Auto Loans in Oxnard (CA)

Before the internet, you had to go from one Oxnard lender to the next, hoping to find one who will approve you for financing. At Golden West Auto Finance, we have brought this process online. Instead of waiting until you are in negotiations at the dealership, we enable you to get approved for a car loan ahead of time. We will match you with a financing specialist who can help you obtain the car loan you need for the car you desire.

What APR Can You Expect in Oxnard?

Rate of interest is top of mind for most car shoppers, as it ought to be, and it is determined by a variety of things. Your credit profile is the most crucial. As you can imagine, an increased credit score can mean better rates. We can’t say what your APR will be here, but we can provide various estimates.

Credit Score Low APR High APR
720 to 690 3.5% 5.6%
690 to 660 5% 8.8%
660 to 620 7.1% 12.2%
620 to 590 10.4% 18.4%
590 to 500 15.3% 19.4%

Actual interest rates may differ greatly from these approximations, which are only for informational purposes. It’s difficult to predict your interest rate without information such as your credit score and income. Simply submit your application, then see what rates you are offered.

Used Car Auto Loans in Oxnard

Typically intelligent buyers finance used cars, not new ones. People have been known to discount used autos for having steeper loan rates, but remember that they are cheaper in upfront cash and in sum total. Even if you are in over your head on a used car or truck, it will typically be for a shorter period of time. To get the best of both worlds, consider a certified used car.

Financing a Car with Bad Credit in Oxnard

Below-average credit is not without drawbacks, which often include:

  • Higher rates of interest.
  • Substantial down payments.
  • Shortened financing terms.

While subprime credit could make it challenging to buy a new or used car, it is definitely not impossible. Luckily, we serve consumers with credit problems of all kinds, getting them the loans they need.

Don’t forget that a car loan, if paid as agreed, can improve your credit score in a matter of months.

In contrast, if you miss payment, it can bring down your score dramatically. Be sure to settle on a budget friendly monthly payment. Typically no more than 5-8% of your monthly income is appropriate, or $90 to $144 if you make $1,802, the average in Oxnard.

Oxnard Buy Here Pay Here Dealers

Have you considered financing a car through a BHPH dealer because of bad credit? Usually, there are better options. Sure, they don’t look at your credit, which means your credit problems ought not be an impediment to getting approved, but you will wind up paying a lot for this.

Unfortunately, you can look forward to inflated loan rates, large down payments, and somewhat battered vehicles that are too expensive in light of their condition. There is a good reason why these dealerships have a dirty track record. Let us match you with a reputable dealer who can get you approved, even if your credit is dreadful.

Loan Amounts for Oxnard Consumers

The amount you can take out for a car will be based off of your income bracket and credit tier. To illustrate, check out these numbers for the average Oxnard consumer who gets paid $1,802 a month.

Credit Rating Multiplier Sum
Excellent Credit 10 $18,020
Fair Credit 9 $16,218
Slow Credit 8 $14,416
Bad Credit 7 $12,614
Really Bad Credit 6 $10,812

How much you can borrow, and how much is advisable, are not the same thing. Wondering how much car is feasable? Take a look at the table below. The annual percentage rates have been approximated, and the numbers are based upon a yearly income of $21,627, the average in Oxnard. Loan length is 60 months.

Prime Credit Average Credit Bad Credit
Monthly Installment $144 $144 $144
Interest Rate 3.50% 7.00% 11.00%
Vehicle Price $9,906 $9,100 $8,288
Down Payment $1,981 $1,820 $1,658
Note Size $7,924 $7,280 $6,630
Total Interest $725 $1,369 $2,019
Total Paid $10,631 $10,470 $10,307

Your New Car is Waiting!

At Golden West Auto Finance, we take great pride in getting behind the wheel of a new car. Get matched with an automotive finance manager in Oxnard now.