Auto Loans in Redding (CA)

Each day, we help people in Redding get the auto loans they need, even with difficulties such as bad credit, lack of credit, and lack of down payment. For years, we’ve been establishing a network of dealers and lenders across California, and we are dedicated to getting you financed by the lender who is most likely to fit your needs. We match you with a lending professional who can help you get the auto loan necessary for the vehicle you prefer.

Cars Both New and Used in Redding

On a daily basis, we help our clients with new and used cars both. Consider this comparison of how much it would cost you to finance the same car as it gets older, from new to three years old.

New Car 1 Year Old Car 2 Year Old Car 3 Year Old Car
Depreciation 0% 25% 40% 50%
Sticker Price $17,500 $13,125 $10,500 $8,750
Owed Upfront $3,500 $1,313 $1,050 $875
APR 5.00% 7.50% 7.50% 7.50%
Months 60 48 48 48
Monthly Payment $264.20 $285.61 $228.49 $190.41
Interest $1,852 $1,897 $1,518 $1,265
Total Cost $19,352 $15,022 $12,018 $10,015

Ready to secure the loan you need? Go here to apply online.

Bad Credit Car Loans in Redding

Credit score is critical when buying a car in Redding. Has yours had better days? While problematic credit might make it difficult to finance the car you want, you’ve got a few options. It’s likely that we can match you with a lender or dealer in Redding who wants to approve you for financing.

A major element of your credit score is based on your payment history, and making payments on your new car loan can help you restore your credit. Believe it or not, after 12-24 months of timely payments it’s possible you’ll be able to refinance at a cheaper interest rate. It’s best not to stress your finances with an excessive car payment. Typically 5-8% of your monthly income is advisable, or $88 to $140 if you earn $1,750, the average in Redding.

Redding Buy Here Pay Here Financing

In house financing, otherwise referred to as buy here pay here financing, keeps growing, largely due to the fact that so many people’s credit ratings were hit by the economy. For the most part, dealer financing isn’t direct to the consumer, in that dealers work with a network of lenders to provide the loans, but BHPH dealers don’t. They provide loans themselves.

You will discover that preowned autos are the only models you can buy, and these aren’t no money down car deals. Usually, the down payment is equivalent to what the dealer paid for the vehicle, and rates equal to the state’s maximum legal limit can be expected. There is a good reason that these dealers don’t have an outstanding reputation. Let us place you with subprime finance specialist who can get your loan funded, even if your credit is terrible.

Redding Consumer Profile

  • Annual Income: $20,996
  • Income Per Month: $1,750
  • Average Car Payment: $193
  • Suggested Monthly Payment: $88 to $175 (5-10% of monthly income)

Vehicle Budgeting for Redding Residents

The total amount you can pay for a new car or truck is based on a wide selection of variables. The estimations below are derived from payments of $140, which is 8% of the average consumer’s monthly income in Redding, together with a 20% down payment and 60 month repayment terms. Interest rates are approximate.

Excellent Credit Decent Credit Poor Credit
Income Per Month $1,750 $1,750 $1,750
Monthly Payment $140 $140 $140
Loan Rate 3.50% 7.00% 11.00%
Car Price $9,620 $8,838 $8,049
Down Payment $1,924 $1,768 $1,610
Amount Borrowed $7,696 $7,070 $6,439
Interest Paid $704 $1,330 $1,961