Auto Loans in Simi Valley (CA)

If you’d like to finance a car in Simi Valley, you have found the right team. We make it easy to submit your application through our system. We put you in touch with a lending specialist to assist you each step of the way.

Simi Valley Car Loan Rates

You’d probably like to know what your interest rate is going to be, wouldn’t you? Do you know your credit score? This is the biggest variable. As one example of a high versus a low rate of interest, have a look at this comparison:

  • $15,520 financed at 3.50% APR for 60 months: $1,420 paid in total interest.
  • $15,520 financed at 11.00% APR for 60 months: $4,727 paid in total interest.

To obtain a reliable estimate of your interest rate, you will have to contact a finance professional.

Used Car Financing in Simi Valley

Used cars and trucks have got several significant advantages:

  • Lower principal on the loan.
  • Lower down payment requirements.
  • Lower risk of being underwater.

Preowned cars come with higher finance fees, but down payments are much less than what they are for new cars and trucks that are similarly priced. Consider, though, that there are limits on the vehicle in terms of age, mileage, and type. These vary among lenders, but typical requirements are listed here:

  • Mileage: at most 70,000 to 100,000 miles.
  • Age: maximum of 7 years old.

To get the best of all possible worlds, consider a certified used car.

Simi Valley Bad Credit Car Loans

People with good credit scores benefit from affordable rates of interest and great terms. However, many folks have struggled with credit problems thanks to the economy. Locating a finance company in Simi Valley that finances people with bad credit is extremely important, as you don’t want to have your credit turned down or be hit with an excessive APR rate. When you apply online through Golden West Auto Finance, our team works to match you with a dealer or lender in your area who wants to fund your loan.

Getting your credit approved, not selecting your vehicle, typically comes first at any dealership that finances bad credit. If you apply through us, you can arrange your finance contract on the phone, then make an appointment for you to pick out your vehicle and sign the paperwork. Never be tempted into financing a vehicle that’s higher in price than you planned. The additional pressure isn’t worth it in the end..

Buy Here Pay Here Financing in Simi Valley, California

For people with major credit problems on account of issues like bankruptcy or repossession, a buy here pay here dealer might appear to be a sensible approach. For the most part, dealer finance is outsourced, as car dealers go through a network of lenders to provide the loans. In contrast, BHPH dealers don’t. They provide financing themselves.

Sadly, you can expect exorbitant interest rates, expensive down payments, and somewhat battered vehicles that are steeply-priced. And if that weren’t enough of an issue, these dealerships don’t report back to the credit reporting agencies, so you could make all of your payments month after month with no boost to your credit score.

Simi Valley Consumer Profile

  • Income Per Annum: $23,282
  • Income Per Month: $1,940
  • Recommended Car Payment: $155 (8% of monthly income)

Check out this table, which shows what price car suits your budget based upon your credit rating, provided an income of $1,940 per month, 60 month repayment, and 20% down payment.

Prime Credit Average Credit Bad Credit
Car Payment $155 $155 $155
APR 3.50% 7.00% 11.00%
Repayment Months 60 60 60
Purchase Price $10,664 $9,797 $8,923
Money Down $2,133 $1,959 $1,785
Loan Amount $8,531 $7,838 $7,138
Interest Paid $781 $1,474 $2,174
Total Investment $11,445 $11,271 $11,097

Submit Your Credit Application

At Golden West Auto Finance, our mission is getting in the driver’s seat of a new car. There isn’t any fee to apply, and you could be driving home in your new car or truck within 24 hours.