Frequent Asked Questions on Car Loans
Q: What happens after I apply online for a car loan?
A: Once you have completed the short application, it is then instantly processed. A loan professional will then contact you to get further information if necessary, and to let you know your qualification status. Because the applications are immediately processed you will avoid any long waiting periods.
Q: I want to apply for an online car loan but don't know if it is safe, how can I be sure?
A: We can't speak for other online companies, but here at 1st Rate Car Loans, our online application is processed on a 128-bit secure server. We also never ask our customers to submit personal information via email, and we never ask for any type of payment for applying online. You can tell that you are applying on a safe server by seeing the "https" at the beginning of the url of the secure application page.
Q: How soon can I be approved for a car loan?
A: In many cases, the approvals are made in just a few hours. This all depends on how complete your application is, and if there are any circumstances that might delay things; this would include inaccurate information or an incomplete application. Above all, make sure your contact numbers are correct.
Q: What options are available to me if I have bad credit?
A: Now days, bad credit affects the majority of people. For most people, their bad credit is no fault of their own due to medical bills, or other unavoidable situations. We have one of the most experienced bad credit car loan teams in the Nation, and are ready to work with you on an individual basis.
Q: I would rather apply for a car loan by phone, is this possible?
A: No, we respect your privacy, and must follow our strict guidelines. We cannot take applications via phone, but we do encourage you to take advantage of our online application; it is much safer, and you will see results much quicker.
Q: Is there a minimum down payment that I will need to have?
A: Each circumstance is different, so it is difficult to have an "all-in-one" answer. Typically down payments are little or none depending on your certain requirements. If you are a first time buyer, there are many programs to help you with a down payment.
Q: How much will I be charged to apply for a car loan online?
A: Nothing. There are no online application fees to apply.
Q: Am I obligated to take car loan offers that I may receive?
A: No, there is never any obligation on your part.
Q: I have been told that my credit falls under the category of "sub-prime", does this mean that I will not qualify for car loans?
A: Well, sub-prime is basically saying that you have bad credit issues that affect the interest rate that lenders are willing to extend to you. It probably means that your chances of getting a car loan with 0% interest are slim. You can however, still qualify for car loans. As time goes by and your credit rating rises, it is entirely possible for you to refinance your car loan at a lower interest rate. If you have bad credit, also known as sub-prime credit, many experts agree that getting a car loan is a good way to get your credit back on track. Once you have proven that you are again credit-worthy, you will not have any trouble getting a low interest rate car loan, possibly even that 0% that you see advertised!
Q: I want to apply, how do I do this?
A: It is very easy, just click here to go to the online car loan application. From there just fill in the necessary information. In all it should take you under three minutes.