Auto Loans in Garden Grove (CA)

Looking to buy a new or used car or truck? If you are like the majority of people in Garden Grove, chances are you are going to need an auto loan. We give you the ability to apply for financing through our 50-state network of dealers and lenders. We put you in touch with a credit professional whose mission it is to get you approved for the car you want.

New and Used Car Financing in Garden Grove

Have you considered which kind of car or truck you want, and whether you want it new or used? Here we have an analysis of what it costs to finance a $29,280 car as it ages from new to 3 years old.

New Car 1 Year Old Car 2 Year Old Car 3 Year Old Car
Retail Price $29,280 $21,960 $17,568 $14,640
Money Down $5,856 $2,196 $1,757 $1,464
Interest Rate 5.00% 7.50% 7.50% 7.50%
Term 5 years 4 years 4 years 4 years
Monthly Payment $442.04 $477.87 $382.30 $318.58
Total Interest $3,098 $3,174 $2,539 $2,116
Total Cost $32,378 $25,134 $20,107 $16,756

You don’t have to decide now. Just submit your application, and speak with a vehicle finance professional about your options.

Bad Credit Garden Grove Car Loans

If you have great credit, you will likely benefit from very low interest rates and advantageous terms. Unfortunately, many individuals don’t have this privilege. Clearly, you don’t want to spend your time searching for a bank or finance company in Garden Grove that works with subprime borrowers. Through us, you can contact an auto lending professional from a dealer or lender in Garden Grove who is ready to accept you as a client.

Is Your Credit Report Accurate?

If you want to minimize your APR rate, remember to inspect your credit report for errors.

You’ll want to look at your credit history at least once per annum. If you don’t, lingering mistakes could lead to higher rates, smaller sized loans, and less chance for being approved.

Garden Grove Buy Here Pay Here Dealerships

Buy here pay here dealers typically deal with people who have serious credit problems like:

  • Bankruptcy
  • Foreclosure
  • Auto Repossession
  • Debt Settlement
  • Tax Liens
  • Collections
  • Judgments
  • Charge-offs

They may not perform credit checks, meaning bad credit shouldn’t be a barrier to getting approved, but you really pay for this over the long haul.

Unfortunately, you will be faced with exorbitant annual percentage rates, expensive down payments, and cars and trucks that cost too much given the kind of shape they’re in. And if that weren’t enough of an issue, these dealers almost never report to the credit agencies, which means you could make each and every payment on a monthly basis without boosting your FICO score.

Garden Grove Consumer Profile

  • Yearly Income: $35,137
  • Monthly Income: $2,928
  • Ideal Monthly Payment: $234 (8% of monthly income)

The amount you can pay for your new car is based on a wide variety of factors. The estimations in the table below derive from a monthly payment of $234, which is 8% of the average consumer’s monthly income in Garden Grove, as well as a 20% down payment and 5-year repayment terms. Rates of interest are simply estimations.

Great Credit Okay Credit Bad Credit
Car Payment $234 $234 $234
APR 3.50% 7.00% 11.00%
Months 60 60 60
Car Price $16,095 $14,787 $13,467
Down Payment $3,219 $2,957 $2,693
Note Size $12,876 $11,830 $10,773
Total Interest $1,178 $2,225 $3,281
Total Paid $17,273 $17,012 $16,748

Talk to a Vehicle Finance Professional Today

If you have a low credit score, don’t worry. A finance specialist will take you step-by-step through the process, helping you get approved at a reasonable rate.