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Car Loans – Lompoc (CA)

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How would you like to find an auto loan in Lompoc, CA with poor credit or no down payment? We have taken the frustration out of financing a car in Lompoc and across California. You can submit an application for auto financing in Lompoc CA in just a few minutes.

Approval Guidelines

  • Average Lompoc Income: $2,261 Per Month
  • Average CA Credit Score: 672

The majority of auto loan providers require that you be employed with $1500 income per month. Aside from that, your level of existing debt, inclusive of your car loan, shouldn’t exceed one half of how much you make per month. For folks in Lompoc, CA, this rounds out to $1,131, on average.

Don’t meet these requirements? No worries. You may still meet the requirements by going above and beyond in one or more of the following ways:

  1. Get a Co-buyer
  2. Supply a Larger Down Payment
  3. Trade in an Existing Car or Truck
  4. Opt for Tote the Note Loans.

Used Car Loans: Lompoc, CA

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What amount should you spend on a car loan? Well, let me suggest an excellent rule of thumb: spend only 1/5 of your monthly wages for stuff like:

  • Monthly Payments
  • Repairs and Maintenance
  • Gas

For the average Lompoc resident, this equates to $407 to $452 monthly. Budgeting in excess of 18-20% will endanger your financial future. Believe it or not, used auto loans are most advantageous; after all, brand new cars and trucks depreciate too fast to be a smart expense.

Financing a Car with Bad Credit in Lompoc, California: Tips

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It is essential to budget properly for your car loan in Lompoc, CA. So please never commit more than 15% of your income per month toward paying down your bad credit loan.

  • $339: 15% of average income in Lompoc, CA
  • $113: 5% for gas, repairs, etc.

On top of that, it’s best to provide the biggest down payment possible. Sure, we could help you find California car financing with no money down, but these carry a heightened risk of becoming upside down.

Bad Credit Car Lots: Lompoc (CA)

Thinking about financing a used car in Lompoc, CA with no credit check? Buy here pay here car lots may very well be your only solution. These dealers go by many names:

  • Your Job is Your Credit Dealerships
  • In House Financing Dealerships
  • Bad Credit Car Dealers

Such auto loans will often be supplied with no credit check. Unfortunately, you’ll want to think about some major downsides. The APR rates and down payments are higher than average, and it will be really difficult to to repair your credit history through this sort of an establishment.

But don’t fret, you may be able to get approved for the car loan you want without relying on in house financing.

Dealerships That Finance People With Bad Credit in Lompoc, CA

  • Auto Trust, 401 North H Street, 93436
  • L & L Auto Sales, 524 W Ocean Ave, 923