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Auto Loans in San Juan Capistrano (CA)

Bad credit is an issue for roughly 25% of California car-shoppers. Nobody knows the frustration of buying a car with credit problems like us. Here’s how the process works:

  1. You, the borrower, submit an application online.
  2. Our cutting-edge placement engine connects you to a car lender.
  3. Your loan provider contacts you about completing your San Juan Capistrano bad credit car funding deal.

Bad Credit Car Dealerships San Juan Capistrano California

San Juan Capistrano Car Lots That Approve Bad Credit

Have you given thought to where to buy your next car or truck? If you’ve got weak credit, you typically need to get your car from a dealer, as opposed to a private seller, simply because lenders hardly ever provide these types of loans for people with credit problems. Thank heavens there are dealerships that cater to adverse credit. Whenever you have below-average credit, expect:

  • Interest rates that are more expensive.
  • Down payments that are bigger.
  • Payment terms that are shorter.

With that being said, the rates and terms are much better than you would get at a used lot that does in-house financing with no credit checks. We work with many such dealerships, and they want to get you in the driver’s seat of the car you deserve. Go here to submit your application.

New or Used: What’s the Way to Go?

Many shoppers can qualify to finance either a new or used car. Oftentimes, a pre-owned vehicle is a better deal. The interest rates on new cars are more affordable, yes, but used cars are substantially cheaper.

New Car Used Car
Years Old 0 1
Price $45,160 $33,870
Down Payment $9,032 $3,387
Loan Rate 5.00% 7.50%
Term 60 months 48 months
Payment $681.78 $737.05
Interest Paid $4,779 $4,895
Total Paid $49,939 $38,765

Buy Here Pay Here Dealerships in San Juan Capistrano, CA

Buy here pay here dealers normally do business with people with serious credit problems such as filing for bankruptcy. Normally, dealer financing isn’t direct to the consumer, in that car dealers work with a network of lenders to provide the loans. By contrast, buy here pay here dealers are the actual source of the loans. The fact is, you can expect inflated loan rates, expensive down payments, and vehicles that cost too much given the kind of shape they’re in. Is elevating your credit a priority for you? If so, you should contact a finance professional through us, seeing as buy here pay here dealers can’t help you restore your credit.

Will This Restore Your Credit?

There are three principal credit agencies: Equifax, Experian, and Transunion. In most cases, auto finance companies report your payments to these reporting agencies, giving you the chance you need to regain a high credit standing. Getting a car financed:

  • Gives you the opportunity to spruce up your payment history (35% of your score).
  • Multiplies the spectrum of credit under your belt (10% of your score).

Late payments, however, can reduce your FICO score, and in a hurry! To help ensure that you don’t miss a payment, consider an automatic email reminder or scheduled deduction from your checking account.

New And Used Cars in San Juan Capistrano

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