Auto Loans in Tracy (CA)

Interested in buying a new or used car? Like the majority of Americans, it’s likely that you need an auto loan. Our market experience is second to none, and we have agents ready to fund your loan. It really is hard to envision an easier way to secure the financing you need.

Tracy Car Loan Rates

The rate of interest on your car loan is determined by, as you probably know, your credit history, your lender, and the vehicle being financed. To see the importance of your interest rate, have a look at the difference in total interest on this loan, given a 5-year, $10,320 loan:

  • 3.50% APR: $944 in interest.
  • 11.00% APR: $3,143 in interest.

To get a definitive estimate of your interest rate, you really need to consult a finance specialist.

Used Car Loans in Tracy

Used vehicles offer several important merits:

  • Lower principal on the loan.
  • Cheaper insurance rates.
  • Shallower rate of depreciation.

Preowned vehicles command higher interest rates, but down payments are much less than what they are for new cars and trucks of the same price. Even if you are upside-down on a used car or truck, it will typically be for a shorter amount of time. To get the best of all possible worlds, consider a certified used car.

Tracy Bad Credit Car Loans

Below-average credit results in:

  • Steeper loan rates.
  • Greater down payments.
  • Shorter finance terms.

While problematic credit can make it tougher to buy the car you’d like, it is certainly not hopeless. When you apply for financing through Golden West Auto Finance, our team works to find you a dealer or lender within driving distance who wants to accept you as a client.

Don’t forget, a car loan, if paid as agreed, can strengthen your credit score in as little as a year.

On the other hand, a single missed payment can decrease your score significantly. Determining the ideal payment amount is crucial. As an example, let us suppose you earn $1,290 per month, the average for Tracy residents.

  • Low Payment: $65 (5%)
  • Intermediate Payment: $103 (8%)
  • Max Payment: $129 (10%)

Buy Here Pay Here Financing in Tracy, CA

When you’ve got severe credit problems on account of issues like bankruptcy or foreclosure, a buy here pay here dealer could possibly appear to be the only option. Dealers like these will approve practically anybody, no matter their credit, but there are disadvantages. Regrettably, you should expect excessive loan rates, huge down payments, and cars and trucks that are too expensive for how much mileage and wear they have been through. If improving your credit score is important to you, you should contact a vehicle finance specialist through us, as BHPH dealers won’t help you in boosting your credit.

Tracy Income and Finances

  • Annual Income: $15,477
  • Monthly Income: $1,290
  • Typical Car Payment: $142
  • Suggested Monthly Payment: $65 to $129 (5-10% of monthly income)

Tracy Car Loans Based on FICO Score

Here we have a chart revealing what car you can afford with a monthly payment of $103, 20% down payment, and 60 month term.

Good Credit Average Credit Subprime Credit
Payment $103 $103 $103
Rate 3.50% 7.00% 11.00%
Months 60 60 60
Sticker Price $7,091 $6,515 $5,933
Money Down $1,418 $1,303 $1,187
Interest Paid $519 $980 $1,446
Price with Interest $7,610 $7,495 $7,379

Ready to Have Your Credit Approved?

No matter your credit, we’re ready to help you obtain the funds you need. Apply online, and we’ll get you approved. It’s quick, safe, and there’s nothing to lose.