Auto Loans in San Juan Capistrano (CA)

It is smart of you to try and find financing before you go to the dealer lot, because it often translates to a better rate of interest and more advantageous terms. We do business with a vast network of lenders and dealers, and we have one of the highest success rates in the market. Experience the convenience of working with a committed lending consultant who can answer the questions you have and arrange your loan.

The Choice: New or Used Car in San Juan Capistrano

When applying through us, auto loans for new and used vehicles are available. Are you trying to decide which you ought to opt for? New cars are far from the best investment, given that they lose a significant portion of their value the moment you buy them, meaning that you’re at a greater risk of negative equity. For this reason, banks and finance companies customarily require a 20% down payment, versus the 10% common for a used car. However, interest rates for new cars are lower, and in most cases it’s much simpler to finance a new car with bad credit. If you’re unsure, discussing your situation with an automotive finance specialist could help you determine if a new our used vehicle is the right choice.

Used Car Financing in San Juan Capistrano

Preowned vehicles give you several substantial advantages:

  • Lower loan principal.
  • Lower down payment requirements.
  • More gradual rate of depreciation.

The loan rates for preowned vehicles are a little higher, but other advantages, such as a lower purchase price and more gradual rate of depreciation, more than make up for these heightened rates. Maintenance concerns can be alleviated by choosing a vehicle still under warranty or buying an extended warranty. If you want to combine the good value of a used car with the reliability of a new one, consider a certified preowned car.

Bad Credit San Juan Capistrano Car Loans

Have bad credit on account of overdue bills, company layoffs, foreclosure, or bankruptcy? Here is the good news: there are finance companies and dealerships in San Juan Capistrano that welcome people who have bad credit. We have the solution. We are experts in serving customers who have credit problems of all kinds, getting them the loans they need.

Credit report mistakes have grown relatively commonplace. Have you made sure your below-average credit isn’t a result of such complications?

Make sure you review your credit history no less than one time per year. Not doing this could contribute to higher rates, smaller loans, and less chance for being approved.

San Juan Capistrano Buy Here Pay Here Financing

The buy here pay here industry has expanded in recent years, largely because so many people’s credit scores were hit by the economic crisis. Such dealers provide car loans on the lot, as opposed to conventional dealerships which contract this, and they are more focused on your income than your credit. Customarily, used cars and trucks are the only models on the lot, and these San Juan Capistrano dealers may have you have a GPS tracking device mounted in your vehicle. The numbers of vehicles being repossessed are extremely high, much like the interest rates. For this reason, these car dealers don’t have a great reputation. We want to match you with subprime finance professional who can get you financed, even if you’ve had to file bankruptcy.

Loan Amounts for San Juan Capistrano Consumers

The amount you can borrow will depend on how much money you’re making, and how good or bad your credit scores are. These numbers presume an income of $4,516 a month, the average among San Juan Capistrano residents.

Credit Score Multiplier Loan
Great Credit 10 $45,160
Fair Credit 9 $40,644
Temporary Bad Credit 8 $36,128
Poor Credit 7 $31,612
Very Bad Credit 6 $27,096

However, it’s advisable to buy a less expensive car than you’re pre-approved to finance.

Financing a Car with $361 Monthly Payment

Here we have a table displaying what car you can afford with a payment per month of $361, 20% down payment, and 5-year term.

Prime Credit Fair Credit Poor Credit
Monthly Income $4,516 $4,516 $4,516
Car Payment $361 $361 $361
Loan Rate 3.50% 7.00% 11.00%
Repayment Months 60 60 60
Purchase Price $24,824 $22,807 $20,770
Down Payment $4,965 $4,561 $4,154
Total Interest $1,817 $3,431 $5,060
Overall Investment $26,642 $26,238 $25,831