Auto Loans in Santee (CA)

If you’re thinking of getting an auto loan in Santee, only a few firms have optimized the experience like ours has. We work with a wide network of lenders and dealers, and we specialize in getting you financed by the lender who suits you best. We put you in touch with a credit specialist whose job is to get you approved for the car you want.

New and Used Car Loans in Santee

Have you considered which kind of vehicle you’re looking for, and whether you want it used or new? Consider this comparison of what it would cost you to finance a vehicle that is new as compared to 1, 2, or 3 years old.

New Car 1 Year Old 2 Years Old 3 Years Old
Depreciation 0% 25% 40% 50%
Price $22,430 $16,823 $13,458 $11,215
Money Down $4,486 $1,682 $1,346 $1,122
Interest Rate 5.00% 7.50% 7.50% 7.50%
Duration 60 months 48 months 48 months 48 months
Payment $338.63 $366.07 $292.86 $244.05
Interest Paid $2,374 $2,431 $1,945 $1,621
Overall Cost $24,804 $19,254 $15,403 $12,836

It’s not necessary to decide now, but if you submit your application, you can speak with a vehicle finance representative about your options.

Bad Credit Car Loans in Santee

There are a variety of things that result in poor credit: medical bills, repossession, going bankrupt, and more. Naturally, you don’t want to waste a lot of time searching for a lender or dealer in Santee that works with subprime borrowers. When you apply for financing through us, our team works to match you with a dealer or lender in your zip code who is willing to get you in the driver’s seat.

Santee Bad Credit Car Dealers

As credit is your principal challenge, your dealer will talk to you about financing straight away.

The dealer will typically require you to present documents such as proof of income, residence, and insurance. All in all, your monthly payment should be equal to just 5-8% of your gross monthly income. By way of example, a typical Santee consumer who has an income of $2,243 each month, the average, should plan to invest just $112 to $179. Spend more than this and falling behind will become a risk.

Santee Buy Here Pay Here Dealerships

The BHPH industry has expanded in recent years, largely because so many consumers’ credit scores suffered on account of the credit crunch and housing market. These types of car lots approve auto loans on site, unlike traditional dealers which farm this out to third-party lenders, and they finance just about anyone. Disadvantages include:

  • Exorbitant APR Rates
  • Huge Down Payments
  • Steeply-Priced Cars and Trucks
  • GPS Tracking Devices

Is improving your credit a priority for you? Then you are better off applying through us, as buy here pay here dealers will not help you improve your credit.

Loan Amounts for Santee Consumers

The size loan you can finance is determined by your credit and income. The following figures are based of of an income of $2,243 monthly, the average among Santee residents.

Credit Multiplier Amount Borrowed
Great Credit 10 $22,430
Decent Credit 9 $20,187
Slow Credit 8 $17,944
Poor Credit 7 $15,701
Horrible Credit 6 $13,458

The truth is, it’s best to finance a cheaper car than you really can.

How Much Car You Can Afford with $179 Monthly Payment

The exact amount you ought to invest in a car depends on many different factors. The numbers in the chart below derive from a monthly payment of $179, which is 8% of the average consumer’s monthly income in Santee, as well as a 20% down payment and 60 month loan. Rates are approximated.

Exceptional Credit Fair Credit Bad Credit
Monthly Payment $179 $179 $179
APR 3.50% 7.00% 11.00%
Vehicle Price $12,330 $11,328 $10,316
Money Down $2,466 $2,266 $2,063
Interest Paid $903 $1,704 $2,513

Complete Your Application Here!

Our company is your trusted source when it comes to finding, and funding, a car in Santee. Our application costs nothing, and you could be driving home in your new car within 24 hours.