Auto Loans in Santa Clarita (CA)

The average price of a new car has kept going up, but if you are clever in how you deal with the financial process, you’ll save a ton of money in the end. Our industry relationships are unequalled, and we are dedicated to connecting you with the lender that wants your business most. It really is hard to find an easier way to line up the financing required for your new car.

Why Secure Your Financing in Advance?

  • No reason to worry about getting approved.
  • Improved negotiating leverage.
  • Appointment to choose your car or truck.
  • No money down car deals frequently available to eligible applicants.

Considerations for People in Santa Clarita with Bad Credit

For those who have unfavorable credit ratings, having your car loan approved by a bank ordinarily isn’t possible. Needless to say, you don’t want to waste a lot of time searching for a lender or dealer in Santa Clarita that will work with your credit. When you submit your application through Golden West Auto Finance, our team works to match you with a dealer or lender in our network who is willing to approve your loan.

A major component of your credit score relies on your payment history. That means a car loan, being a big loan, can help you in rebuilding your credit. On the other hand, one single missed payment can reduce your score substantially. Settling on an appropriate payment amount is extremely important. To give an example, let us suppose you make $2,645 per month, the average for Santa Clarita residents.

  • 5% of Income: $132 (Ideal)
  • 8% of Income: $212 (Okay)
  • 10% of Income: $265 (Maximum)

Buy Here Pay Here Dealerships in Santa Clarita, CA

If you have substantial credit problems stemming from issues like bankruptcy or foreclosure, buy here pay here financing may well appear to be the only option. They seldom perform credit checks, so bad credit probably won’t be an impediment, but it’s likely that you’ll pay more than you think for this opportunity.

Sadly, you can expect exorbitant annual percentage rates, large down payments, and somewhat battered vehicles that are too expensive in light of their condition. Because of this, these dealers have a dirty reputation. We want to place you in the hands of a reputable dealer who will work with you, even if you have bad credit.

Loan Pre-approvals for Santa Clarita Consumers

The size loan you will be able to finance will be based off of your income bracket and credit tier. We’ve included a table that depicts loan amounts for someone with an income of $2,645 per month, the average in Santa Clarita.

Credit Income Factor Loan
Excellent Credit 10 $26,450
Decent Credit 9 $23,805
Subprime Credit 8 $21,160
Bad Credit 7 $18,515
Terrible Credit 6 $15,870

It’s best if you borrow less than you can. In this way, you can save income for emergency situations. Check out this chart, which shows what price car suits your budget based upon your credit score, provided an income of $2,645 a month, 60 month repayment, and 20% due at signing.

Great Credit Decent Credit Subprime Credit
Monthly Installment $212 $212 $212
APR 3.50% 7.00% 11.00%
Years 5 5 5
Purchase Price $14,540 $13,358 $12,165
Down Payment $2,908 $2,672 $2,433
Total Interest $1,064 $2,010 $2,964