If you are thinking about getting a car loan, you are bound to have a lot of questions and a fair amount of anxiety. We address some of the most common questions here.
The easiest way to apply is to apply online. Our application form is fully secured and your information won't be shared with anyone but with our Dealer Network Partners and lenders.
Your credit history is updated frequently by your credit card companies, lenders, banks, and others that have a financial interest with you. This information is centrally available with government authorized credit reporting agencies, and can be requested in order to prove your credit repay habits. If you are new to the US, there is no question of having a credit history. It gets maintained with your stay in the United States. Any failure to pay back your loans, mortgage, rent, or bills will lead to a bad credit history, resulting in higher rates.
We have some of the strongest encryptions, including SHA-2 and 2048 bit encryption. SiteLock is installed to protect the website and find malware, threats and help prevent website attacks. Our website has also earned the McAfee SECURE certification.
We understand things happen in life. Sometimes a consumer has to make choices on what to pay first and other creditors get neglected. This definitely negatively impacts your credit score. Bad credit does not have to follow you around forever. We work with a network of dealer partners and lenders that are experts in helping those that have lower credit ratings and have a tougher time buying a car or a truck. If you have been denied in the past, we suggest you to fill out an application and allow ApprovedUSA to help you pre-qualify for an auto loan.
There are many foreign-born individuals living in the United States that have no credit history and feel there is no way they can get approved for an auto loan. You can fill our application form and get evaluated quickly. If you are self-employed you may require more evidence of a source of revenue. Most lenders are open to using tax-returns and bank statements.
There are many variables that go into figuring out the monthly payment such as amount of purchase, monthly interest, term, previous credit history and down payment.
Filling out the credit application online only takes a few minutes. After the application has been submitted, the dealership may request additional information such as pay stubs, phone bills, bank statements, or they may not request anything. The dealerships deal with so many lenders and every program is different. The process is generally complete within 48 hours of submitting an application to a customer driving a new vehicle home if approved. Times do vary, depending on a customer's situation.
