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Auto Loans in Aliso Viejo (CA)

Financing a car with bad credit was once extremely difficult – until we came along and made it easy to get approved by a bad credit car dealership in Aliso Viejo, California. Though lots of lending institutions have been declining people with bad credit, we have many dealerships and automobile lending companies in our network who finance auto loans with bad credit in Aliso Viejo. Each day, we help folks in Aliso Viejo get approved for the cars they want in spite of challenges like:

Bad Credit Auto Loans Aliso Viejo California
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  • Poor Credit
  • No Credit History
  • Bankruptcies

It’s our mission. Want to get going? Follow this link to submit your application.

Aliso Viejo Car Lots for Bad Credit

Assuming you have adverse credit, dealer financing is likely the way to go, considering that most all the banks in the area won’t be able to lend you the funds you need. On the other hand, there are dealers with lending professionals who can help you get financed. When compared with a buy here pay here dealer, such dealers typically offer:

  • Less owed on the lot, as a down payment.
  • Less expensive rates of interest.
  • Option to strengthen your credit score.

The dealer will evaluate your credit and income to establish which vehicles you’re qualified to finance. So as to forestall loan delinquency or repossession, find a vehicle that won’t strain your finances, having a payment equivalent to 10% of your income or less. If you get paid $3,372 per month, this would be a payment of $337.

Apply online to find out how much car you can afford.

Should You Purchase a Used Vehicle?

The majority of people are able to finance a new or used vehicle, but what’s the best option? A brand new vehicle loses 20% of its value during the first year of ownership, and 50% after three years. That is why you can often get more car by purchasing pre-owned.

New Car Used Car 1 Used Car 2 Used Car 3
Age New 1 year old 2 years old 3 years old
Price $33,720 $25,290 $20,232 $16,860
Down Payment $6,744 $2,529 $2,023 $1,686
Loan Rate 5.00% 7.50% 7.50% 7.50%
Months 60 48 48 48
Monthly Payment $509.07 $550.34 $440.27 $366.89
Interest Paid $3,568 $3,655 $2,924 $2,437
Total Paid $37,288 $28,945 $23,156 $19,297

Aliso Viejo Buy Here Pay Here Dealerships

Buy here pay here car dealers normally deal with people who have serious credit problems like:

  • Bankruptcy
  • Involuntary Repossession

Such dealers approve financing on site, while conventional dealers utilize one of their affiliated lenders, and they typically don’t do credit checks. Sadly, you should be prepared for excessive annual percentage rates, expensive down payments, and cars and trucks that are too expensive for the number of miles they have. If maximizing your credit score is important to you, and it ought to be, you are better off applying through us, since BHPH car lots will not help you boost your credit.

Rules of Thumb for Financing

It’s always best to devote no greater than 10% of your monthly income for the payment on the car you’re buying. In addition, aim to pay off this vehicle in not more than 60 months. With this payment and repayment period, you will be purchasing a car or truck which costs around half of what you make on an annual basis (pre-tax). For Aliso Viejo residents, having incomes of $40,468 per annum, this is an automobile costing $20,232. Unlike other assets, an automobile does not appreciate with time, meaning it’s best to invest as little as you can to obtain a reliable car.

New And Used Cars in Aliso Viejo, CA

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