Car Loans Frequently Asked Questions
If you do not find your question listed below contact us. We happily respond to every inquiry.
- Where can I apply for bad credit financing?
- How much money will I qualify for?
- How much money down will I need?
- Can I use my trade in instead of moeny down?
- What type of car can I buy?
- How inquiries effect my credit rating?
- How do I qualify?
- Will I still qualify if I've had a recent repo?
- Will I qualify if I had a bankruptcy?
- Will I still qualify if I'm currently in a Chapter 13 Bankruptcy?
- I have no credit score. Will I still qualify?
- Do Cosigners help?
- Can I use a LotPro Dealer to finance a vehicle through a private party?
- Can I use an auto manufacturer's employee discount (A-Plan, GMS) with a LotPro dealer auto loan?
- Should I find a car first or apply for a car loan first?
- I've been turned down recently. How can a LotPro Dealer Help?
- How much are the monthly car loan payments?
- What are the auto loan rates?
Where can I apply for bad credit financing?
You can apply online on LotPro.com by using our quick and easy car loan application.
You can apply online on LotPro.com by using our quick and easy car loan application.
How much money will I qualify for?
The money down that you will need is based on a number of factors. Most of our dealers have cars for sale that are eligible for no money down auto loans
The money down that you will need is based on a number of factors. Most of our dealers have cars for sale that are eligible for no money down auto loans
How much money down will I need?
The money down that you will need is based on a number of factors. Most of our dealers have cars for sale that are eligible for no money down auto loans
The money down that you will need is based on a number of factors. Most of our dealers have cars for sale that are eligible for no money down auto loans
Can I use my trade in instead of moeny down?
Yes you can use a trade with no money down! Money down, however, may be neccessary if there is money owed on your trade in.
Yes you can use a trade with no money down! Money down, however, may be neccessary if there is money owed on your trade in.
What type of car can I buy?
The average car loan from a LotPro dealer is for a brand new car, one or two year used car with low mileage. Most used car loans with a LotPro Dealers are eligible for a used car warranty.
The average car loan from a LotPro dealer is for a brand new car, one or two year used car with low mileage. Most used car loans with a LotPro Dealers are eligible for a used car warranty.
How inquiries effect my credit rating?
When lenders check your credit score it places an inquiry on your credit bureau report. Inquiries are often interpreted negatively by auto lenders. For this reason, allot of credit bureau inquiries can actually make if difficult to get a car loan.
When lenders check your credit score it places an inquiry on your credit bureau report. Inquiries are often interpreted negatively by auto lenders. For this reason, allot of credit bureau inquiries can actually make if difficult to get a car loan.
How do I qualify?
Auto loan approvals are based on your credit score, disposable income, job time, and money down. LotPro dealers have car loan companies for all types of credit. If need a bad credit auto loan your should earn at least $1,500 per month to qualify.
Auto loan approvals are based on your credit score, disposable income, job time, and money down. LotPro dealers have car loan companies for all types of credit. If need a bad credit auto loan your should earn at least $1,500 per month to qualify.
Will I still qualify if I've had a recent repo?
If there is money owed on the repo and it is less than two years old more money down will be necessary. With No money down LotPro dealers often have vehicles with large new car rebates that qualify for no money down auto loans.
If there is money owed on the repo and it is less than two years old more money down will be necessary. With No money down LotPro dealers often have vehicles with large new car rebates that qualify for no money down auto loans.
Will I still qualify if I'm currently in a Chapter 13 Bankruptcy?
It is difficult to qualify with a Chapter 13 Bankruptcy. You will need an "Authorization to Incur Debt" from the trustee of your bankruptcy and most car loan lenders require that you have completed two thirds of the Chapter 13 Bankruptcy completed. If you have a trade in that is part of the Chapter 13 Bankruptcy the likelihood of your car loan being approved is much greater.
It is difficult to qualify with a Chapter 13 Bankruptcy. You will need an "Authorization to Incur Debt" from the trustee of your bankruptcy and most car loan lenders require that you have completed two thirds of the Chapter 13 Bankruptcy completed. If you have a trade in that is part of the Chapter 13 Bankruptcy the likelihood of your car loan being approved is much greater.
I have no credit score. Will I still qualify?
LotPro dealers have first time buyer auto loans and no credit score.
LotPro dealers have first time buyer auto loans and no credit score.
Do Cosigners help?
A cosigner will help as long as they have a decent credit score and low debt to income ratio.
A cosigner will help as long as they have a decent credit score and low debt to income ratio.
Can I use a LotPro Dealer to finance a vehicle through a private party?
Money from LotPro dealers can only be used to buy a car from the car lot that approved your car loan.
Money from LotPro dealers can only be used to buy a car from the car lot that approved your car loan.
Can I use an auto manufacturer's employee discount (A-Plan, GMS) with a LotPro dealer auto loan?
If you qualify for a GM Employee Discount, Ford Family Plan, or Chrysler Employee Pricing Plus, you can us it to lower your new car price in addition to any new car rebates or incentives.
If you qualify for a GM Employee Discount, Ford Family Plan, or Chrysler Employee Pricing Plus, you can us it to lower your new car price in addition to any new car rebates or incentives.
Should I find a car first or apply for a car loan first?
We recommend that you apply for a car loan first. With a car loan preapproved auto loan will know exactly how much money you have to buy a car.
We recommend that you apply for a car loan first. With a car loan preapproved auto loan will know exactly how much money you have to buy a car.
I've been turned down recently. How can a LotPro Dealer Help?
LotPro dealers succeed where other auto dealers cannot, we only work with leading area dealers in the USA and Canada that have place thousand of special finance auto loans.
LotPro dealers succeed where other auto dealers cannot, we only work with leading area dealers in the USA and Canada that have place thousand of special finance auto loans.
How much are the monthly car loan payments?
Monthly car loan payments are based on car loan interest rates and the number of months given to repay the car loan. If your buy a new car, auto finance rates are often lower than if you buy a used car. Buying new cars normally qualifies for a lower car loan interest rates and longer repayment terms.
Monthly car loan payments are based on car loan interest rates and the number of months given to repay the car loan. If your buy a new car, auto finance rates are often lower than if you buy a used car. Buying new cars normally qualifies for a lower car loan interest rates and longer repayment terms.
What are the auto loan rates with LotPro dealers?
Auto loan rates vary. Low rate auto loans are more likely if you buy a new car. Used car loan rates are slightly higher compared to new car loan rates.
Auto loan rates vary. Low rate auto loans are more likely if you buy a new car. Used car loan rates are slightly higher compared to new car loan rates.