Bad Credit Frequently Asked Questions
- Is there any obligation with the AutoApproved Auto Loan Application?
- No. Applying through AutoApproved will give you a chance to see your options before you buy. There is no commitment if you change your mind.
- Are there any loan fees associated with the AutoApproved application?
- This service is 100% free with no additional costs or fees. You may have standard origination fees once the loan is completed, but you will have an opportunity to review these before you accept to the loan.
- What is the Interest Rate going to be?
- Your interest rate, or Annual Percentage Rate, is influenced by many factors; the year, model, and mileage of the purchased vehicle, the term of the loan, the amount of your down payment, your current credit situation, and the amount you will be borrowing. Once you have submitted your application, a credit specialist will be in touch to give you more details.
- What will my car payment be?
- Your car payment is also influenced by many of the same factors your Interest Rate is influenced by. We specialize in matching the payment you are trying to target with the best possible vehicle. The last thing we want to do is talk you into a huge car payment you won’t be able to afford.
- How much do I need to put down? Can I buy a vehicle with nothing down?
- Believe it or not, many of our customers can drive away with a new vehicle with absolutely no down payment. Again, we will match the out of pocket expense you have budgeted with the best car finance source we can.
- How long does this process take?
- If you submit the loan application during normal business hours, you will typically be contacted with an hour.
- Do you offer auto refinancing?
- At this time, AutoApproved is not offering automobile refinancing; however, we would encourage you to at least evaluate the options available to you through our service. Many of our customers find that we are able to move them into newer, and often nicer, vehicles than what they are currently driving, while keeping their monthly payment the same or even lowering it! We have an article about the benefits you receive if you apply for a car loan online.
- I found a vehicle for sale by owner, can you help?
- In general, most banks and finance companies will only finance automobiles available for sale through a franchised car dealership. Unlike vehicles for sale by owner, car dealerships are required to inspect their vehicles and provide a warranty on those vehicles. Here are some difference if you get a bad credit used car loan versus getting a bad credit new car loan.
- Is it safe to submit my private information over the Internet?
- Absolutely! AutoApproved uses Secure Sockets Layer (SSL) technology supporting up to 128-bit encryption to prevent unauthorized parties from viewing any personal loan application information transmitted to or from our website during your visit. Our servers are housed in a secure physical environment, and our network is secured with state of the art Intrusion Prevention devices.
- I have been turned down over and over, how do I know you can get me approved?
- We are the best, period! We have years of expertise, and relationships that no other auto finance company does. As long as you have a steady job and a driver's license, the rest is just details. Remember, car loans are negotiable, just like car prices. Which means there is a fit for everyone. At the end of the day, if we can’t help you, then it's because no one can.
You will be redirected to a secure page to complete the application.