Auto Loans in Fallbrook (CA)

When it comes to financing a car in Fallbrook, few if any firms have improved the process like us. Our company helps consumers in Fallbrook each and every day who want to line up their auto loans long before they visit the dealer. Enjoy the convenience of working with a dedicated finance specialist to answer the questions you have and line up your loan.

Credit Approval for Fallbrook Applicants

  • You need to make a minimum of $325 per week.
  • Offer at least 10% of the purchase price in advance.
  • Finance for 5 years or shorter.

Fallbrook Bad Credit Car Loans

Most auto loan companies assess your credit based on your auto industry credit score. This score draws on your history with auto loans or leases. A lot of consumers end up going to a buy here pay here dealer in Fallbrook, on account of low credit scores, but this is seldom the case. Fortunately, we are dedicated to serving customers at every point on the credit spectrum, getting them approved for the loans they need.

As you may know, a car loan, if paid as agreed, can raise your credit score over time.

Believe it or not, you may be able to refinance your car or truck after your score has gone up to a new tier. Determining the ideal payment amount is critical. As an example, let’s pretend you earn $2,054 per month, the average for Fallbrook residents.

  • 5% of Income: $103 (Ideal)
  • 8% of Income: $164 (Okay)
  • 10% of Income: $205 (Maximum)

Buy Here Pay Here Car Lots in Fallbrook, CA

The BHPH industry hopes you think that you can’t get approved anyplace else, yet this is very rarely the case. They may not perform credit assessments, which means bad credit shouldn’t be a hindrance, but you will really pay for this in the end.

Unfortunately, you will be faced with exorbitant loan rates, massive down payments, and high mileage vehicles that are steeply-priced. Worse, these dealerships don’t report to the credit reporting agencies, so you could make each and every payment in a timely manner without helping your FICO score.

Fallbrook Income and Finances

  • Income Per Year: $24,642
  • Monthly Income: $2,054
  • Optimal Car Payment: $164 (8% of monthly income)

Take a look at this chart demonstrating what car you can afford with a payment of $164, 20% down payment, and 60 month term.

Exceptional Credit Average Credit Poor Credit
Payment Amount $164 $164 $164
Rate 3.50% 7.00% 11.00%
Vehicle Price $11,291 $10,373 $9,447
Down Payment $2,258 $2,075 $1,889
Interest Paid $827 $1,561 $2,302
Total with Interest $12,117 $11,934 $11,749