When it comes to getting a car loan in San Francisco, we offer unrivaled speed and service. We have access to a diverse network of dealers and lenders, and we have agents standing by, expecting your application. It’s tough to envision an easier way to purchase your next car.
San Francisco Dealerships That Accept Bad Credit
If you are searching for a dealership that funds loans for consumers with poor credit, you’re in luck. Unlike buy here pay here dealers, these types of dealerships offer:
- Realistic APR rates.
- Manageable down payments.
- New and pre-owned vehicles.
The dealer will review your credit and income to establish which cars you qualify to finance. As a way to reduce the risk of late payments or repossession, purchase a vehicle that won’t stretch your budget, having a payment that’s equivalent to 10% of your income or less. If you get paid $2,162 per month, this comes to a payment of $216.
A dedicated finance specialist can help you determine how much you’re qualified to borrow, and at what rate. In order to talk with one, be sure you submit your application.
New or Pre-owned Car
Many buyers end up asking this question: is a new or used car the way to go? A brand new vehicle is worth just 75-80% of its retail value after the first year of ownership, and after 36 months, 50%, meaning you can usually get a better deal when you purchase used.
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Buy Here Pay Here Car Dealers in San Francisco, CA
Commonly known as buy here pay here, tote the note, or your job is your credit car dealers, these establishments ordinarily have a few main features:
- They offer auto loans on site.
- They don’t pull your credit.
- They demand weekly or biweekly payments, often in person.
Often consumers with really horrible credit think that an in house financing car lot is the only place that will be willing to take their credit, despite the fact that California poor credit auto loans from credit unions and banks typically involve lower rates.
Re-establishing Your Credit in San Francisco
Not only will a car loan supply you with the money necessary to get your car, it can help you get your credit back in line. Getting a car financed:
- Provides you with the chance to spruce up your payment history (35% of your score).
- Improves your credit mix, or the array of credit types in your profile (10% of your score).
On the reverse side, it’s possible to damage your credit by missing your payments. It’s easy to underestimate the benefits of a better FICO score. It makes life so much less difficult and more affordable, and you just have to pay your bills on schedule month after month.