There are too many South El Monte consumers who are worried about being rejected by lenders thanks to their credit. Rather than waiting until you’re in negotiations at the dealership, we allow you to apply for a car loan in advance. It truly is tough to find a better way to line up the financing required for your new car.
Cars Both New and Used in South El Monte
If you want the best value for your money, then a pre-owned car is a wise choice. Below is an analysis of the cost to finance the same car as it gets older, from new to 36 months old.
|New Car||1 Year Old||2 Years Old||3 Years Old|
|Percent of Original Price||100%||75%||60%||50%|
|Term||5 years||4 years||4 years||4 years|
Ready to secure the loan you need? Go here to submit your application.
South El Monte Bad Credit Car Loans
When you’ve got bad credit, a bank-financed loan generally isn’t an option. Many consumers think they have no choice but to buy from one of the buy here pay here car dealers in South El Monte, because of bad credit, but you really want to stay clear of these car dealerships. Through us, you can contact an automotive financing professional from a lender or dealer in your zip code who wants to approve your credit.
Seeing as credit is your primary hurdle, your finance specialist will have a conversation with you about financing before anything else.
The dealer may require you to bring documents such as proof of income, proof of residence, and driver’s license. Regardless of your credit, you should be able to find a vehicle you can get financed. It’s recommended that the payments are roughly 5 to 10% of what you earn per month before taxes. If you make $2,720 per month, this is a payment of $136 (5%) to $272 (10%).
South El Monte Buy Here Pay Here Car Lots
People young and old turn to buy here pay here dealers, assuming they can only get approved with no credit check. Not the case. Such dealers offer auto loans in-house, unlike traditional dealers which farm this out to separate lenders, and they are more concerned with your job than your credit. Downsides include exorbitant rates of interest and overpriced vehicles with ignition kill-switches to help with repossession There is a good reason why these car dealers don’t have a very good track record. We want to put you in touch with a reputable dealer who will work with you, even if you’ve had to file bankruptcy.
South El Monte Consumer Profile
- Income Per Annum: $32,644
- Income Per Month: $2,720
- Average Car Payment: $299
- Ideal Monthly Payment: $136 to $272 (5-10% of monthly income)
The total amount you should devote to a new car or truck is determined by a wide variety of variables. These numbers are based on payments of $218, which is 8% of the average consumer’s monthly income in South El Monte, together with a 20% down payment and 5-year loan. Loan rates are approximate.
|Excellent Credit||Okay Credit||Subprime Credit|
|Price Paid with Interest||$16,046||$15,803||$15,558|
Your Auto Loan is Waiting
If your credit score isn’t the best, put us to work. A finance manager will walk you through the lending process, helping you get approved at an affordable rate.