Auto Loans in Los Angeles (CA)

Cars cost a lot these days, and searching for an inexpensive interest rate is more crucial than ever before. Our industry experience is unmatched, and we have one of the highest rates of approval you’re apt to find. It’s tough to imagine a better way to get approved for your next car.

Advantages for Los Angeles Car-Shoppers

  • Extensive network of California lenders and dealers.
  • Much less time wasted in the dealer office when you buy your vehicle.
  • No credit minimum for pre-approval.

Los Angeles Bad Credit Car Loans

A bad credit score has several drawbacks:

  • You will have to pay more total interest.
  • You have to put more money down.
  • You have to finance for shorter terms.

You don’t want to deal with having a loan application rejected, and therefore it’s important to get in touch with a dealer or lender in Los Angeles that provides auto loans for bad credit. We can help. At Golden West Auto Finance, we serve people with credit problems of all kinds, getting them the loans they need.

Checking for Inaccuracies on Your Credit Report

Mistakes on credit reports are getting to be quite common. Have you made sure your credit report is free of inaccuracies?

Every year, you can check your credit without spending a dime at Annual Credit Report, in accordance with the FACT (Fair and Accurate Credit Transactions) Act. It is advisable to do this in order to make sure you receive the interest rate you deserve.

Buy Here Pay Here Dealerships in Los Angeles, California

Many people in Los Angeles head for buy here pay here dealerships, sometimes called in house financing car dealers, under the impression that they will only be able to finance a car with no credit check. Not so. These dealers will finance practically anyone, regardless of their credit, but there are negatives. Alas, you should expect high rates of interest, high down payments, and high mileage vehicles that are overpriced. If elevating your credit score is important to you, you should submit your application through us, as BHPH dealers won’t aid you in re-establishing your credit.

Purchasing a Vehicle in Los Angeles: What Amount Can You Finance?

The stronger your credit, the more you can borrow. The same applies to your income. Take a look at these numbers based off of an income of $1,851 per month, the average in Los Angeles.

Credit Score Multiplier Amount Borrowed
Great Credit 10 $18,510
Average Credit 9 $16,659
Temporary Bad Credit 8 $14,808
Bad Credit 7 $12,957
Very Bad Credit 6 $11,106

It’s always good to buy a more affordable car than necessary, just to keep your expenses low. Check out this chart, which shows what price car you can finance based upon your FICO score, with an income of $1,851 a month, 5 year loan, and 20% down.

Good Credit Fair Credit Poor Credit
Monthly Installment $148 $148 $148
Rate 3.50% 7.00% 11.00%
Purchase Price $10,175 $9,348 $8,513
Down Payment $2,035 $1,870 $1,703
Borrowed Funds $8,140 $7,478 $6,811
Interest Paid $745 $1,406 $2,074
Total Paid $10,920 $10,754 $10,587

Speak with a Finance Specialist Today

At Golden West Auto Finance, our mission is getting in the driver’s seat of a new car. We will place your application with a finance professional from a dealer or lender located in Los Angeles.