Auto Loans in Cotati (CA)

In Cotati, you have several options for getting a car loan, but not many firms have optimized credit approval like ours has. We give you the ability to submit your application through our system. We match you with a credit professional who will help you through the process.

Credit Acceptance for Cotati Car Buyers

  • Have an income of no less than $325 weekly.
  • Have a down payment of 10% or higher.
  • File a dispute for any inaccuracies on your credit history.
  • Buy a car or truck costing no more than six times your monthly income.

Bad Credit Cotati Car Loans

Banks and credit unions ordinarily only finance those with scores of 700 or better. There’s good news, however: there are finance companies and dealerships in Cotati that have experience serving people with bad credit. When you submit your application through Golden West Auto Finance, our team works to find you a dealer or lender within driving distance who is ready to fund your loan.

Here is some good news: a car loan, if paid as agreed, can improve your credit score in as little as a year. As a means to avert missed payments, most banks and lenders make it easy to automate the payment process. Selecting an appropriate payment amount is critical. To illustrate, suppose you have an income of $2,172 per month, the average for Cotati residents.

  • Low Payment: $109 (5%)
  • Intermediate Payment: $174 (8%)
  • Max Payment: $217 (10%)

Cotati Buy Here Pay Here Car Lots

In house financing, otherwise referred to as buy here pay here financing, has boomed in the years after the recession, largely due to the fact that so many consumers’ credit scores took hits on account of the economic crisis. Nearly all dealer finance is outsourced, in that car dealers go through banks and lenders with whom they have relationships to provide the loans. By contrast, BHPH dealers engage in direct lending. They are the actual source of the loans. Customarily, higher-mileage cars and trucks are the only ones available, and these aren’t zero down car deals. Quite often, the down payment is the same as the vehicle’s wholesale value, and lending rates that flirt with the California’s maximum legal limit aren’t out of the ordinary. This is why these car dealers don’t have a good reputation. We want to match you with a reputable dealer who can put you in the driver’s seat, even if you’ve had to file bankruptcy.

Getting a Loan for a Car in Cotati: Loan Amounts

The better your credit, the more you can finance, which also applies to your income. We’ve provided a table that depicts loan amounts for Cotati residents with an income of $2,172 a month, the average in Cotati.

Credit Income Factor Amount Borrowed
Great Credit 10 $21,720
Average Credit 9 $19,548
Slow Credit 8 $17,376
Poor Credit 7 $15,204
Horrible Credit 6 $13,032

The amount you can borrow, and the amount you really ought to, are two separate things. Are you wondering how much car is within your budget? Have a look at the chart below, but keep in mind that the rates of interest are only estimations, and the numbers are based on an annual income of $26,062, the Cotati average. Loan length is 60 months.

Excellent Credit Decent Credit Subprime Credit
Monthly Income $2,172 $2,172 $2,172
Car Payment $174 $174 $174
APR 3.50% 7.00% 11.00%
Car Price $11,939 $10,969 $9,990
Money Down $2,388 $2,194 $1,998
Total Interest $874 $1,650 $2,434
Overall Investment $12,813 $12,619 $12,424