Auto Loans in Hayward (CA)

Have you thought about getting pre-approved for financing? You ought to, as it often translates to a more affordable annual percentage rate and significantly better terms. We serve clients in Hayward and all over the state of California who would like to line up their financing on the web. It truly is hard to envision a more convenient way to obtain the financing you need.

Why Pre-Arrange Your Loan?

  • Less stress and fear of credit denial.
  • No need to discuss price and financing at the same time.
  • Scheduled appointment to select your vehicle.
  • Any and all credit levels financed.

Hayward Car Loans for Bad Credit

A bad credit score is not without consequences, which generally include:

  • Steeper loan rates.
  • Bigger down payments.
  • Shorter lending terms.

Here is the good news: there are loan providers and dealers in Hayward that say yes to people who have credit problems. We can help. At Golden West Auto Finance, we serve customers with credit problems of all kinds, getting them the loans they need.

Don’t forget that financing a car can improve your credit score in broad strokes. Having said that, if you miss a payment, it can hurt your score significantly.

Designate 8% of your monthly income, that’s it, for your auto loan. If you reside in Hayward and, like the average resident, make $3,586 per month, this is $287.

Hayward Buy Here Pay Here Dealers

For people who have serious credit problems stemming from bankruptcy or foreclosure, buy here pay here financing may well seem like a smart move. Typically, dealer finance is indirect, in that car dealers go through banks and lenders with whom they have relationships to provide the loans, but buy here pay here dealers handle everything on site. They determine who gets financed on site, usually without any credit check. Most often, preowned vehicles are the only ones you can buy, and these aren’t zero down cars. Usually, the down payment is as much as the vehicle’s value on the wholesale market, and you could wind up paying thousands in interest through inflated rates. That isn’t all: these dealers seldom report to the credit reporting agencies, and that means you could make every single payment in a timely manner without any lift in your FICO score.

Hayward Consumer Profile

  • Yearly Income: $43,036
  • Monthly Income: $3,586
  • Ideal Monthly Payment: $287 (8% of monthly income)

Auto Loan Budgeting in Hayward

Have a look at this chart, which shows what price car is within your budget based upon your credit score, with an income of $3,586 each month, 5 year repayment, and 20% down.

Exceptional Credit Decent Credit Bad Credit
Car Payment $287 $287 $287
APR 3.50% 7.00% 11.00%
Months 60 60 60
Purchase Price $19,712 $18,110 $16,493
Money Down $3,942 $3,622 $3,299
Loan $15,770 $14,488 $13,194
Total Interest $1,443 $2,725 $4,018
Overall Investment $21,155 $20,835 $20,511