Frequently Asked Questions

Q-Do I need to have a job in order to finance a new car or used car?

A-Not always, but you should have a proven track record of making payments or proof that you have the ability to make payments.

Q-Do I need money to put down on car loan?

A-Sometimes, but in most cases there are options available to reduce or even eliminate the amount of money due when taking delivery of a new vehicle.

Q-What if my credit is not very good?

A-Some finance sources may think your credit isn’t “very good” but others my think its just fine. We have numerous finance sources, and will try to provide you with as many options as possible based on each financial institutions credit criteria.

Q-If I fill out a credit application at a car dealership, does that mean I have to buy a car?

A- No. A credit application is not a commitment to purchase aN auto. It is simply a request for financing.

Q-Each time I apply for credit, does that lower my credit score?

A- Yes and No. An inquiry on your bureau can affect your score, and each credit reporting agency is different, but generally, all inquiries for the same purpose within a 30 day timeframe are considered to be a single inquiry. For example, if we send your credit application to three different sources, although all three inquiries will show up on your credit bureau, the score will only be affected as if it were just one inquiry.

Q-If I have filed for bankruptcy can I still purchase a new car?

A-In many instances, Yes. Each individual’s circumstances are taken into account when applying for financing. It may be easier than you think.

Q-I’ve never had a car loan before. Will I be required to have a co-signer?

A- Not always. There are many factors in determining an applicants credit-worthiness such as equity, down payment, length of employment, and credit history. The only way to determine if you qualify for a financial institutions credit criteria, is to ask them.

Q-How long does it take to find out if I can get my new car or used car?

A-In many cases, as quickly as ten minutes, but usually within a few hours. Rarely, some situations may need as long as a day or two in order to get certain stipulations worked out, or to verify certain aspects of the credit application.

Q-Is leasing really a good idea?

A-Yes. In most cases, leasing is a viable option, and many times is the very best one—even if you are a high mileage driver or have unique circumstances. One of our sales professionals can assist you with any specific questions you may have.