AUTO FINANCING WITH DOWN PAYMENT ASSISTANCE OPTIONS
CALIFORNIA BUYERS CAN APPLY FOR ASSISTANCE
Down payment assistance programs provide prospective carbuyers with money to help them pay for a down payment on a car purchase.
Some programs, such as HELP’s, may also help with a large portion of the down payment, which are the fees and charges you pay when you finalize your auto loan. Down Payment ASSISTANCE VOUCHERS START FROM $1200 to $3000 per BUYER.
Closing costs can total between 20 and 30 percent of the loan principal.
For instance, on a $15,000 loan, the closing costs could be upwards of $4000 or more. If all of your available cash is going to saving for a down payment, you might need help paying for closing costs too.
When you purchase using the program, you obtain Down Payment Assistance and at the same time that you get the Auto Loan. The assistance, also referred to as HELP, can be used towards your down payment and/or closing costs, or to reduce the principal balance on the HELP Auto Loan (which in turn can lower your monthly payment).
Bottom line, we are here to help you become a HELP buyer with little-to-no money out-of-pocket and possibly much sooner than you thought possible.
Program Features:
No first-time Buyer requirement
Perfect credit is not required
Income limits are generous
Assistance up to 90%
Want to Learn More?
To learn more about our individual Down Payment Assistance Programs, clink the link to the program of interest.
When you are ready to apply or have specific questions, reach out to one of our Participating dealer LA AUTO CENTER. Our Lenders will provide complete program guidelines, interest rates and APRs, and help you make the right decision for your specific situation and needs.
Help Me With My Down Payment offer down payment assistance through LA Auto Center. $1200 to $3000 dollar voucher is available to California residents.
To determine if your approved for the program you can apply online or by phone. Supporting income documents will be required to underwrite the application.
Down Payment Assistance Application
Apply By Phone: (818) 814-9477 Email your supporting documents to: Approvals@helpmewithmydownpayment.com
For W2 Employees: 2 Most Recent Paystubs For Self Empolyed: 3 Months Bank Statements (PDF) Copy of Drivers License
LA Auto Center revolutionized the auto industry by delivering the honest, transparent and high-integrity car buying experience customers want and deserve. In addition we sponsor the down payment assistance program with Help Me With My Down Payment.
Help Me With My Down Payment and LA Auto Center offer Auto Financing With Down Payment Aid for all qualified California Buyers. We offer down payment Aid on all our transactions.
HELP ME WITH MY DOWN PAYMENT IS OFFERING ASSISTANCE
How Soon Can You Trade In a Financed Car?
Most drivers will trade in a car at some point or another. Many people wait a few years for each new vehicle purchase, but how soon is too soon to trade? Keep reading for details on how quickly you can trade in a financed car, including best practices for your budget and long-term goals.
How Does Financing Work?
The loan terms of every finance contract vary, but the basic principles are the same. Your bank or financial institution covers the cost to pay the dealer or private seller for your vehicle. In turn, you repay the lender in monthly installments. These payments include the purchase amount and interest, which is what the lender charges for the privilege of borrowing the money.
When Can You Trade?
You can technically trade in your financed car anytime after signing the paperwork and driving off the lot. It may be more difficult to process a trade-in before the finance department files all the paperwork and the bank has established your new account. Once you’ve made your first payment, trading in can be treated like any routine transaction. However, we don’t advise trading before at least partially paying down the loan balance.
Trade-In Best Practices
Most dealers are willing to work with buyers trading in a financed car. The transaction counts as a sale which ultimately benefits their bottom line. It’s always up to you as the consumer to research your car’s market value and decide if trading is a smart move for your budget.
If you bought your car new, it’s usually best to wait at least a year before trading. Contrary to what the name suggests, a trade is not necessarily a one-to-one swap, even if you opt for a vehicle in a similar class and price range. Know your car’s fair-market value before going to the dealer. That way, you’ll better understand how much it’s worth compared to how much they offer towards a new purchase.
Knowing how much you owe on your current auto loan is just as important. Your financial institution can tell you what the payoff amount is. Hopefully, the car’s value will be greater than what you owe at trade-in time. Trading a car should offset the cost of another vehicle. A trade-in should not increase how much you pay for your new ride.
Vehicle Equity
When talking about homes or property, the term “equity” refers to the value placed on an asset beyond the amount owed on it. If your vehicle’s value exceeds what you owe, you have built positive equity in the purchase. If your car is worth less than the amount remaining on your loan, you have “negative equity.” It’s also known as being “upside-down.”
Financial experts advise against trading in a vehicle when you owe more than it is worth. Some dealers might encourage you to roll the negative equity into a loan for a different car. However, a transaction like that will undoubtedly put you in a similar, if not tighter, bind. In that situation, you will immediately find yourself owing more money than the new car is worth, in addition to the negative equity amount from the old vehicle Tags: Auto Loans, autocheck, bad credit, car dealership, carfax, carmax, certified used cars, down payment assistance, no down payment, used cars, westlake financial
Down Payment Assistance Guidelines
CARTAX DOWN PAYMENT ASSISTANCE:
If you live in California, chances are you need a car for your commute, running errands, visiting loved ones, and going to the beach. But if you have poor credit and cannot qualify for most car financing, LA Auto Center is one of the top direct dealers for bad credit financing. In addition LA Auto Center offers $1200 down payment assistance. Read on to find out more about our auto loan options!
WHY APPLY FOR BAD CREDIT FINANCING?
LA Auto Center understands that, for bad credit car buyers, being able to afford a new vehicle seems out of the realm of possibility. With LA Auto Center, you’re never far from getting the auto loan assistance you need, particularly when you’re looking to rebuild your credit. As long as you make payments on time, you’ll see a dramatic improvements in your credit rating. LA Auto Center is a great place to start if you’re looking to rebuild your credit with our CarTax car purchase program. With LA Auto Center drive off the lot with paying the taxes, title and dmv fees. Ask about our Cartax down payment assistance program.
WHY APPLY WITH LA AUTO CENTER?
At LA Auto Center, we make it easy to buy a new car with our hassle-free auto financing. With our long-standing industry experience and direct connection to Help Me With My Down Payment funds, we’ve helped thousands of consumers! Whether it’s bad credit, no credit, or bankruptcy, we welcome all applicants. We offer down payment assistance on every transaction. Approvals only takes a 24 hours once you submit your application online. It’s easy to use our online application form, and we provide a simplified approach to getting your financing in place before you shop for a certified used vehicle.
DO I NEED A DOWN PAYMENT?
With LA Auto Center, you need a small down payment provided you stay within the approval guidelines. Even better, there are no application fees, which saves you even more money. With the CarTax down payment auto loan, you don’t have to deal with the uncertainty of purchasing a vehicle. By as little as paying the taxes, title and dmv fees, you can drive off the lot.
WHAT DO I NEED BESIDES A LOAN APPLICATION?
Aside from a loan application, you also need to have a job and provide proof of said income. You need a current pay stub as proof of your income. There might be additional documents or conditions, but those are specific to each applicant and will be minimal. While we accept bad credit, you must have a way to make payments on the car and proof that you have a way to make these payments.
HOW DOES THE CAR PURCHASE PROCESS WORK?
At LA Auto Center, we have a fast and easy process for applying for an auto loan with only three easy steps. The first step to take is applying online and then wait for our underwriting team to contact you, which will be the same day. At LA Auto Center, we understand the frustration and heartache that occurs when you’re rejected for an auto loan based on your credit. That’s why LA Auto Center makes it easy for car shoppers with bad credit to get approved.
To apply online please visit our website at https://www.laautocenterllc.com/apply-online/ or contact our support team at (818) 814-9477. Our representatives are available 7 days a week.
Help Me With My Down Payment Assistance!
To learn more information about the down payment assistance program please visit us online at: https://helpmewithmydownpayment.com/bad-credit-loans Tags: auto trader, autonation, Bad Credit Auto Loans, carfax, down payment assistance, Help me with my down payment, La Auto Center, Used Car dealer
CarTax Down Payment Assistance Program
We are excited to announce the launch of our new CarTax Down Payment Assistance Program. It is designed specifically for consumers with low fico scores. The California base program aims to streamline and simplify the auto buying process. While providing consumers with all the necessary tools to get approved for an auto loan. For consumers with bad credit the program will pay for a portion of the down payment.
It’s Easy to Get Started!
If you’re ready to make a move, check out our Online Credit Application to get started. Consumers must meet the min requirments for the program.
- Min Fico Score: 500
- Min Income Requirment: Gross Income $2500
- Must be a California residents
- Finding a reputable car
- Documentation needed
- Full coverage insurance to drive off the lot
- Paying for the taxes, title and Dmv fees at signing
- A min of ONE thousand dollar is required to secure the terms and conditions of the CarTax Program
The CarTax Program offers several advantages, including:
24 Hour Loan Approvals: Consumers can now apply online through a secure online portal with the ability to upload conditions and get text message updates. The underwriting turn around time is 24 hours upon completion of the online credit application.
Down Payment Assistance Funds: The funds are secured through Help Me With My Down Payment a private entity. The amount of funds approved is determined by the applicants financial background. The program allows consumers with bad credit to purchase a vehicle with the minimum down payment.
Minimum Down Payment Requirments: The CARTAX program requires consumers to pay the taxes, title and DMV Fees.
Income Requirements: A gross income of $2500 is required and the following income status is accepted: W2 Employee, Self Employed, Fixed Income, Social Secuirty Income, Disablity Income, Child Support.
Fico Requirements: A min fico score of 500 is required to be eligible for the program.
We believe that our new CARTAX down payment assistance program will significantly enhance the consumers shopping experience. In addition to help improve their credit worthiness. To apply for the program please visit our website at https://www.laautocenterllc.com/apply-online/. We look forward to supporting you with your purchase. Our new CARTAX Down Payment Assistance Program will contribute towards the purchase of your next vehicle.
Our support team is avalible 7 days a week at 818-814-9477 to assist with any questions.
How are credit scores calculated?
Every score is based on information gathered by the major credit bureaus: Experian, Equifax, and TransUnion. These credit reporting agencies gather data from credit card companies, financial institutions, and lenders to create a report. Credit scoring models analyze the credit report information and assign value to each factor. Depending on the model, some factors will be highly influential while others only account for a small percentage of your overall score. As a result, different scoring models will produce different credit scores, even if they reference the same credit report. Tags: auto nation, auto trader, autonation, Bad Credit Auto Loans, carfax, CarTax Program, down payment assistance, Help me with my down payment, La Auto Center, Used Car dealer, used cars for sale, zero down payment
BAD CREDIT AUTO LOANS AND DOWN PAYMENT ASSISTANCE
Questions to Ask Dealers About Your Bad Credit Auto Loan
A bad credit score won’t necessarily cut you out of the auto loan process. You can still qualify for a loan and buy a car with poor credit; but the payments, interest rate and terms will vary. Before you walk into the dealer, arm yourself with a list of questions to ask about your bad credit auto loan. Help me with my down payment works with LA Auto Center to help you get approved with the down payment assistance funds.
What is the minimum down payment?
Just because a buyer needs bad credit auto financing doesn’t always mean they’ll need a high down payment. Minimum down payments will vary depending on your dealer and what type of bad credit auto loan you need.
How high is the interest rate?
Before signing your loan, ask dealers about the type of interest rate attached to your bad credit auto loan. Remember that your interest rate on a bad credit auto loan affects your monthly payment, as well as the overall amount you’ll ultimately pay.
What are the terms?
Auto loans can vary in length for buyers with bad credit auto financing. The specific terms will depend on your dealer and any negotiations that take place over your bad credit auto loan financing.
What kind of car will I qualify for?
It’s not uncommon to hear stories about people with bad credit auto financing being shown a different selection of cars than other buyers. Ask in advance if you will have any vehicle restrictions and what type of car you can expect to qualify for.
Can I Get an Auto Loan with a Repo?
Getting a car repossessed isn’t an easy thing to go through, but you may still qualify for bad credit auto financing.
Prepare to apply for a bad credit auto loan. Check your credit score and review the damage. You need to know what a bad credit auto loan lender will see when they consider your loan application. Pay your bills on time and settle any balances, especially if you still owe money on your previous auto loan. Then bring together what money you can for a down payment on your bad credit auto loan.
Shop around for the best deal. Look to different lenders for their rates on a bad credit auto loan. Keep your options open and don’t restrict yourself. A high down payment or a cosigner may make it easier for a bad credit auto financing company to approve you, since it means they’ll be taking less risk on you.
Be realistic about the car you want. Try to get pre-approved for a bad credit auto loan so you can set a budget for yourself before you go to the dealership. Alternatively, you can work with an in-house bad credit auto loan lender.
How to Get an Auto Loan with Bad Credit
A bad credit score and poor history can make auto financing miserable for some, but it isn’t impossible for everyone. Unfortunately for many Americans, buying a car with cash is just not an option, leaving some consumers behind a road block caused by bad credit.
If you’re in the market for a used car but don’t have the credit for a normal loan, here are several ways to secure a bad credit auto loan and buy the car you’ve always wanted.
Sub-prime lenders
Sub-prime lenders specialize in bad credit auto loans and may be able to approve you when other traditional lenders won’t. These lenders often finance in-house as well, so you don’t have to go outside the dealership for a loan.
Credit unions
Credit unions are another alternative to traditional banks and may work with its members to set up bad credit auto financing. And if you’re not already a member, signing up for a number of bundled services could help secure a bad credit auto loan as well.
Cosigners
If you have a family member or significant other with good credit, and they’re willing, they can sign on a bad credit auto loan to help secure a better interest rate. But remember, if you don’t make your monthly payment it may hurt their credit as well as yours.
Dealerships
Some dealerships will offer bad credit auto loan rates for consumers who struggle to find financing elsewhere. This may be a way to handle a bad credit auto loan and purchasing (along with service and warranty) under one roof.
When you consider the options, there are many opportunities to secure a bad credit auto loan.
Get a Bad Credit Loan After Bankruptcy
Bankruptcy doesn’t mean that it’s impossible to get an auto loan–in fact, it’s only one of the elements that a lender looks at. It’s important to remember that you have options. Even after bankruptcy, you can find a car and financing with a bad credit auto loan. There are three simple steps to begin working towards a bad credit auto loan.
1. Check your credit score and do what you can to improve it. Looking at your credit score previous to applying for a bad credit auto loan will likely feel a little painful, but it’s necessary to see what a bad credit auto loan lender will be seeing. Pay attention to your auto loan history, since a lender will often weigh that heavily in their decision.
2. Save enough money for a down payment in preparation for your loan. Bad credit auto loans usually require down payments, and the larger the down payment is, the less risk the bad credit auto financing lender is taking. You may be able to trade in a vehicle to put money towards your bad credit auto loan.
3. Get pre-approved before you visit a dealership. Being pre-approved for bad credit auto financing gives you leverage and allows you to understand what cars you can afford. If your bankruptcy is recent and your credit hasn’t been rebuilt, your bad credit auto loan rate may be higher.
Don’t be afraid to approach lenders about a bad credit auto loan, and don’t assume that only “buy here pay here” dealerships will work with you. Feel free to shop around and find a loan with terms that work well for you. Then pay your loans on time, monitor your credit score, and consider refinancing your bad credit auto loan at a lower rate once your credit score has improved.
