Auto Loans in Union City (CA)

Financing a car is a big commitment, so it is essential to finance through a dealer you can trust. We serve buyers in Union City and throughout California who wish to get in touch with a dealer or lender who can accept them based on their income, credit, and down payment. Enjoy the convenience of working with a committed financing expert who can help answer your questions and arrange your loan.

Cars Both Used and New in Union City

Have you made up your mind which you’re going to buy: a new vehicle or not? What follows is an analysis of how much it costs to finance a vehicle that is brand new, as opposed to one which is 1-3 years old.

New Car 1 Year Old 2 Years Old 3 Years Old
Depreciation 0% 25% 40% 50%
Price $59,890 $44,918 $35,934 $29,945
Owed Upfront $11,978 $4,492 $3,593 $2,995
Interest Rate 5.00% 7.50% 7.50% 7.50%
Months 60 48 48 48
Monthly Installment $904.16 $977.45 $781.96 $651.63
Total Interest $6,338 $6,492 $5,193 $4,328
Overall Cost $66,228 $51,409 $41,127 $34,273

Are you ready to find a lending company and get approved for a loan? Go here to submit your application.

Considerations for People in Union City with Bad Credit

Traditional lenders like banks and credit unions usually fund loans only for those with scores of 700 at least. Thankfully, there are lenders and dealers in Union City that approve financing for credit-challenged consumers. We can help. At Golden West Auto Finance, we serve clients all across the credit spectrum, getting them approved for the loans they need.

Union City Bad Credit Car Dealers

Seeking out a car with economical monthly installments is very important, , especially when you will have a high rate of interest thanks to bad credit.

So as to fulfill the approval criteria, you will typically have to furnish a few particulars such as proof of income, proof of residence, and driver’s license. Don’t be tempted into getting a car that’s higher in price than you anticipated. Spending more than you should puts you at a higher risk of default, which would only do more harm to your credit..

Buy Here Pay Here Auto Loans in Union City, California

Perhaps you have thought about financing a car through a BHPH dealer because of bad credit? Normally, there are better options. Dealers like these will approve almost anyone, no matter their credit, but there are negatives.

Negatives include:

  • Excessive Interest rates
  • Extortionate Down Payments
  • Overpriced Autos
  • GPS Tracking Devices

Is elevating your credit important to you? If so, you should apply online through us, since BHPH car lots will not help you rebuild your credit.

Securing Funds for a Car in Union City: Loan Amounts

The amount you can borrow is based on your income and credit. Have a look at these amounts for the average Union City consumer who has a monthly income of $5,989.

Credit History Multiplier Sum
Good Credit 10 $59,890
Average Credit 9 $53,901
Temporary Bad Credit 8 $47,912
Bad Credit 7 $41,923
Horrible Credit 6 $35,934

It’s smart to finance less than you can. In this way, you can save some income for emergency situations. The exact amount you should invest in a car hinges on a plethora of factors. The estimations in the chart below derive from a monthly payment of $479, which is 8% of the average consumer’s monthly income in Union City, together with a 20% down payment and 60 month repayment terms. Rates of interest are approximate.

Excellent Credit Average Credit Subprime Credit
Payment Amount $479 $479 $479
APR 3.50% 7.00% 11.00%
Car Price $32,922 $30,246 $27,545
Down Payment $6,584 $6,049 $5,509
Amount Borrowed $26,337 $24,197 $22,036
Total Interest $2,410 $4,551 $6,711
Price Paid with Interest $35,332 $34,796 $34,256

Your Union City Car Loan is Waiting!

We have dealers and lenders who are ready to approve you for financing. We will place your application with a finance manager from a dealer or lender located in Union City.