Auto Loans in Palmdale (CA)

If you need an auto loan in Palmdale, we can help. Rather than waiting until you’re in the dealer finance office, we allow you to line up a car loan ahead of time. Generally, we can match car shoppers with an appropriate lender or dealer within 60 seconds.

Reasons Palmdale Car-Shoppers Choose us

  • Lenders and dealers forced to compete to fund your loan.
  • Much better bargaining power.
  • A lot less time wasted at the dealer on the day of purchase.
  • Zero down payment frequently offered for qualified credit seekers.

Bad Credit Palmdale Auto Loans

Maybe you have a low credit score as a result of overdue bills, unemployment, divorce, or even bankruptcy? There’s good news, though: there are lending companies and dealerships in Palmdale that say yes to people who have credit problems. Through us, you can contact an automotive lending expert from a dealer or lender in our network who is ready to finance your credit.

At a bad credit dealership in Palmdale or anywhere, your salesperson will want to discuss financing straight away. To get the lowest rate you possibly can, remember to inquire about the buy rate. This is the rate offered by the lender before the dealer adds on extra points for lining up the loan. Regardless of your credit, you should be able to find a vehicle you can finance. You’d be smart to find a vehicle with a payment that is around 5 to 10% of what you get paid per month before taxes. If you get paid $2,697 per month, this would be a payment of $135 (5%) to $270 (10%).

Buy Here Pay Here Financing in Palmdale, CA

People in Palmdale turn to buy here pay here dealerships, of the belief that they will only be able to finance a car at such a place. Not so. These dealers will approve pretty much anyone, no matter their credit, but there are issues.

Most often, preowned vehicles are the only ones offered, and you may be asked to have a GPS tracking device installed in your vehicle. Repossession is frequent, and the interest rates are astronomical. And if that weren’t a problem, these dealers seldom work with the credit reporting agencies, which means you could make every single payment on time with no boost to your credit score.

Palmdale Consumer Profile

  • Income Per Year: $32,367
  • Monthly Income: $2,697
  • Suggested Car Payment: $216 (8% of monthly income)

Have a look at this chart, which displays what price car is within your budget based upon your FICO score, provided an income of $2,697 each month, 60 month repayment, and a down payment of 20%.

Excellent Credit Average Credit Subprime Credit
Monthly Installment $216 $216 $216
Interest Rate 3.50% 7.00% 11.00%
Term Length 60 Months 60 Months 60 Months
Car Price $14,825 $13,620 $12,404
Money Down $2,965 $2,724 $2,481
Note Size $11,860 $10,896 $9,923
Interest Paid $1,085 $2,049 $3,022
Total Paid $15,911 $15,670 $15,426