Auto Loans in Yorba Linda (CA)

You’re smart to look for financing before you head to the dealership, as there are many advantages:

  • A shorter time on the dealer lot.
  • Possibility of a reduced interest rate.
  • Your own dealer appointment.

We serve shoppers in Yorba Linda and across the state of California, helping them line up their financing via the internet. You will be led one step at a time through the process by a financing professional based where you live.

Financing Guidelines for Yorba Linda Borrowers

  • You should earn a minimum of $1500 a month.
  • Offer a down payment of no less than 10%.
  • Choose a loan of no more than 5 years.

Yorba Linda Bad Credit Car Loans

Have a bad credit score resulting from delinquent bills, job loss, divorce, or even bankruptcy? Although problematic credit could make it tougher to finance a new or used car, it is certainly not out of the question. We can help. At Golden West Auto Finance, we serve consumers who have credit problems of all kinds, getting them approved for the loans they need.

Checking for Errors on Your Credit Report

Credit report discrepancies are actually quite widespread. Have you ensured that your credit report is devoid of mistakes?

You should review your credit history a minimum of once per annum. Not doing this could bring about higher rates, smaller sized loans, and less chance for being approved.

Yorba Linda Buy Here Pay Here Car Lots

Buy here pay here car dealers ordinarily deal with people who’ve got significant credit problems like:

  • Chapters 7 or 13
  • Auto Repossession
  • Debt Settlement
  • IRS Liens

Most of the time, dealer financing isn’t direct to the consumer, in that dealers work with banks and lenders with whom they have relationships to provide the loans. In contrast, buy here pay here dealers engage in direct lending. They decide who gets approved on-site, generally with no credit check.

Drawbacks include:

  • Inflated Finance Fees
  • Huge Down Payments
  • Steeply-Priced Vehicles
  • Ignition Kill-Switches

That isn’t all: these dealers almost never report to the credit reporting agencies, which means you could make all of your payments when they’re due without reviving your credit score.

Securing Funds for a Car in Yorba Linda: What Amount Can You Borrow?

Have a look at the maximum loan amount you’ll be qualified to finance given your credit. These amounts incorporate an income of $5,170 a month, which is typical of the average Yorba Linda resident.

Credit Income Factor Amount Borrowed
Great Credit 10 $51,700
Fair Credit 9 $46,530
Subprime Credit 8 $41,360
Poor Credit 7 $36,190
Terrible Credit 6 $31,020

The amount you can borrow, and the amount you should, are two separate things. To conclude, the ideal funding arrangement is as follows: down payment of 20%, car payment of 8% of monthly income, and term length of 5 years or less. Given an income of $5,170 per month, let’s look at the amount you could spend based upon your credit.

Great Credit Average Credit Poor Credit
Car Payment $414 $414 $414
APR 3.50% 7.00% 11.00%
Loan Term 60 Months 60 Months 60 Months
Purchase Price $28,419 $26,110 $23,778
Down Payment $5,684 $5,222 $4,756
Interest Paid $2,080 $3,928 $5,793
Total Investment $30,500 $30,038 $29,572

Contact a Finance Professional Near You!

There are dealers and lenders who are willing to approve your credit. A finance manager will lead you through the lending process, helping you get financed at a reasonable rate.