If I apply online, will my information be secure?

Yes, the lenders you will find through this site use the most secure, encrypted online application forms available. Whether you use Firefox, Opera, Microsoft Internet Explorer or other popular browsers, they should be compatible the lender’s online form

Will I have to pay application fee?

No. A reputable auto loan company will not charge you any fee to apply for an auto loan.

What types of loans are there?

There are many types of loans you can get. They range from simple interest installment loans for the purchase of a new and used car to auto refinance loans. To see which program is right for you, fill out the short form on this site and a Loan Specialist will contact you with your options.

Will I be charged extra or hit with buried fees for applying online?

No, again if you’re dealing with a reputable dealer, all fees are disclosed upfront.

When will I find out if my loan is approved?

It usually take anywhere from 24 hours to three days for most loan applications. However, some loans will fall outside those parameters.

If your loan is approved, a Loan Specialist will contact you, usually via email to spell out the terms of your loan. If your application is not approved, you’ll receive a letter in the mail describing the reasons why.

I’ve heard something called GAP insurance. What is it and do I need it?

In a nutshell, GAP (Guaranteed Auto Protection) insurance is simply the additional coverage you need to fill the "gap" between the amount you owe and the cash value of the car.

For example: a brand-new car will depreciate up to 30% in the first couple years. And if something happens, the insurance payouts could be lower than the price you paid for the vehicle – even if you have full insurance coverage.

How long does it take to get my loan?

Yes, in most cases your interest rate offer is good for up to 30 days after it is approved.

Does my loan offer expire?

Yes, in most cases your interest rate offer is good for up to 30 days after it is approved.

I filed for bankruptcy recently, can I still apply?

We’ve seen all types of credit and all types of financial situations. We also work with a wide range of lenders who can structure a loan package to meet your particular needs. So no matter what your credit, we should be able to find a lender who can approve your loan.

Suppose my local dealer is offering a special rate why would I bother searching for a better offer online?

Sure, special rate programs can be tempting. Local dealers offer them all the time. But they are not always on the exact vehicle you want. More often they are restricted to vehicles the dealer is trying to get rid of. Also, the terms may be longer than you’re willing to keep the loan (or shorter, resulting in a higher payment).

Bottom line is, they’re not always as attractive as they seem.

Am I obligated to use the entire amount I’m approved for?

It’s a better to just use the amount you really need. If your vehicle costs less than the amount you borrowed, you may still want to add some after-market accessories or extended service plans, but you shouldn’t add anything you don’t really need just to “get to” the approved amount.

What is the definition of a simple interest?

Simple Interest is a way of dividing your monthly payments between interest and principal. The amount of interest you pay each month is calculated based on your unpaid principal balance, the interest rate on your loan, and the number of days since your last payment.

Say your last payment was received 29 days ago, then you will be charged 29 days of interest on the unpaid principal balance of your loan. Then the balance of your full payment is applied toward the principal amount, which reduces the unpaid principal balance on your loan.

If we have a joint application do both of us need to sign the check?

Yes, the check cannot be “negotiated,” unless each person has signed it.

Can I use my loan for a vehicle other than a car?

It varies by lender, but many of them WILL NOT finance vehicles such as: motorcycles, RVs, motor homes, ATVs, dirt bikes, commercial vehicles, boats, taxis, limousines, camper vans, tow trucks, tractor trailers, dump trucks, armored vehicles, conversion vehicles, salvaged, rebuilt or branded title vehicles, custom built kit cars or cars without a VIN or proper title.

Do I need to know the exact amount of the loan I need before I apply?

No. In fact, it’s probably a good idea to request more than you think you need, so you have some flexibility.

What’s the maximum amount I can borrow?

For most online lenders, you can go up to around $60,000. If you think you’ll need more than that, you might consider a home equity loan.

Is my loan good at an auction?

No. You may not purchase a vehicle at auction. Apply now.

Do I need to make a down payment to get started?

In most cases, you can apply online without a down payment.

If I sell my car, can the new buyer pay off the loan?

This is called an “assumable” loan and no, you shouldn’t expect a lender to allow you to have your loan “assumed” by another party.