In Placentia, you have several options for getting a car loan, but our service is unmatched, particularly when your credit isn’t as good as it used to be. Instead of waiting until you are in a high-pressure situation at the dealership, we allow you to line up a car loan in advance. Let us match you with a lending professional who can help you line up the car loan you need for the vehicle you prefer.
Placentia Car Lots for Bad Credit
Have you considered where to buy your new car or truck? With adverse credit, you’ll probably have to buy from a dealer, as opposed to a private party, since lenders hardly ever offer private party loans for people with sub-standard credit. Fortunately, there are dealers that cater to below-average credit. Whenever you have bad credit, expect increased rates of interest, heftier down payments, and smaller loans. However, it’s a lot better than any alternative, and these dealers can help you build up your credit by establishing a positive payment history. We work with many of these dealerships, and they want to get you the car you want. Just go here to apply online.
Is a New Vehicle a Good Idea?
New car? Used car? The choice is yours. In many cases, a pre-owned vehicle is the better choice. The interest rates on new cars are lower, sure, but used vehicles are substantially less expensive.
|New Car||Used Car|
|Age||New||3 Years Old|
|Length||5 years||4 years|
Tote The Note Car Lots in Placentia, CA
Maybe you’ve thought about getting your auto loan at a buy here pay here car lot in Placentia? These Placentia in house financing dealers don’t rely on banks or credit unions for financing, so they’re able to work with a diverse range of shoppers. For people with terrible credit, Placentia buy here pay here car dealers are sometimes the only option. But bear in mind, the annual percentage rates are much higher than you’d be given by a traditional lender. Aside from that, they rarely report payments to the credit reporting agencies, which means your credit rating will not improve even if they pay off the loan as scheduled.
Financing Guidelines for Placentia Borrowers
If you want a car that fits your finances, you should spend only about 8-10% of your monthly income on this car loan. On top of this, plan to repay your loan in no more than 5 years. This will translate to a car costing about 50% of your yearly income. For instance, if you make $31,683 a year, the average for residents of Placentia, you would buy a car that costs $15,840. But keep in mind, this is the maximum amount you ought to spend. Quite a few experts advocate spending even less, just 10-30% of your income for a car.