Auto Loans in Laguna Beach (CA)

In Laguna Beach, you have several options for securing a car loan, but few companies have optimized the experience like we have. Our network of dealers and lending companies is unequalled, and we have finance professionals standing by, waiting for your application. We put you in touch with a credit expert whose job it is to get you approved for the car you want.

Cars Both New and Used in Laguna Beach

Each and every day, we help people finance used and new cars both. As this table demonstrates, pre-owned cars commonly cost less money in the long run, in spite of their greater rates of interest.

New Car 1 Year Old Car 2 Year Old Car 3 Year Old Car
Percent of Original Price 100% 75% 60% 50%
Price $25,760 $19,320 $15,456 $12,880
Owed Upfront $5,152 $1,932 $1,546 $1,288
Loan Rate 5.00% 7.50% 7.50% 7.50%
Length 5 years 4 years 4 years 4 years
Monthly Payment $388.90 $420.42 $336.34 $280.28
Finance Fees $2,726 $2,792 $2,234 $1,862
Overall Cost $28,486 $22,112 $17,690 $14,742

An auto lending professional can help you determine the type of vehicle that suits you. To discuss the options available to you, submit an application.

Bad Credit Laguna Beach Car Loans

Credit scores are critical when purchasing a car. Has yours seen better days? Far too many shoppers wind up going to a buy here pay here car dealership in Laguna Beach, because of bankruptcy or other difficulties, but it is best to avoid these car dealerships. We have the solution. We are known for serving people all across the credit spectrum, helping them secure the loans they need.

Don’t forget, financing a car can increase your credit score and demonstrate to lenders that you have learned from your earlier issues. So as to prevent missed payments, consider having your car payment subtracted straight from your bank account. It’s best not to overburden your finances with a big car payment. Typically 5-8% of your monthly income is advisable, or $129 to $206 if you get paid $2,576, the average in Laguna Beach.

Laguna Beach Buy Here Pay Here Financing

In house financing, better referred to as buy here pay here financing, keeps growing, mainly because so many people’s credit scores took hits on account of the credit crunch and housing bubble. Dealers like these will finance nearly anyone, no matter their credit, but there are drawbacks. In most cases, preowned autos are the only thing for sale, and you may need to have an ignition kill-switch mounted in your vehicle. Rates of repossession are quite high, and so are the interest rates. Worse, these dealerships very rarely work with the credit reporting agencies, so you could make every single payment on time without improving your FICO score.

Laguna Beach Consumer Profile

  • Annual Income: $30,910
  • Income Per Month: $2,576
  • Optimal Monthly Payment: $129 to $258 (5-10% of monthly income)

Check out this chart, which shows what price car you can get financed given your credit score, given an income of $2,576 a month, 5 year repayment, and a down payment of 20%.

Exceptional Credit Okay Credit Subprime Credit
Income Per Month $2,576 $2,576 $2,576
Monthly Payment $206 $206 $206
Rate 3.50% 7.00% 11.00%
Sticker Price $14,160 $13,009 $11,848
Down Payment $2,832 $2,602 $2,370
Interest Paid $1,037 $1,957 $2,887
Total Paid $15,197 $14,967 $14,734

Ready to Find Your Loan?

We can get you in the driver’s seat of a new car. Talk to a lending expert nearby today.