If you want to finance a car in Chula Vista, you need a bank or lender you can trust. For years, we’ve been establishing a network of dealers and lenders across California, which means we can help applicants get pre-approved for a car loan, even if their credit isn’t the best. We connect you to a financing professional who’ll guide you through the process.
Bad Credit Car Dealerships in Chula Vista, CA
If you are trying to find a dealership that funds loans for people who have low credit scores, you’ve come to the right place. As compared with a buy here pay here car lot, such dealers can offer far better loans, financed by actual banks and lending companies. Your income and credit will determine the cars you’re eligible to finance. Here’s an example based on an income of $3,053 per month, the average in Chula Vista:
- Excellent Credit: $30,530 (Income x 10)
- Fair Credit: $27,477 (Income x 9)
- Sub-Standard Credit: $24,424 (Income x 8)
- Poor Credit: $21,371 (Income x 7)
- Horrible Credit: $18,318 (Income x 6)
These are simply estimations. You may qualify to borrow more or less. Apply online to find out how much car you can afford.
Purchasing a Car in Chula Vista with No Money Down
Looking to finance a new car or truck, but you haven’t got any money down? Dealers and lenders like you to offer money upfront, mainly because it will minimize risk built into the loan. For you, this means a reduced rate of interest and improved terms.
The good news is, the trade allowance from your old car or truck can usually be used toward your down payment, so you can effectively finance a car without putting down any money out of pocket.
Buy Here Pay Here Dealerships in Chula Vista, CA
Maybe you’ve thought of getting approved through a buy here pay here car dealer in Chula Vista? Such Chula Vista bad credit dealers offer financing themselves, usually with no a credit check. Because they don’t rely on a bank or credit union for approval, they can assist a wider array of consumers. A lot of consumers with really terrible credit believe that a buy here pay here car lot is the only place that will be willing to approve their credit. But keep in mind, the rates of interest are a lot higher than a loan from the bank. Aside from that, they hardly ever report payments to the credit agencies, which means your credit rating will not go up as a result of the loan.
Budgeting Recommendations for Chula Vista Borrowers
If you want to make the right financial move, you should spend no more than 10% of your monthly income on your car payment. At the same time, you don’t want to finance for more than 5 years. This will get you a vehicle which costs around 50% of what you earn annually. Here in Chula Vista, where the average income is $36,633 per year, the average consumer would buy a vehicle which costs $18,318. By and large, the less you’re able to spend while still getting a dependable vehicle, the better.