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Auto Loans in Livermore (CA)

Looking to buy a new or used car? Like most Americans, there’s a good chance you need an auto loan to cover the full cost of the vehicle. We work with an extensive network of dealers and lenders, and that means we can help applicants of every credit type and budget. It really is difficult to envision a more convenient way to get approved for your next car.

Bad Credit Car Dealerships in Livermore, California

If you’ve got below-average credit, dealer financing is likely your best option, because most all the banks won’t be able to finance you. Then again, there are dealers that can get you the loan you need at at a rate you can afford. Contrary to buy here pay here dealers, these dealers offer:

  • Interest rates that are fair.
  • Down payments based on the vehicle’s worth.
  • New vehicles, not just pre-owned ones.

You may not be eligible to finance all the cars in the showroom. Ordinarily, when you have credit problems, you can finance six to eight times your monthly income. For residents of Livermore making $3,126 a month, this is $18,756 to $25,008. However, it’s smarter to borrow less than you can, limiting your monthly payment to 10% of your income–$313, in our example.

An experienced finance specialist is standing by, waiting to determine how much you’re qualified to borrow, and at what rate. If you’d like to speak to one, make sure you apply online.

Used or New Vehicle?

A lot of consumers in Livermore aren’t aware that you can finance a second-hand vehicle, not just one that’s brand new. A new car drops 20% in value during the first year of ownership, and after 36 months, 50%, so you can usually 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
Vehicle Price $31,260 $23,445 $18,756 $15,630
Down Payment $6,252 $2,345 $1,876 $1,563
Interest Rate 5.00% 7.50% 7.50% 7.50%
Term 60 months 48 months 48 months 48 months
Payment $471.93 $510.19 $408.15 $340.12
Finance Fees $3,308 $3,388 $2,711 $2,259
Total Outlay $34,568 $26,833 $21,467 $17,889

Buy Here Pay Here Financing in Livermore, CA

Considering a buy here pay here dealer on account of bad credit? Ordinarily, there are more attractive alternatives. In most cases, dealer financing is indirect, as dealerships work with banks and lenders with whom they have relationships to finance the loans. On the other hand, BHPH dealers don’t. They are the actual loan originator.

Unfortunately, you should be prepared for exorbitant interest rates, large down payments, and high mileage vehicles that are overpriced. There is a good reason why these dealers don’t have a great reputation. We can connect you with dealer finance professional who can get you in the driver’s seat of an excellent car or truck, even if you’ve had to file bankruptcy.

What Car to Buy?

The best car, with regards to price, will depend on your income and FICO score. Take a look at these estimations, displaying how much car the average Livermore consumer can afford based on an income of $3,126 each month, a payment of $250, and a repayment term of 60 months.

Great Credit Okay Credit Poor Credit
Monthly Installment $250 $250 $250
Interest Rate 3.50% 7.00% 11.00%
Down Payment $3,437 $3,157 $2,875
Total Interest $1,258 $2,375 $3,503
Total Paid $18,442 $18,162 $17,880
Purchase Price $17,184 $15,787 $14,377

Used Cars in Livermore for Sale

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