Auto Loans in Rosemead (CA)

If you’re thinking of financing a car in Rosemead, not many companies have refined credit approval like we have. Rather than waiting until you are in a high-pressure situation at the dealership, we enable you to get approved for financing ahead of time. Enjoy the convenience of working with a dedicated lending consultant who can help answer your questions and line up your loan.

New and Used Car Loans in Rosemead

New cars and trucks begin losing value the second they’re bought, but they have merits such as lower rates and little maintenance. Below is a breakdown of what it costs to finance a car that costs $10,530 new, as it gets older, from new to 36 months old.

New Car 1 Year Old Car 2 Year Old Car 3 Year Old Car
Depreciation 0% 25% 40% 50%
Price $10,530 $7,898 $6,318 $5,265
Owed Upfront $2,106 $790 $632 $527
Interest Rate 5.00% 7.50% 7.50% 7.50%
Term 60 months 48 months 48 months 48 months
Monthly Installment $158.97 $171.86 $137.49 $114.57
Interest Paid $1,114 $1,141 $913 $761
Overall Cost $11,644 $9,039 $7,231 $6,026

A vehicle lending advisor can help you decide which type of vehicle is right for you. To discuss your options, go ahead and apply online.

Financing a Car in Rosemead with Bad Credit

Traditional lending institutions like banks typically only finance people who have very solid credit scores. That is, scores of 700 or more. While problematic credit can make it tougher to buy the car you need, you’re not without options. Odds are we can place your application with a lender or dealer in Rosemead who wants to get you in the driver’s seat.

Keep in mind that a car loan, if paid as agreed, can increase your credit score and prove to lenders that you have recovered from past issues. Believe it or not, many people wind up refinancing at a cheaper rate of interest after a couple of years of timely payments.

Commit 8% of your monthly income, and no more, for your car payment. For consumers in Rosemead who earn $1,053 per month, this is $84.

Buy Here Pay Here Dealers in Rosemead, CA

Buy here pay here dealers usually work with people who’ve got truly serious credit problems like bankruptcy or foreclosure of a home. Dealers like these will finance just about anybody, regardless of their credit, but there are negatives. Problems include:

  • Outrageous Interest rates
  • Overpriced Down Payments
  • Overpriced Cars and Trucks
  • Aggressive Repossession Tactics

Is raising your credit a concern for you? Then you are better off applying through us, seeing as BHPH dealers won’t assist you in increasing your credit.

Rosemead Income and Finances

  • Gross annual Income: $12,632
  • Monthly Income: $1,053
  • Recommended Monthly Payment: $84 (8% of monthly income)

Below we have a chart showing what car you can afford with a monthly installment of $84, 20% down payment, and 5-year term.

Great Credit Average Credit Bad Credit
Payment Amount $84 $84 $84
Rate 3.50% 7.00% 11.00%
Vehicle Price $5,788 $5,318 $4,843
Money Down $1,158 $1,064 $969
Interest Paid $424 $800 $1,180
Total with Interest $6,212 $6,118 $6,023