Auto Loans in San Pedro (CA)

Financing a car is a time-consuming process, so it’s imperative that you get the most competitive annual percentage rate possible. Rather than waiting until you are in negotiations at the dealership, we allow you to line up a car loan in advance. Experience the convenience of having a dedicated lending professional to answer your questions and line up your loan.

San Pedro Auto Finance Rates

You probably want to know high or low your interest rate will be. Have you checked your credit score? This is the most significant factor. Below we’ve got several rate approximations for San Pedro.

Credit New APR Used APR
Terrific Credit 3.5% 3.7%
Fair Credit 5% 5.6%
Slow Credit 7.1% 8.8%
Bad Credit 10.4% 12.2%
Terrible Credit 15.3% 18.4%

These numbers are only to provide you with a notion of possible rates. It is very difficult to estimate the rate you’ll be charged without information such as your credit score and income. Take a little time to apply online and see what rates a nearby dealer can secure for you.

Used Car Financing in San Pedro

Buying a used car doesn’t mean you can’t get a well-performing vehicle with great fuel economy. People have been known to discount preowned autos for having less affordable rates, but bear in mind that they are less expensive in upfront cash and in sum total. A great many lenders, however, will require that you buy from a car dealership and not a private party. Below, we have put together some numbers that may help you determine if you ought to get a new or used vehicle. These numbers rely on the following assumptions:

  • Three year old used vehicle.
  • Credit score of 690 to 720.
  • Simple Interest.
New Car Used Car
Price $20,730 $10,365
Down Payment $4,146 $1,037
APR 5.00% 7.50%
Years 5 4
Monthly Payment $312.96 $225.55
Finance Charge $2,194 $1,498
Total Paid $22,924 $11,863

Bad Credit San Pedro Auto Loans

There are some disadvantages to financing a car with bad credit:

  • You will have to pay more in total interest.
  • You have to have a larger down payment.
  • You have to pay back the loan in fewer months.

A lot of shoppers end up getting financed through one of the buy here pay here car dealers in San Pedro, because of a bankruptcy or other problems, but you really want to keep clear of these car lots. More often than not, we can find you a lender or dealer in San Pedro who is ready to approve your loan.

Car Dealers in San Pedro That Work With Bad Credit

You want to find a vehicle that suits your credit, not vice versa, and your salesperson should be able to help you. If you apply through us, you can usually discuss the main points of your finance contract on the phone, then choose a time to sign and drive. Avoid being persuaded into buying a car or truck that’s more pricey than you planned. You will be at a higher risk of missing payments, which is about the very last thing you need..

Buy Here Pay Here Car Lots in San Pedro, California

Considering going to a buy here pay here dealer for approval? Usually, there are better alternatives. These car lots grant funding on the lot, unlike regular dealers which work with banks and other lenders, and they typically don’t do credit checks.

The fact is, you can look forward to high loan rates, expensive down payments, and vehicles that are too expensive for their mileage and condition. If raising your credit score is important to you, you are better off applying through us, as BHPH dealerships won’t help you rebuild your credit.

San Pedro Income and Finances

  • Annual Income: $24,881
  • Monthly Income: $2,073
  • Ideal Car Payment: $104 to $207 (5-10% of monthly income)

Do you know how much car is in your budget? Check the estimates below. The annual percentage rates have been estimated, and the figures are based upon a yearly income of $24,881, the average in San Pedro. Loan length is 5 years.

Prime Credit Okay Credit Bad Credit
Payment Amount $166 $166 $166
Loan Rate 3.50% 7.00% 11.00%
Term 5 Years 5 Years 5 Years
Sticker Price $11,395 $10,469 $9,534
Money Down $2,279 $2,094 $1,907
Note Size $9,116 $8,375 $7,627
Total Interest $834 $1,575 $2,323
Price Paid with Interest $12,229 $12,044 $11,857

Your San Pedro Car Loan is Waiting

At Golden West Auto Finance, we take great pride in getting behind the wheel of a new car. Speak with a finance expert in San Pedro now.