Auto Loans in Fontana (CA)

Several years ago, you had to go to a slew of lenders, looking for one who will approve your application. Here at Golden West Auto Finance, we have simplified the process. We work with a vast network of lenders and dealers, and we have finance professionals standing by, expecting your application. We match you with a lending expert who can help you arrange the car loan needed for the car you prefer.

Auto Loans in Fontana for New Vehicles

New cars obviously aren’t the least expensive option, and they depreciate at an astounding rate. Therefore they are a good fit for people who can are a certain type of borrower.

  • You don’t plan on swapping out the car before it is paid off.
  • You’ll be able to offer no less than 20% of the price upfront.
  • You are willing to deal with negative equity .

If you can’t meet these guidelines, you should probably consider a used vehicle.

Financing a Preowned Car in Fontana

A preowned vehicle is the best approach for the cost-conscious consumer. Some consumers disregard used vehicles for having steeper annual percentage rates, but bear in mind that they still don’t cost as much up front and in the long run. Consider, though, that there are vehicle limitations which vary among lenders, but typical guidelines are the following:

  • Miles: at most 70,000 to 100,000 miles.
  • Age: less than 7 years old.

Most of the time, a used car is the better value.

Considerations for People in Fontana with Bad Credit

For people with poor credit, getting your car loan signed off by a bank usually isn’t possible. Even though non-prime credit could make it tricky to buy the car you want, you’re not without options. The good news is, we are dedicated to serving clients on every end of the credit spectrum, getting them the loans they need.

Should Your Credit Score Be Higher?

Inaccuracies on credit reports are getting to be pretty prevalent. Have you ensured that your credit report is free of errors?

Be sure you pull your credit report a minimum of one time yearly. Neglecting to do so could contribute to higher rates, smaller sized loans, and less chance of approval.

Fontana Buy Here Pay Here Dealers

People in the BHPH industry wants you to think that they’re your only option, yet this is very rarely the case. Nearly all dealer finance is sourced elsewhere, in that car dealers work with off-site banks and lenders to provide the loans. By contrast, BHPH dealers don’t. They become both the lender and the dealer.. Downsides include inflated rates, down payments, and vehicle prices There is a good reason why these dealers don’t have a good track record. We want to match you with subprime finance specialist who can get you approved, even if your credit is dreadful.

Purchasing a Vehicle in Fontana: How Much You Can Borrow

The maximum loan you can obtain will depend on the amount of money you earn, and how good your credit score is. Take a look at these amounts based off of an income of $2,387 a month, the average in Fontana.

Credit Rating Multiplier Loan
Good Credit 10 $23,870
Average Credit 9 $21,483
Temporary Bad Credit 8 $19,096
Bad Credit 7 $16,709
Terrible Credit 6 $14,322

It’s best if you finance a cheaper car than necessary, just to keep space in your budget for other things.

Financing a Car with $191 Monthly Payment

Below we have a chart showing what car can be afforded with a payment per month of $191, 20% down payment, and 60 month term.

Good Credit Fair Credit Subprime Credit
Monthly Installment $191 $191 $191
APR 3.50% 7.00% 11.00%
Purchase Price $13,121 $12,055 $10,979
Money Down $2,624 $2,411 $2,196
Borrowed Funds $10,497 $9,644 $8,783
Interest Paid $961 $1,814 $2,675