CAR LOAN FAQs

Our Top Question

Why must you tell me my car loan details in person?

Two words -- identity theft. We spend a lot of time and money protecting your personal information, and quite frankly, without information security we are out of business. Considering we've been at this for coming up on 20 years, we've compiled a very good record and we plan to keep it that way.

A face-to-face meeting with a local finance officer isn't a hassle, it's a benefit to you. We routinely have people go from the loan appointment to driving a new car within a matter of hours.

Frequently Asked Questions

Why do you work only with dealers?
Because the overwhelming majority of lenders -- including banks, finance companies, and credit unions -- will only loan money for a car or truck if a dealer is involved. Most car loans are actually what's known as Retail Installment Sales Contracts. That's where a dealer structures the deal, collects the paperwork, and then shops the loan to a lender. One of the advantages of a site such as CarLoan.com is that our dealers are connected to hundreds of lenders, which gives you better odds at a better rate.

What kind of interest rate can I expect?
The chart at right gives you a starting point, based on your credit history, but be advised your final rate will depend upon the length of the loan, upon whether it's for a new or used car, and the amount of your down payment.

How long will it take to get my loan?
We have one of the shortest applications of any online auto finance Web site, and after screening and routing in our home office, applicants generally hear from a local loan officer within an hour (though, obviously, that depends on the time of day when you apply). Most of our approved customers go from application to new-car-smell in less than 48 hours.

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