Auto Loans in Santa Barbara (CA)

Have you been considering getting pre-approved for financing? You really should, as it often results in a cheaper interest rate and more advantageous terms. Our network of dealerships and lenders is unrivaled, and we have some of the highest approval rates in the market. Generally, we can position consumers with a willing dealer or lender even if they have credit problems on account of bankruptcy or repossession.

Advantages of our Service for Santa Barbara Car Buyers

  • Deep array of California dealers and lenders.
  • Book an appointment to buy your vehicle.
  • Application is totally free.

Bad Credit Car Loans in Santa Barbara

Credit score is a crucial variable when purchasing a car not just in Santa Barbara, but everywhere. Has yours taken a few licks? Needless to say, you don’t want to waste a lot of time seeking out a dealer or finance company in Santa Barbara that will work with subprime borrowers. Through us, you can contact an automotive finance professional from a lender or dealer within driving distance who wants to approve you for financing.

It’s now estimated that 20% of Americans have at least one inaccuracy on their credit report, as reported by one or all three of the major credit bureaus:

  • Equifax
  • Experian
  • Transunion

You really ought to check your credit history a minimum of one time annually. Failing to do this could contribute to higher rates, scaled-down loans, and less chance for being approved.

Buy Here Pay Here Financing in Santa Barbara, CA

Considering financing a car through a BHPH dealer because of bad credit? Usually, there are considerably better alternatives. These dealers grant financing on location, whereas most dealerships contract this, and they finance just about everyone. Sadly, you should be prepared for high interest rates, expensive down payments, and somewhat battered vehicles that are too expensive given the shape they’re in. Is elevating your credit a priority for you? Then you should apply online through us, seeing as BHPH car lots won’t aid you in improving your credit.

Purchasing a Car in Santa Barbara: Loan Amounts

The size loan you will be eligible borrow will be based on your income bracket and credit tier. We’ve created a chart that depicts the maximum loans for people with an income of $1,842 per month, the average in Santa Barbara, California.

Credit Rating Multiplier Loan
Great Credit 10 $18,420
Average Credit 9 $16,578
Slow Credit 8 $14,736
Bad Credit 7 $12,894
Terrible Credit 6 $11,052

But don’t forget: there is how much you could borrow, and the amount it’s smart to.

How Much Car You Can Afford with $147 Monthly Payment

To sum up, the ideal finance package includes a down payment of 20%, car payment of less than 10% of monthly income, and a repayment term of 60 months or less. Provided an income of $1,842 each month, let’s find out what price car you could buy given your credit.

Exceptional Credit Average Credit Bad Credit
Income Per Month $1,842 $1,842 $1,842
Monthly Installment $147 $147 $147
Interest Rate 3.50% 7.00% 11.00%
Vehicle Price $10,125 $9,302 $8,472
Down Payment $2,025 $1,860 $1,694
Amount Borrowed $8,100 $7,442 $6,778
Interest Paid $741 $1,400 $2,064