Auto Loans in Moreno Valley (CA)

On a daily basis, we help people in Moreno Valley get a car loan, even if they are trying to overcome common hurdles to getting approved:

  • Rocky Credit
  • Zero Credit
  • Fixed Income

We allow you to apply for financing through our vast network of dealers and lenders. Let us match you with a financing consultant who can help you line up the auto loan you need for the vehicle you prefer.

New and Used Car Loans in Moreno Valley

Both new and used cars and trucks can be financed through our participating dealers, banks, and finance companies. As the following chart reveals, used cars do cost you less in the long run, in spite of their greater interest rates.

New Car 1 Year Old Car 2 Year Old Car 3 Year Old Car
Depreciation 0% 25% 40% 50%
Sticker Price $24,430 $18,323 $14,658 $12,215
Owed Upfront $4,886 $1,832 $1,466 $1,222
Loan Rate 5.00% 7.50% 7.50% 7.50%
Years 5 4 4 4
Payment $368.82 $398.72 $318.97 $265.81
Finance Charge $2,585 $2,648 $2,118 $1,765
Overall Cost $27,015 $20,971 $16,776 $13,980

A lending consultant can help you determine whether a new or used vehicle would suit you best. To talk to one, submit your application.

Moreno Valley Bad Credit Car Loans

Credit scores are a fundamental factor when purchasing a car, no matter where you live. Has yours weathered a few bumps along the way? You don’t want to deal with being rejected by a bank or finance company. As a result, it is essential to locate a dealer or lender in Moreno Valley that specializes in low credit scores. Through us, you can contact an automotive lending expert from a lender or dealer within driving distance who is ready to work with your credit.

If you have bad credit, your dealer will talk to you about financing before you look at vehicles.

So as to fulfill the lender’s requirements, you will ordinarily need to verify your income through pay stubs or tax returns, and bring a recent lease or electricity bill that has your home address. Your dealer rep direct you through this process. Make sure that your loan payment isn’t greater than 10% of your income. For an individual earning the Moreno Valley average of $2,443 of income per month, that’s $244. Calculating this based on your own income is simple enough. All you have to do is multiply your monthly income by .10 for your own maximum payment.

Buy Here Pay Here Financing in Moreno Valley, CA

For people with serious credit problems stemming from issues like bankruptcy or repossession, buy here pay here financing could possibly sound like a smart move. For the most part, dealer finance isn’t direct to the consumer, in that dealers work with off-site banks and lenders to provide the loans, but buy here pay here dealers handle everything on site. They make approval decisions in-house, often with no credit check. Sadly, you should expect excessive annual percentage rates, big down payments, and vehicles that cost too much given their age and condition. Is improving your credit a concern for you? Then you should contact an automotive finance professional through us, as BHPH car lots won’t assist you in improving your credit.

Buying a Vehicle in Moreno Valley: How Much You Can Borrow

The stronger your credit, the bigger amount you can borrow, which also applies to your income. Take a look at these numbers based off of an income of $2,443 per month, the average in Moreno Valley.

Credit History Multiplier Sum
Good Credit 10 $24,430
Fair Credit 9 $21,987
Slow Credit 8 $19,544
Bad Credit 7 $17,101
Very Bad Credit 6 $14,658

It’s best if you borrow less than you can. In this way, you can keep your debt low low.

Auto Loans with $195 Monthly Payment

How much you ought to pay for a car depends on an array of factors. These estimates are based upon payments of $195, which is 8% of the average consumer’s monthly income in Moreno Valley, as well as a 20% down payment and 5-year loan. Annual percentage rates are estimated.

Prime Credit Okay Credit Subprime Credit
Monthly Income $2,443 $2,443 $2,443
Monthly Payment $195 $195 $195
Interest Rate 3.50% 7.00% 11.00%
Months 60 60 60
Vehicle Price $13,429 $12,338 $11,236
Money Down $2,686 $2,468 $2,247
Loan $10,743 $9,870 $8,989
Interest Paid $983 $1,856 $2,738
Total with Interest $14,412 $14,194 $13,974

Consult a Vehicle Finance Specialist in Moreno Valley!

At Golden West Auto Finance, we take great pride in getting in the driver’s seat of a new car. Chat with an automotive finance specialist near you today.