Have you been turned down for an auto loan as a result of credit troubles? It’s smart to find a lending company who won’t just finance your credit, but give you the opportunity to rebuild it. We’re proud to have access to an unparalleled network of dealers and finance companies that fund loans for a varied range of borrowers, not just those with credit scores over 750.
Your auto finance professional will help you arrange your loan, so all you have to do is head to the your dealer’s lot and select the car you want. Feel free to contact a qualified finance specialist.
Bad Credit Car Dealers in La Jolla, CA
For anybody who is searching for a dealership in La Jolla that will finance low credit scores, your search is over. Unlike buy here pay here dealers, these types of dealerships offer:
- Manageable interest rates.
- More reasonable down payments.
- Lower mileage vehicles.
The dealer will review your credit and income to decide the specific cars you’ll be able to finance. We suggest you buy a vehicle that won’t empty your savings, with a payment that equates to 10% of your income–at the most. If you make $1,145 a month, this translates to a payment of $115. Submit an application to talk with an auto finance expert about how much you can borrow.
Can You Get Financed with No Down Payment?
A down payment, as you know, is the amount you have to pay in advance, in cash or trade equity, on the day you purchase any vehicle that’s financed. When you finance a car, you are racing against depreciation. When the your vehicle isn’t worth as much as you owe, then you’re under water on it. A down payment works against depreciation.
Having said that, we realize that saving 10-20% of the purchase price of a new car isn’t a quick or easy undertaking. However, you can sell your existing car or truck in the La Jolla classifieds and use what you make as a down payment. Otherwise, you could trade it in at the dealership.
Buy Here Pay Here Dealers in La Jolla, CA
Considering BHPH financing because of bad credit? Normally, there are more attractive alternatives. They don’t conduct credit checks, so bad credit probably won’t be an impediment to approval, but chances are high you’ll pay more than you should in terms of down payment and interest rate. Disadvantages include excessive annual percentage rates and older vehicles and weekly payments Is improving your credit a concern for you? Then you are better off applying through us, since buy here pay here dealerships can’t help you increase your credit.
Will a Car Loan Elevate Your FICO Rating?
It’s not a myth: a car loan can really improve your credit. The main factor is your payment history, a primary part of the credit scoring matrix, and financing a car involves 36-72 months of payments. Of course, increases in credit score are gradual, developing in the course of months, even years. Of course, the advantages of a better score are enormous:
- Cheaper APRs.
- Less expensive insurance rates.
- Ability to refinance existing credit lines.
- Quicker loan approval.