Frequently Asked Questions

Find answers here to frequently asked questions.

What types of car loans are available through this site?

While neither this site, its operators or owners are lenders of auto loans, our network of lenders are available to provide you with car loans for new cars, used cars, or auto refinancing.

Do I have to have a large down payment to get a quote?

No. Our lenders will work with borrowers who have little or no money down for acar, but other factors such as your income and credit rating will play a significant role in whether or not you are offered a loan and what the terms will be.

If I fill out the form for a quote am I obligated to use one of your lenders?

No. There is no obligation to use the lenders that are matched with you after you fill out the form on this site for a quote. You may compare quotes from the lenders once you receive them then contact them for more information, or contact none at all.

How long does it take to receive a quote?

You will receive your quotes immediately after completing the form.

If I get preapproved how will I get my money?

Different lending institutions have different methods of handling this. Some will send you a notice of pre-approval that you can give to the dealership to let them know how the dealer may contact the bank to access the funds once a sale has been made. Other lenders may request that you have the dealership call them directly for verification once you have negotiated a vehicle and a total price.

What if I have bad credit?

If you have bad credit, you would be best served by taking steps to improve it before you apply for your loan preapproval. This can have the effect of saving you hundreds or thousands of dollars over the life of any loan you are approved for. If you don't have the time or inclination to improve your credit for whatever reason, then you may still apply for quotes through this site - we do have lenders that work with those who have bad credit or little/no credit issues.

What is APR?

APR stands for annual percentage rate and it is the amount of interest that you are charged by a lender for giving you a loan. The lower your APR is, the better. For example, if you have a 10,000 car loan and you are charged 5.2% interest on it, by the end of the year, you will owe $10,520 on it if you made no payments. On the other hand, if you had bad credit and got that same car loan with a 13% annual percentage rate, you would owe $11,300 on that loan over the same period of time.