Auto Loans in Villa Park (CA)

The cost of a new car keeps rising, so it is crucial to line up your financing through lender you can trust. We’ve spent years securing a network of lenders and dealers across California, and we specialize in connecting you with the lender who suits you best. We assign you a financing professional whose job it is to get you approved for the car you want.

You Decide: New versus Used Car Loans in Villa Park

Brand new cars and trucks cost a whole lot, and they lose value at an incredible rate. Because of this, they are best for people who are capable of satisfying the following conditions. You have 20% down payment either in cash or trade, and you aren’t considering trading in this vehicle before it has been paid off. New cars take a long time to pay off, so if you get bored with your car on a fairly regular basis, you should think about leasing a car.

Used Car Financing in Villa Park

Pre-owned vehicles have significant advantages over new ones. Lenders will charge you slightly higher loan rates on used vehicles, but down payments are much less than what they are for brand new vehicles that are similarly priced. Maintenance concerns can be alleviated by buying a late model vehicle or investing in a new warranty. To help you decide whether a new or used car loan is the right choice, we have created this helpful table. These estimations rely on these assumptions:

  • New car costs $74,870.
  • Three year old used vehicle.
  • Credit score of 690 to 720.
  • 20% down payment for new car, 10% for used.
  • Fixed APR.
New Car Used Car
Price $74,870 $37,435
Down Payment $14,974 $3,744
Interest Rate 5.00% 7.50%
Months 60 48
Monthly Payment $1,130.31 $814.62
Interest Paid $7,923 $5,410
Total Paid $82,793 $42,845

Bad Credit Villa Park Auto Loans

Less-than-perfect credit has a number of drawbacks:

  • You will have to pay more in total interest.
  • You have to put more money down.
  • You have to finance for shorter terms.

Clearly, you don’t want to waste a lot of time looking for a company in Villa Park that works with bad credit borrowers. This is where we can help. We specialize in serving consumers who have credit problems of all kinds, getting them approved for the loans they need.

Dealerships for Bad Credit in Villa Park

Discussing your auto loan, not selecting your car or truck, typically comes first at dealerships that finance bad credit.

If you apply through us, you can arrange your finance package on the telephone, then select a day for you to visit the dealership and purchase your vehicle. If at all possible, your monthly payment should be equal to just 5-8% of your gross income on a monthly basis. As an example, a resident of Villa Park who earns $7,487 on a monthly basis, the average, should plan to set aside no more than $374 to $599.

Buy Here Pay Here Dealers in Villa Park, CA

Thinking about heading to a buy here pay here dealer to get approved? Normally, there are considerably better options. Such dealers offer car loans in-house, while traditional dealerships outsource this, and they finance just about everyone. Most often, used vehicles are the only thing on the lot, and you may be required to make payments weekly, at the lot. Repossession is common, and the interest rates have been judged predatory by many consumer proponents. Is boosting your credit a priority for you? If so, you should submit your application through us, as BHPH dealers won’t aid you in re-establishing your credit.

Loan Pre-approvals for Villa Park Residents

Want to know what size car loan you’ll be able to secure based on factors such as your credit and income? These amounts are based on an income of $7,487 on a monthly basis, the average among Villa Park residents.

Credit History Income Factor Loan
Good Credit 10 $74,870
Decent Credit 9 $67,383
Temporary Bad Credit 8 $59,896
Poor Credit 7 $52,409
Horrible Credit 6 $44,922

Remember that it’s a mistake to borrow more than you really need, simply because you are able to. Have you determined how much car is within your budget? Check the estimations below, but bear in mind the rates of interest are only estimations, and the numbers assume a yearly income of $89,848, the average in Villa Park. Repayment term is 5 years.

Great Credit Decent Credit Poor Credit
Payment Amount $599 $599 $599
Loan Rate 3.50% 7.00% 11.00%
Months 60 60 60
Car Price $41,156 $37,811 $34,435
Money Down $8,231 $7,562 $6,887
Interest Paid $3,013 $5,689 $8,390

Your Auto Loan is Waiting!

No matter your credit, we work hard to help you obtain the funding you need. Apply online, and we’ll get you approved. It’s fast, safe, and there’s no fee.