Buying a used car or truck can be a major undertaking… and a major expense. If you're like most people, you won't be able to pay for your new vehicle out-of-pocket; that's where automotive financing loans come into play. With an automotive financing loan you'll be able to borrow the amount that you need to pay for the car or other vehicle of your dreams, and the purchased vehicle will serve as collateral for the loan meaning that you won't need additional collateral to secure it. The loan is still a major commitment, yet very easy to manage, though, and shouldn't be entered into lightly.
- Traditional loan financing with competitive rates, terms and advance policies.
- Expedited automatic approval services for qualified applicants.
All credit applications are welcomed:
- Good credit
- Sub prime credit
- No-credit
Our financial parties will do there best to approve all and every applicant. Interest rates will vary depending on which party does the approval.
Bank Financing
The first instinct that many people have when looking for an automotive finance loan is to apply for the loan through the bank where they do most of their other financial business. Banks can be a good source of auto loans, but you should take care not to overlook the other options that are available to you as well. Such as Dealer Plan financing which offers a better interest rate than a line of credit, depending on your current credit score.
Another option that is available is dealer financing. This financing option is usually done through a major bank that the dealer utilizes or via the automobile company itself, and allows you to make payments on your car or truck at the same place where you do your personal banking at, via direct deposit. In cases where the financing is done through a major bank itself, there are often discounts in interest for the initial payment period. Depending on your debt/credit ratio.