Auto Loans in Studio City (CA)

In today’s times, many people in Studio City are arranging their financing before visiting the dealer lot, as it addresses almost all of the typical hurdles from the car-buying experience. Our experience in the auto finance market is unequalled, and we have some of the best approval rates in the market. Let us match you with a lending specialist who can help you arrange the auto loan you need for the vehicle you want.

Credit Acceptance for Studio City Car Shoppers

  • Be sure you make no less than $750 each two weeks.
  • Furnish down payment of 10%-20%.
  • File a dispute against any inaccuracies on your credit report.

Financing a Car with Bad Credit in Studio City

Below-average credit results in:

  • Lofty annual percentage rates.
  • Higher down payments.
  • Shorter financing terms.

Although problematic credit might make it tricky to purchase a new or used car, it’s certainly not hopeless. That’s where we come in. At Golden West Auto Finance, we serve clients at every point on the credit spectrum, helping them secure the loans they need.

A big portion of your credit score relies on your record of payments. That means an auto loan, being a large loan, can help you increase your credit. So as to prevent missed payments, explore options such as scheduled payments. Determining the ideal payment amount is essential. As an example, let’s pretend you make $3,101 per month, the average for Studio City residents.

  • 5% of Income: $155 (Ideal)
  • 8% of Income: $248 (Okay)
  • 10% of Income: $310 (Maximum)

Buy Here Pay Here Financing in Studio City, California

Considering heading to a buy here pay here dealer for approval? Ordinarily, there are more attractive alternatives. Dealers like these will finance just about anybody, regardless of their credit, but there are downsides.

Most often, higher-mileage cars and trucks are the only thing available, and you may be required to have a GPS tracker mounted in your vehicle. The rates of vehicles being repossessed are staggering, as are the interest rates. There’s more: these car lots almost never report to the credit agencies, so you could make all of your payments in a timely manner without any lift in your FICO score.

Loan Amounts for Studio City Consumers

Need to know how much you can finance based on factors like your credit and income? We’ve provided a table depicting potential pre-approvals for someone with an income of $3,101 per month, the average in Studio City, California.

Credit Multiplier Amount
Great Credit 10 $31,010
Average Credit 9 $27,909
Subprime Credit 8 $24,808
Bad Credit 7 $21,707
Horrible Credit 6 $18,606

It’s best if you finance less than you can, just to keep your costs low. Have a look at this table revealing what car you can afford with a payment per month of $248, 20% down payment, and 5-year term.

Exceptional Credit Fair Credit Poor Credit
Car Payment $248 $248 $248
APR 3.50% 7.00% 11.00%
Term Length 60 Months 60 Months 60 Months
Sticker Price $17,046 $15,661 $14,262
Down Payment $3,409 $3,132 $2,852
Loan Amount $13,637 $12,529 $11,410
Interest Paid $1,248 $2,356 $3,475