Auto Loans in National City (CA)

Purchasing a new car is a big decision, and locking down an affordable interest rate can be a stress filled experience. Our industry relationships are second to none, and we have lenders and dealers ready to fund your loan. It is difficult to find an easier way to obtain your auto loan.

New versus Used Cars in National City

On a daily basis, we help people with the purchase of used and new vehicles both. As this comparison demonstrates, pre-owned cars often save you money in the long run, regardless of their more expensive rates.

New Car 1 Year Old 2 Years Old 3 Years Old
Depreciation 0% 25% 40% 50%
Sticker Price $12,480 $9,360 $7,488 $6,240
Owed Upfront $2,496 $936 $749 $624
Loan Rate 5.00% 7.50% 7.50% 7.50%
Term 60 months 48 months 48 months 48 months
Monthly Payment $188.41 $203.68 $162.95 $135.79
Total Interest $1,321 $1,353 $1,082 $902
Total Cost $13,801 $10,713 $8,570 $7,142

Basically, a new car loses one quarter of its value in the 12 months on the road, so a year-old car can be a really good deal. In the end, it’s up to you.

National City Auto Loans with Bad Credit

Most finance companies assess your credit based on your auto-enhanced credit score. This score draws on your past experience with auto loans or leases. Of course, you don’t want to waste time trying to find a bank or finance company in National City that will work with your credit. Odds are we can place your application with a lender or dealer in your zip code who is ready to approve your credit.

Keep this in mind: a car loan, if paid as agreed, can increase your credit score by establishing a record of timely payments. Believe it or not, you may be able to refinance your car or truck once your score has increased to a new tier.

Designate 8% of your monthly income, and no more, for your auto loan. If you are like the average National City resident and make $1,248 per month, this is $100.

National City Buy Here Pay Here Dealerships

Buy here pay here car dealers normally do business with people who’ve got significant credit problems such as bankruptcy or foreclosure of a home. These dealerships offer car loans on location, as opposed to traditional dealers which contract this, and they are more focused on your income than your credit.

Unfortunately, you should be prepared for excessive loan rates, huge down payments, and cars and trucks that cost too much given the number of miles they have. Because of this, these retailers don’t have the best track record. We can place you in the hands of dealer finance specialist who can get you the loan you need, even if you have bad credit.

Loan Pre-approvals for National City Consumers

Interested in what size auto loan you can obtain based on your income and credit? Have a look at these numbers for the average National City consumer who makes $1,248 per month.

Credit Multiplier Loan
Good Credit 10 $12,480
Decent Credit 9 $11,232
Subprime Credit 8 $9,984
Poor Credit 7 $8,736
Terrible Credit 6 $7,488

How much you can borrow, and how much is wise, are two separate things.

How Much Car You Can Afford with $100 Monthly Payment

In summary, an appropriate funding arrangement includes a down payment of 20%, car payment of less than 10% of monthly income, and a repayment term of 5 years or less. Given an income of $1,248 monthly, let’s take a look at how much car you could buy based on your credit.

Excellent Credit Okay Credit Bad Credit
Income Per Month $1,248 $1,248 $1,248
Payment Amount $100 $100 $100
APR 3.50% 7.00% 11.00%
Sticker Price $6,860 $6,303 $5,740
Down Payment $1,372 $1,261 $1,148
Note Size $5,488 $5,042 $4,592
Interest Paid $502 $948 $1,398