Auto Loans in Salinas (CA)

In the old days, you needed to go from one Salinas lender to the next, searching for one who will approve your application. At Golden West Auto Finance, we have made it much easier to secure the auto loan you need. We enable you to submit your application online. It is tough to find a more convenient way to secure your auto loan.

Credit Acceptance for Salinas Borrowers

  • Enter correct information on your application.
  • Pay off as much of your unsecured debt as you’re able to, to reduce your debt-to-income ratio.
  • Dispute any inaccuracies on your credit report.

Salinas Bad Credit Car Loans

Credit score is an essential factor when financing a car. Has yours had better days? Although subprime credit might make it difficult to finance the car you need, you have some options. When you apply for financing through Golden West Auto Finance, we work to match you with a dealer or lender in your zip code who wants to approve you for financing.

Bad Credit Car Dealers in Salinas

At a bad credit dealership in Salinas or anywhere, your finance specialist will be inclined to discuss financing right from the start. If you apply through us, you can arrange your car loan in advance, then pick a date for you to visit the lot and purchase the vehicle you want. Never be tempted into buying a car or truck that’s more expensive than you expected. More costly payments mean higher risk of missing payments, which is not what you need..

Salinas Buy Here Pay Here Dealers

Buy here pay here car dealers normally do business with people with significant credit problems such as bankruptcy or repossession of a vehicle. In most cases, dealer finance isn’t direct to the consumer, as car dealers work with off-site banks and lenders to provide the loans. By contrast, BHPH dealers handle everything on site. They are the actual loan originator. More often than not, used cars and trucks are the only thing you can buy, and these aren’t no money down car loans. In most cases, the down payment is equivalent to what the dealer paid for the vehicle when they bought it, and you could wind up paying up to 20% APR. This is why these dealerships don’t have the best reputation. We want to place you in the hands of a reputable dealer who can get you in the driver’s seat of an excellent car, even if your credit is terrible.

Buying a Vehicle in Salinas: The Amount Can You Finance?

Need to know what size car loan you’ll be able to obtain given your income and credit? To illustrate, check out these numbers based off of an income of $3,071 per month, the average in Salinas.

Credit Rating Income Factor Amount Borrowed
Good Credit 10 $30,710
Average Credit 9 $27,639
Slow Credit 8 $24,568
Bad Credit 7 $21,497
Really Bad Credit 6 $18,426

It’s always good to buy a more affordable car than you really could, in an effort to save some income for other things. The amount you should devote to your new car is determined by several variables. The numbers in the table below are based upon payments of $246, which is 8% of the average consumer’s monthly income in Salinas, combined with a 20% down payment and 60 month repayment terms. Rates are estimated.

Exceptional Credit Decent Credit Poor Credit
Income Per Month $3,071 $3,071 $3,071
Payment $246 $246 $246
Rate 3.50% 7.00% 11.00%
Sticker Price $16,881 $15,509 $14,124
Down Payment $3,376 $3,102 $2,825
Amount Borrowed $13,505 $12,407 $11,300
Total Interest $1,236 $2,333 $3,441
Total Amount Paid $18,117 $17,843 $17,566