Auto Loans in Walnut (CA)

Interested in buying a new or preowned car or truck? If you are, it’s likely that you need an auto loan. We allow you to apply for financing through our 50-state network of dealers and lenders. You will enjoy the convenience of having a dedicated financing professional to answer any questions you have and set up your loan.

Financing Recommendations for Walnut Borrowers

  • Enter accurate information on your application.
  • Pay off as much of your unsecured debt as you possibly can, to decrease your debt-to-income ratio.
  • Finance for no more than 60 months.

Bad Credit Walnut Auto Loans

Regular lenders like banks typically only finance individuals with good credit. That is, scores of 700 or more. While low credit scores could make it tougher to finance a new or used car, it’s not impossible. We have the solution. We serve people at every point on the credit spectrum, helping them secure the loans they need.

Trying to find a car for which you can get approved at an acceptable rate is pivotal, , especially if you will have a high rate of interest resulting from credit problems.

Car dealerships have been known to charge more costly rates than they have to, remember to inquire about the rate offered by the lender. Avoid being tempted into purchasing a car or truck that’s higher in price than you anticipated. Keep in mind, you’ve got a credit score to re-establish.

Buy Here Pay Here Dealers in Walnut, CA

Considering a buy here pay here dealer because of bad credit? Normally, there are better options. Most dealer financing isn’t direct to the consumer, as dealers work with off-site banks and lenders to provide the loans, but buy here pay here dealers provide funding themselves. Negatives include:

  • Excessive APR Rates
  • Overpriced Down Payments
  • Overpriced Cars and Trucks
  • GPS Tracking Devices

As if that weren’t enough of an issue, these dealers seldom work with the credit reporting agencies, and that means you could make each and every payment when they’re due without any lift in your FICO score.

Walnut Income and Finances

  • Income Per Year: $24,647
  • Income Per Month: $2,054
  • Average Car Payment: $226
  • Recommended Monthly Payment: $164 (8% of monthly income)

Take a look at this chart, which shows you what price car you can afford based on your credit rating, along with an income of $2,054 on a monthly basis, 5 year repayment, and a down payment of 20%.

Excellent Credit Fair Credit Bad Credit
Income Per Month $2,054 $2,054 $2,054
Monthly Installment $164 $164 $164
Loan Rate 3.50% 7.00% 11.00%
Car Price $11,291 $10,373 $9,447
Money Down $2,258 $2,075 $1,889
Note Size $9,033 $8,298 $7,558
Interest Paid $827 $1,561 $2,302
Price with Interest $12,117 $11,934 $11,749

Talk to a Finance Manager Today

There are lenders and dealers who are prepared to approve your loan. Get in touch with an auto finance expert nearby now.