Auto Loans in Orange (CA)

Buying a car is a big decision, and locking down a reasonable interest rate is a big consideration. Our expertise in the auto finance market is second to none, and we have lenders and dealers set and ready, awaiting your application. Let us match you with a lending professional who can help you obtain the loan needed for the car you want.

New versus Pre-owned Cars in Orange

Brand new cars begin depreciating the second they leave the lot, but they have lower rates of interest and more extended repayment terms than pre-owned ones. As this comparison shows, used cars will cost less money in the long run, even with their increased loan rates.

New Car 1 Year Old 2 Years Old 3 Years Old
Depreciation 0% 25% 40% 50%
Price $27,770 $20,828 $16,662 $13,885
Owed Upfront $5,554 $2,083 $1,666 $1,389
Interest Rate 5.00% 7.50% 7.50% 7.50%
Term 60 months 48 months 48 months 48 months
Monthly Installment $419.24 $453.23 $362.58 $302.15
Interest $2,939 $3,010 $2,408 $2,007
Overall Cost $30,709 $23,838 $19,070 $15,892

Keep in mind that new cars may be easier to finance with bad credit. Submit your application to to contact a finance specialist.

Bad Credit Orange Auto Loans

Below-average credit has several drawbacks:

  • You have to pay more interest.
  • You have to put more money down.
  • You have to pay back the loan in less time.

Here is the good news: there are loan companies and dealerships in Orange that can assist people who have credit problems. Fortunately, we are dedicated to serving consumers at every point on the credit spectrum, helping them secure the loans they need.

Car Dealers in Orange That Work With Bad Credit

You want to find a vehicle that fits your auto loan, not the other way round, so the financing discussion often comes first.

To get the lowest rate possible, be sure you ask the dealer the buy rate. This is the rate offered by the lender before the dealership tacks on extra points for arranging the loan. Always make sure that your loan payment is not beyond 10% of your income. For a person with the Orange average of $2,777 a month, this would be $278. In reality, 50% of this, $139, is far better.

Orange Buy Here Pay Here Dealers

The buy here pay here industry continues to grow, largely because so many consumers’ credit ratings suffered on account of the economic crisis. These dealers will finance nearly anyone, no matter their credit, but there are drawbacks.

You will find that used vehicles are the only ones offered, and these are not zero down cars. Usually, the down payment matches what the dealer had to pay for the vehicle at auction, and you could end up paying thousands in total interest through inflated rates. If that weren’t a problem, these car lots very rarely work with the credit reporting agencies, which means you could make each and every payment month after month without improving your credit score.

Orange Consumer Profile

  • Income Per Annum: $33,325
  • Monthly Income: $2,777
  • Recommended Monthly Payment: $139 to $278 (5-10% of monthly income)

Orange Car Loans Based on FICO Score

Here we have a chart revealing what car can be afforded with a monthly payment of $222, 20% down payment, and 5-year term.

Prime Credit Decent Credit Poor Credit
Income Per Month $2,777 $2,777 $2,777
Monthly Installment $222 $222 $222
Rate 3.50% 7.00% 11.00%
Purchase Price $15,265 $14,024 $12,772
Money Down $3,053 $2,805 $2,554
Borrowed Funds $12,212 $11,220 $10,218
Interest Paid $1,117 $2,110 $3,112
Total Investment $16,383 $16,134 $15,884