A: In addition to In House Auto Financing, or PCC, we work with over 30 different auto lenders, including a large number of credit unions, such as Chrysler Capital, Capitol One Auto Financing, Ally Auto Financing, US Bank Auto Financing, Chase Auto Financing, Landmark Credit Union, UW Credit Union, Brewery Credit Union, Summit Credit Union and many more.
Q: What will my interest rate be on an auto loan?
A: Your interest rate is based on a number of factors, such as your credit score, amount of money you are putting down, the amount you are financing, your monthly income, etc.
Q: When would I need a co-signer?
A: A co-signer is important if you have limited or challenged credit. For example, if you are a young student and are purchasing a vehicle for the first time, and do not have any credit history, a co-signer would be helpful, but not necessarily required.
Q: How much of a down payment do I need?
A: Banks like to see 20% of the amount financed as a down-payment, but 20% is not always necessary. Every $1000 that you put down, will lower your monthly payment by approximately $20. It's always a good idea to put money down so that your chances of approval on a auto loan are greatly increased. If you have challenged credit, it is typically required to have some form of a down-payment.
Q: Can I include a traded vehicle that has not yet been paid off in my auto finance loan?
A: Yes you can, we will appraise the vehicle, and once we have a specific value for the trade, the balance of what you owe (if anything) will be added to your new auto finance loan. Banks like to see traded vehicles, even if its not paid off.
Q: Can I include a traded vehicle that I own in the auto finance loan?
A: Absolutely, once appraised, the value of the vehicle will be added as a form of down-payment. Banks like to see paid off traded vehicles, even if its of very low value.
Q: What is the longest term that your auto lenders offer?
A: Most banks offer up to 84 months, depending on the vehicle.
Q: What is the minimum amount that your lenders will finance?
A: Approximately $10,000, though this can vary case by case.