Frequently Asked Questions

1) I have great credit and want a direct loan for a private purchase or I want to "pay cash" at a dealership.
No problem! If you have excellent credit, you may qualify for a direct loan. Just apply now, and if approved, your check will be in your mailbox tomorrow.

2) Why are you sending my application to a dealer in my area?
Most banks, finance companies, and credit unions will only loan money for a car or truck when there is a dealer involved. This is called an indirect loan. The dealer is there to "structure" the sale of the car to you. The dealer collects all of the necessary paperwork that the lender may need and then sends that information to the lender. Remember, over 80% of people buying cars today must go through this indirect process. We only work with the best dealers in your area to ensure a pleasurable experience.

3) I do not have excellent credit...how can Carloan.com help?
Almost 80% of all adults have at least 1 black mark on their credit report. If you do not qualify for a direct loan, our national dealership network can help provide you with a loan or a lease on a new or used vehicle.

4) Can I get a loan and a car?
Our participating dealers have thousands of new and used vehicles available and are experts in obtaining you the financing you deserve. In most cases you can drive the vehicle home on your first visit.

5) I need a second car with a low monthly payment. Can I find a late model car that will have a low monthly payment?
Yes. The Carloan.com dealer network has great dependable cars with finance programs that can keep your monthly payments low!

6) Is the information that I submit on Carloan.com secure?
Absolutely! Our web site has a secure certificate from Thawte, so when you hit the submit button, the information that is being transmitted is encrypted.

7) What are the interest rates for my car loan?
Your interest rate is influenced by several factors; whether the car you want is new or used, the amount of your down payment, your credit history, and the term of your loan. Your credit specialist will explain the details to you.

8) How long does the process take?
Most customers are contacted within 60 minutes.

9) My credit rating is not great. I have had some problems. Can Carloan.com help me too?
Yes. The Carloan.com dealers and lenders will help you work through your past problems. They are experts at arranging financing for a vehicle that fits your personal needs and budget.

10) Are there any fees with Carloan.com?
There are no fees for this service.