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FAQ
Here
are some answers to frequently asked questions, however if you
do not find what you are looking for, please send an E-mail to: info@autofinancelocators.com.
Auto
Finance Locators does
more than just offer lenders and services. We give you the
information to help you to get approved an auto loan and tips on
what you can do if you get turned down for a car loan as well as
which lenders and services offer the right products or services
for you.
Auto
Finance Locators
is not a lender. We give you information for you to utilize and
direct you to financial products or service providers that best
meet your needs. This
auto loan and credit service is absolutely free for you, and you
will never be required to pay a fee! This service merely
puts auto dealers and lenders together with buyers searching for
the best deal on an auto loan for the purchase on a new or used
car, truck, van or SUV.
Once
you submit your auto loan application through our web-site, you
should receive a phone call or email from the lender letting you
know the loan amount and the interest rate that you are approved
for as well as what you need to do if you decide to use the
loan.
Each
lender that we work with has their own procedures for processing
loans so the best way to find out exactly what to expect is to
contact the lender that you were approved with or check their
FAQ’s. However, if you have trouble getting in contact
with them or or cannot find their contact information, contact
us via E-mail
and we will provide you with the correct contact information.
This
can only be determined once you complete and submit your auto
loan application. Each individual has different
requirements that need to be met; therefore the interest rate
will vary depending on each individual. Different auto lenders
have different criteria they look for when making auto credit
decisions. Some factors may include employment, credit
history, etc. By applying through our web-site, this gives you a
greater chance of getting approved because of the relationships
we have established with the different lenders that compete to
provide you with the best rate on your auto loan.
Once
you receive your package from the lender which includes a draft
check, loan documents and a list of items that you will need to
bring such as your drivers license, paycheck stub, utility bill
(verify residence), and references, you are able to go to your
local participating auto dealership. Be prepared to
take delivery of your new or used car, truck or van the same day
you visit the car dealership. The dealer will help you
select the right vehicle for you that will fit within the
guidelines of the lender at a payment you can afford.
However,
if do not get approved through a lender, a local participating
auto dealership may still contact you letting you know that they
are able to help you get approved for a car loan. There
are several reasons why these particular dealers can help you:
First,
these dealers have a reputation to uphold. Since we refer
many customers to them, they don’t want you to have a bad car
buying experience. They will bend over backwards to get
you a fair deal; AND if you should have a problem with the car,
they are always there to help you!
Second,
these participating car dealers generally will do business with
many lenders that specialize in auto loans for people with bad
credit, no credit, repossessions or other credit situations.
These auto lenders typically will not make auto loans to the
public. For bad credit auto loans, these car dealers cater
to and they are the best source for good people with bad credit.
Lenders put a lot of trust in the quality of their collateral
(YOUR NEW or Used CAR) when making an auto loan. These auto
lenders want to make sure the new or used car dealer will be
there to stand behind your car. The dealer also has
professional auto finance staff to assemble your auto loan
package to make your auto loan funding go as smoothly as
possible. Also, by
purchasing your car,
truck or van from a participating car dealer, you can purchase a
2000 or newer car with less than 35,000 miles for a longer term
which means a lower car payment.
IF
you have bad credit, it is very difficult to get approved for a
car loan to purchase through a private party no matter how much
money you need. The dealership is the one who helps get you into
the car by offering the bad credit auto loan because they have a
strong relationship with the lenders. A private party
cannot do this. Most online auto loan companies will take your
application, and then hand it over to a dealer in your area who
is willing to work with people who need a bad credit auto loan.
The most important thing to remember is that because you are
being referred to a dealership by someone who sends them
customers on a regular basis will not want to jeopardize their
relationship by not doing everything they can to help you get
into a car. If you have been referred to car dealership and they
are not able to help you, please contact
me to help you find one that can!
We
have tried to anticipate any question you may have while
considering the purchase of a new or used car, truck, van or
SUV. However, we realize every situation is different and
we may have missed a few topics. Check back with us periodically
since we are always adding new information to help you with the
process of purchasing a new or used car.
Should
you have further questions about auto loans, auto credit, auto
lenders or about purchasing a car from the dealership, feel free
to send us an Email to: info@autofinancelocators.com
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