Auto Loans in Napa (CA)

If you’re considering getting an auto loan in Napa, few if any companies have simplified credit approval like we have. We work with a diverse network of dealers and lenders, and we have lenders and dealers ready and willing to fund your loan. We will match you with a financing specialist who can help you get the loan required for the vehicle you prefer.

New and Pre-owned Cars in Napa

Brand new cars and trucks come with lower interest rates than used cars, but this is counteracted by much higher purchase prices and down payments. Regardless of steeper interest rates, used cars save you money, as is clear from the figures below.

New Car 1 Year Old Car 2 Year Old Car 3 Year Old Car
Price $27,730 $20,798 $16,638 $13,865
Money Down $5,546 $2,080 $1,664 $1,387
Interest Rate 5.00% 7.50% 7.50% 7.50%
Term 5 years 4 years 4 years 4 years
Monthly Installment $418.64 $452.57 $362.06 $301.72
Total Interest $2,934 $3,006 $2,405 $2,004
Total Paid $30,664 $23,803 $19,043 $15,869

You don’t have to make your decision today. However, if you submit your application, you can speak with an auto finance representative about your options.

Buying a Car with Bad Credit in Napa

There are a variety of complications which can lead to a reduced credit score: delinquent bills, foreclosure, going bankrupt, etc. You don’t want to deal with a credit denial, and therefore you should find a company in Napa that accepts low credit scores. When you apply for financing through Golden West Auto Finance, our team works to place your application with a dealer or lender in Napa who wants to work with your credit.

Keep this in mind: a car loan, if paid as agreed, can increase your credit score and help you save money in the future. In contrast, missing just one single payment can hurt your score drastically. Settling on the right payment amount is critical. To illustrate, let’s say you have an income of $2,773 per month, the average for Napa residents.

  • Low Payment: $139 (5%)
  • Intermediate Payment: $222 (8%)
  • Maximum Payment: $277 (10%)

Buy Here Pay Here Car Lots in Napa, California

Buy here pay here car dealers usually help people who have serious credit problems like bankruptcy or foreclosure of a home. They don’t perform credit checks, meaning your credit problems probably won’t be an impediment, but you end up paying quite a lot for this. You will see that higher-mileage vehicles are the only ones available, and you may be asked to have an ignition interlock placed in your vehicle. Repossession is a common occurrence, and the interest rates are pretty ridiculous, they are so excessive. Worst of all, these car lots seldom work with the credit agencies, and that means you could make every single payment punctually without a boost to your credit score.

Buying a Vehicle in Napa: Loan Amounts

The better your credit, the bigger amount you can borrow, which also goes for your income. We’ve provided a chart depicting loan amounts for individuals with an income of $2,773 per month, the average in Napa.

Credit Rating Multiplier Amount Borrowed
Great Credit 10 $27,730
Fair Credit 9 $24,957
Subprime Credit 8 $22,184
Bad Credit 7 $19,411
Very Bad Credit 6 $16,638

In reality, it’s safer to borrow a smaller loan than you really can.

How Much Car You Can Afford with $222 Monthly Payment

How much you should devote to your new car depends on a wide selection of factors. These numbers derive from payments of $222, which is 8% of the average consumer’s monthly income in Napa, together with a 20% down payment and 60 month repayment terms. Annual percentage rates are simply estimates.

Excellent Credit Fair Credit Bad Credit
Income Per Month $2,773 $2,773 $2,773
Car Payment $222 $222 $222
Interest Rate 3.50% 7.00% 11.00%
Car Price $15,243 $14,004 $12,754
Down Payment $3,049 $2,801 $2,551
Loan $12,195 $11,203 $10,203
Interest Paid $1,116 $2,107 $3,107