Auto Loans in Indio (CA)

In the old days, you had to go from one Indio lender to the next, applying for loans by hand. Here at Golden West Auto Finance, we have made it much easier to secure the auto loan you need. We have access to a diverse network of lenders and dealers, and we are experts in matching you to the lender who suits you best. Let us match you with a finance expert who can help you line up the car loan necessary for the car you want.

Used and New Cars in Indio

Used cars and trucks come with higher rates of interest than new ones, but for frugal buyers, they are the more sensible choice. Here we have a comparison of how much it costs to finance a $20,400 car as it gets older, from new to three years old.

New Car 1 Year Old 2 Years Old 3 Years Old
Percent of Original Price 100% 75% 60% 50%
Retail Price $20,400 $15,300 $12,240 $10,200
Money Down $4,080 $1,530 $1,224 $1,020
Interest Rate 5.00% 7.50% 7.50% 7.50%
Term 60 months 48 months 48 months 48 months
Payment $307.98 $332.94 $266.35 $221.96
Finance Charge $2,159 $2,211 $1,769 $1,474
Total Cost $22,559 $17,511 $14,009 $11,674

Newer vehicles are deemed lower risks, however, so they may be financed more easily if your credit isn’t good.

Bad Credit Car Loans in Indio

Old fashioned lenders like banks and credit unions usually fund loans only for individuals with scores of 700 or higher. With good reason, you don’t want to waste a lot of time looking for a dealer or finance company in Indio that works with lower credit scores. In all likelihood, we can find you a dealer or lender within driving distance who wants to fund your loan.

You want to find a vehicle that suits your auto loan, not the other way around, and your salesperson should be able to help you.

To make certain your application information is valid, you will usually need to verify your income through pay stubs or tax returns, and bring a recent lease or electricity bill with your home address on it. Your dealership salesperson direct you through this process. Avoid being tempted into financing a car that’s more expensive than you budgeted for. It will place you at a higher risk of missing a payment, which is about the very last thing you need..

Buy Here Pay Here Financing in Indio, California

Buy here pay here dealerships hopes you think that you can’t get approved anyplace else. However, this usually isn’t the case. Such dealerships grant car loans directly, as opposed to traditional dealers which utilize separate lenders, and they typically don’t even check your credit.

Unfortunately, you should expect inflated rates of interest, large down payments, and high mileage vehicles that are overpriced. If boosting your credit score is important to you, you are better off applying through us, since buy here pay here car lots can’t help you strengthen your credit.

Indio Consumer Profile

  • Per-Year Income: $24,476
  • Monthly Income: $2,040
  • Suggested Monthly Payment: $102 to $204 (5-10% of monthly income)

Have you wondered how much car you really can afford? Have a look at the estimations below, but keep in mind the interest rates are only approximations, and the numbers are derived from an income of $24,476 per year, the Indio average. Loan length is 5 years.

Excellent Credit Decent Credit Subprime Credit
Car Payment $163 $163 $163
APR 3.50% 7.00% 11.00%
Number of Months 60 60 60
Car Price $11,214 $10,302 $9,383
Down Payment $2,243 $2,060 $1,877
Loan $8,971 $8,242 $7,506
Interest Paid $821 $1,550 $2,286

Ready to Get Financed?

If your credit score isn’t ideal, don’t worry. Apply online, and we’ll get you approved. It’s fast, safe, and there’s no fee.