Car Loans Frequently Asked Questions

You can apply online on LotPro.com by using our quick and easy car loan application.

The amount of money that you qualify for is based on several factors, including your credit score, income, trade-in, and down payment. It is difficult to estimate how much you will be approved for without a completed application.

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.

Yes, you can use a trade in with no money down! Money down, however, may be necessary if there is money owed on your trade in.

The average car loan from a LotPro dealer is for a brand new car or a one or two year old used car with low mileage. Most used car financing with a LotPro dealer are eligible for a used car warranty.

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, having a lot of credit bureau inquiries can actually make it difficult to get a car financing.

Used car financing approvals are based on your credit score, disposable income, job time, and money down. LotPro dealers have auto finance companies for all types of credit. If you need a car loan for people with bad credit you should earn at least $1,500 per month to qualify.

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 incentives that qualify for no money down auto loans.

LotPro dealers specialize in car loans for people with bad credit, no credit, and even 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 finance lenders require that you have completed two-thirds of the Chapter 13 Bankruptcy. If you have a trade in that is part of the Chapter 13 Bankruptcy, the likelihood of your car financing being approved is much greater.

LotPro dealers have first time buyer auto loans and no credit score financing.

A co-signer will help as long as they have a decent credit score and a low debt-to-income ratio.

Money from LotPro dealers can only be used to buy a car from the car lot that approved your car loan.

The Lotpro dealership network does include new and used car dealers as well as buy here pay here car lots but participation varies greatly by region.

If you qualify for a GM Employee Discount, Ford Family Plan, or Chrysler Employee Pricing Plus, you can use it to lower your new car price in addition to any new car incentives or rebates.

We recommend that you apply for car financing first. With a pre-approved auto loan you will know exactly how much money you have to buy a car.

LotPro dealers succeed where other auto dealers cannot. We only work with leading area dealers in the USA and Canada that have been able to place thousands of car loans for people with bad credit.

Monthly car loan payments are based on car loan interest rates, amount financed and the number of months given to repay the car loan. New car auto finance rates are often lower than used car rates. Buying a new car normally qualifies for a lower car finance rate and longer repayment terms.

Car finance 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 finance rates.