Auto Loans in Long Beach (CA)

There are too many Long Beach consumers who are worried about being rejected for a car loan on account of imperfect credit. As opposed to waiting until you are in the dealer’s F&I office, we allow you to arrange financing in advance. More often than not, we can position our customers with an interested lender or dealer even if they have credit problems like bankruptcy or repossession.

Financing a New Car in Long Beach

For those who are considering a new car, consider these recommendations.

  • You don’t plan to swap out the vehicle before it is paid off.
  • You’re able to offer a big down payment.
  • You’re prepared to deal with a car that is worth less than you owe .

If you can’t meet these guidelines, it’s probably best to look at a preowned car or truck.

Auto Loans for Preowned Cars in Long Beach

Preowned autos are more affordable, that’s obvious. This means lower monthly payments and insurance premiums. Some consumers disregard preowned autos for having steeper interest rates, but keep in mind that they cost less in upfront cash and in the long run. Maintenance issues can be alleviated by selecting a vehicle that is still covered by its factory warranty or buying an extended service contract. Below, we have put together the following figures that may help you determine whether you should finance a vehicle that’s new or used. We’re assuming a two year old vehicle that has lost 50% of its value, and a buyer with a credit score of 690 to 720.

New Car Used Car
Price $14,250 $7,125
Down Payment $2,850 $713
APR 5.00% 7.50%
Months 60 48
Monthly Payment $215.13 $155.05
Interest Paid $1,508 $1,030
Total Paid $15,758 $8,155

Long Beach Auto Loans with Bad Credit

There are an array of issues that cause a bad credit score: unpaid bills, repossession, going bankrupt, and much more. Locating a lending company in Long Beach who specializes in bad credit is critical, as you don’t want to have your credit declined or have to deal with an unnecessarily high interest rate. When you submit your application through Golden West Auto Finance, our team works to find you a dealer or lender in Long Beach who is ready to get you in the driver’s seat.

Long Beach Bad Credit Car Dealerships

Getting financed, not choosing a car or truck, is the first priority at bad credit car dealers in Long Beach. If you apply through us, you can line up your funding arrangement in advance, then pick a day for you to visit the lot and purchase the vehicle you want. No matter what your credit score is, we can help you find a vehicle for which you can get a loan. It is best if the payments are between 5 to 10% of your monthly income. If you get paid $1,425 per month, you would ideally have a payment of $71 (5%) to $143 (10%).

Buy Here Pay Here Auto Loans in Long Beach, CA

Consumers in Long Beach and all over California go to buy here pay here car lots, sometimes referred to as in house financing car dealers, thinking that they can only get financed at such a place. Not true. These types of dealers offer auto loans in-house, in contrast to conventional dealers which work with banks and loan companies, and they finance just about everyone. Customarily, used cars and trucks are the only models you can buy, and these Long Beach dealers may require you to pay weekly, at the lot. The rates of vehicles being repossessed are astronomical, and so are the interest rates. This is why these retailers have a dirty track record. Let us connect you with a reputable dealer who can get you financed, even if your credit is horrible.

Long Beach Income and Finances

  • Income Per Year: $17,100
  • Monthly Income: $1,425
  • Optimal Monthly Payment: $71 to $143 (5-10% of monthly income)

Check out this chart demonstrating what car you can afford with a monthly payment of $114, 20% down payment, and 60 month term.

Excellent Credit Decent Credit Bad Credit
Monthly Income $1,425 $1,425 $1,425
Monthly Payment $114 $114 $114
Rate 3.50% 7.00% 11.00%
Sticker Price $7,833 $7,197 $6,554
Down Payment $1,567 $1,439 $1,311
Interest Paid $573 $1,083 $1,597
Total with Interest $8,407 $8,279 $8,151

Start Your Application Here

No matter your credit, we’d love to help you get the funds you need. We will place your application with a dealer or lender that’s local to Long Beach.