Auto Loans in South San Francisco (CA)

Quite a lot of prospective borrowers in South San Francisco and across California simply expect that credit problems will stop them from getting a car financed. The truth is, we assist applicants from all of the different credit tiers. Instead of waiting until you’re in the dealership’s finance office, we allow you to arrange a car loan ahead of time. You will be walked step-by-step through the process by a financing specialist in your city.

Finance Guidelines for South San Francisco Borrowers

  • Provide truthful information when submitting application.
  • Pay off revolving credit debt, to reduce your debt-to-income ratio.
  • Get yourself a co-signer for your loan.

Bad Credit South San Francisco Auto Loans

Consumers who have good credit enjoy minimal loan rates and advantageous terms, but some of us don’t have this convenience. Needless to say, you don’t want to spend your weekends seeking out a lender or dealer in South San Francisco that will work with the lower end of the credit spectrum. Fortunately, we are experts in serving clients with credit problems of all kinds, helping them secure the loans they need.

You want to finance a vehicle that will fit your car loan, not the opposite, and your finance specialist should be able to guide you.

Your dealer may ask you to present the following documentation:

  • Driver’s License
  • Proof of Income
  • Proof of Residence

No matter your credit, you should be able to find a vehicle you can afford. You’d be wise to opt for a payment that is between 5 to 10% of your monthly income. If you make $2,554 per month, this would be a payment of $128 (5%) to $255 (10%).

Buy Here Pay Here Dealers in South San Francisco, California

The BHPH industry has expanded in the past few years, largely because so many consumers’ credit scores were hit by the economy. They don’t perform credit assessments, which means bad credit ought not be a barrier to getting approved, but you wind up paying a lot for this.

Unfortunately, you will be faced with high rates of interest, massive down payments, and cars and trucks that are too expensive for their mileage. There’s a reason why these dealerships don’t have a great reputation. Let us connect you with subprime finance professional who will work with you, even if your credit is horrible.

South San Francisco Income and Finances

  • Income Per Annum: $30,644
  • Monthly Income: $2,554
  • Typical Car Payment: $281
  • Ideal Monthly Payment: $204 (8% of monthly income)

South San Francisco Auto Finance Rates and Payments

To conclude, an ideal funding arrangement involves the following: down payment of 20%, car payment of less than 10% of monthly income, and a repayment term of 5 years or less. With an income of $2,554 each month, let’s check out what price car you could buy based upon your credit.

Exceptional Credit Average Credit Bad Credit
Monthly Payment $204 $204 $204
Loan Rate 3.50% 7.00% 11.00%
Car Price $14,039 $12,898 $11,747
Down Payment $2,808 $2,580 $2,349
Interest Paid $1,028 $1,941 $2,862
Price with Interest $15,067 $14,839 $14,609