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Below is a list of questions that we encounter on a fairly regular basis. If your question is not answered in this list, you may submit your own question by clicking here. We will be happy to help you in any way we can.
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Does it cost anything to submit a credit check?
There is no cost or obligation to submit an application to a bank. However, the banks do not show you your credit report. They will refer to them and will tell you that if you have any questions regarding your credit report, you will have to contact the credit bureau directly.
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Why do I have to provide the car or stock number in order to submit my credit application?
You need to provide a specific car description because you may qualify for some car loans but not others. For example, a 22 year old factory worker making $9.00 per hour may qualify for a '98 Ford Taurus if you are wanting to borrow $7500 and you have good credit. However, the same bank may not want to loan you $26,000 for a new truck because your payments may be too high compared to your income.
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I still owe money on the vehicle I am trading in. How does that work?
Say you are buying a new car for $25,000, and you are trading in your old Taurus that we will allow you $8,000 (trade-in allowance). The difference is $17,000. But, if you are going to borrow the money to buy your new car, we need to add the payoff of your old car to that $17,000. So, if you still owe $5,000, you would just add that to the $17,000 for a total of $22,000, which is what you will need to borrow.
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What is a VIN? And where do I find it?
Every car, truck, boat and motorcycle is assigned a "Vehicle Identification Number" from its manufacturer. With this VIN, insurance companies and the automobile industry can identify that specific vehicle. On a car or truck, the VIN is usually found on the driver's side of the dashboard, near the corner of the windshield. You'll need to be on the outside of the car to see it.
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