Frequently Asked Questions

Car Loan Frequently Asked Questions

How do I know if I can qualify for a loan to purchase a vehicle?
First of all, you need to have a job that can be verified, and not be currently involved in a bankruptcy. You will need to present a valid driverís license, 3 of your most recent paycheck stubs, a paid phone or utility bill, six references and a cash down payment. With all these, you can drive away in about an hour. If you are not sure where what qualifies, feel free to contact us with any questions you may have.

Will buying from AUTOCREDIT USA really help re-establish my credit?
With the help of our local lender, GCAC, we can help you establish or rebuild your credit as long as you meet your payment schedule. We report monthly to the Credit Bureau, and your repayment promptness is always noted.

What are the benefits of using AUTOCREDIT USA over a new car dealership?
Unfortunately, once a car dealership learns your credit is less than perfect, they may treat you differently. Most likely they will show you a limited selection of older cars, usually of lower quality, without consideration for what you want. At Autocredit USA we listen to your wishes, determine what you need and can afford. Then we find the right car, at the right price, and the best way to get you qualified approved and in the seat of something you want to drive!

How much can I be approved for?
Our calculations are based on your income and all other financial obligations you may have. With that information, we can determine a payment schedule that fits your particular circumstances. That may be weekly, bi-weekly or another plan. Remember, we want to help you any way we can. Unlike traditional car dealerships here at Auto Credit USA we will not hold your past mistakes against you and will work with you no matter your current financial situation.

Will I need a co-signer?
Not necessarily. A co-signer with established credit would help you get approved, but in most cases, it is not necessary. We strive to help our customers get back on track after a financial setback. Which is why here at this buy here pay here dealer our finance center is happy to accept individuals with no credit or even bad credit here in Warsaw, Indiana. Our Goal is to get you back on track in as little time as possible, which is why we do not require a co-signer.

Does it cost to submit a credit application?
Never. We gladly accept all credit apps, in person, online, or by phone. No one is ever flatly turned down without our salespeople exhausting every avenue to get you approved. We understand that our customers are hardworking men and women how have had a few bumps in the road. We will work with you to help you to figure out where you need to be with your credit score. At Auto Credit USA we make customer service our top priority and will exhaust every avenue to get your approved. We will even walk you through how to improve your credit score if you are turned down.

How big a down payment do I need?
That depends on the price of the car and your existing credit score. A more significant down payment will always improve your chances of obtaining approval sooner. With a more substantial down payment, your car payments will be lower as well. Which will give you the ability to pay your vehicle off sooner rather later, by doing this you are on your way to an even better credit score. If you are not sure about how much of a down payment you need or what you can afford, give us a call and we can help you out.
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