Auto Loans in Westminster (CA)

If you’d like an auto loan in Westminster, you need a lender and dealer you can rely on. For years, we’ve been securing a network of dealers and lenders across the nation, and we are experts in getting you approved by the lender that is most likely to fit your needs. You will enjoy the convenience of working with a committed finance professional to help answer the questions you have and line up your loan.

New and Preowned Car Loans in Westminster

There are a few things to take into account when shopping for a new car, truck, or SUV. Preowned cars and trucks can be a headache, because you have to make sure not to get a car that hasn’t been treated well, while new cars are certain to provide you tens of thousands of miles of trouble-free cruising. But remember that the bulk of the zero interest finance deals you see on television are with approved credit, so only the highest-rated consumers are eligible. If you’re unsure, a vehicle finance specialist will help you decide if a new our used vehicle is the right choice.

Auto Loans for Preowned Cars in Westminster

Buying preowned doesn’t mean you can’t get a solid, low mileage vehicle. Some consumers discount preowned vehicles for having higher rates of interest, but bear in mind that they are cheaper in upfront cash and over time. For anyone who is anxious about repairs and maintenance, make sure you find yourself late model vehicle with excellent ratings when it comes to reliability. Below, we have assembled some data that will help you decide whether you should get a vehicle that’s new or used. These numbers rely on the following assumptions:

  • Three year old used vehicle.
  • Credit score of 690 to 720.
  • Down payment of 20% for new car, 10% for used.
  • Fixed APR.
New Car Used Car
Price $13,800 $6,900
Down Payment $2,760 $690
Loan Rate 5.00% 7.50%
Months 60 48
Monthly Payment $208.34 $150.15
Interest $1,460 $997
Total Paid $15,260 $7,897

Westminster Car Loans for Bad Credit

Credit score is very important when you finance a car not just in Westminster, but everywhere. Has yours had better days? There’s good news, though: there are finance companies and dealerships in Westminster that fund loans for people who have credit problems. When you apply online through us, our team works to find you a lender or dealer in your area who wants to finance your credit.

Don’t forget, financing a car can increase your credit score by establishing a record of timely payments. In contrast, missing one simple payment can drop your score dramatically.

Spend 8% of your monthly income, and no more, for your car payment. For people in Westminster who earn $1,380 per month, this is $110.

Westminster Buy Here Pay Here Dealerships

The buy here pay here industry keeps growing, mainly because so many consumers’ credit scores were impacted by the housing market and slow economy. These dealers will approve almost anybody, regardless of their credit, but there are downsides. Cons include:

  • Extortionate Finance Fees
  • Exorbitant Down Payments
  • Overpriced Cars and Trucks
  • Aggressive Repossession Tactics

Is raising your credit a priority for you? Then you are better off applying through us, since BHPH dealerships won’t help you in boosting your credit.

Loan Amounts for Westminster Consumers

Most lending companies look at your credit and income to determine the maximum amount they’ll lend you. Have a look at these numbers based off of an income of $1,380 per month, which is the average in Westminster.

Credit Income Factor Amount
Excellent Credit 10 $13,800
Average Credit 9 $12,420
Temporary Bad Credit 8 $11,040
Poor Credit 7 $9,660
Terrible Credit 6 $8,280

It’s smart to finance less than you can, as a way to leave space in your budget for emergencies. Have you wondered how much car you really can afford? Have a look at the chart below. The interest rates have been estimated, and the amounts are based on a yearly income of $16,562, the Westminster average. Loan length is 60 months.

Exceptional Credit Fair Credit Bad Credit
Monthly Income $1,380 $1,380 $1,380
Payment $110 $110 $110
Loan Rate 3.50% 7.00% 11.00%
Repayment Period 60 Months 60 Months 60 Months
Car Price $7,586 $6,969 $6,347
Money Down $1,517 $1,394 $1,269
Interest Paid $555 $1,049 $1,546
Total Amount Paid $8,141 $8,018 $7,893

Ready to Get Approved?

No matter your credit, it’s our mission to help you get the funding you need. Apply online, and we’ll get you approved. It’s fast, safe, and risk-free.