10 $37,650
Decent Credit 9 $33,885
Subprime Credit 8 $30,120
Poor Credit 7 $26,355
Horrible Credit 6 $22,590

The amount you can borrow, and the amount is a good idea, are two separate things.

Auto Loans at $301 a Month

Here we have a table revealing what car you can afford with a payment amount of $301, 20% down payment, and 60 month term.

Good Credit Fair Credit Bad Credit
Car Payment $301 $301 $301
Loan Rate 3.50% 7.00% 11.00%
Purchase Price $20,696 $19,014 $17,316
Money Down $4,139 $3,803 $3,463
Note Size $16,557 $15,211 $13,853
Interest Paid $1,515 $2,861 $4,219