- What vehicles can I finance on your site?
EACH AND EVERY VEHICLE! Once you have been approved for the financing, you can use the funds you receive to purchase any vehicle you want on our site. You can also use these funds towards your deposit, shipping costs and any other services on our site.
In fact, and here’s the trick, if you are interested in one of our cars but feel the auction bidding price will end up being higher than the funds you have available, get per-qualified now so that you are able to bid on (and win) that car.
- Who can get financing?
Whether you have a great credit score or not, all types of credit scores and profiles will be considered. Our financing partners work with all types of customers to provide financing solutions. Fill out the application and see if you pre-qualify for financing.
- How do I pre-qualify?
Fill out this short application and see if you qualify. The financing offers you get will depend on the financing institution and your credit history and profile.
- Does pre-qualification impact my credit?
No, it does not affect your credit score. Our financing partners will perform a soft pull on your credit. This has no impact on your credit, but it will let you know what your potential loan amount is.
- Do I need to be based in the USA?
Yes. This financing is only available to United States residents.
- How much down payment do I need to provide?
You don’t have to put anything down! Your loan application does not require a down payment as part of the pre-approval (or approval) process.
- What will the lenders require from me for the financing?
Each Lender has different requirements as part of their approval process. Once you accept your pre-approval offer, the Lender will advise you what additional documentation and/or information is required. Generally, this process should be straightforward. You can check out the lender’s customer service page for more information.
- Okay, so how much can I actually borrow?
Anywhere from $1,000 to $50,000 (and we are working with our financing partners to increase the maximum amount). The amount of the loan (as well as the term and the interest rate) all depend on your credit profile. See if you qualify: fill out the application here.
- What is the term of the Loan?
The term is based on your credit history and profile, amount of the loan and other pertinent factors. Generally, these loans range anywhere from 6 months up to 60 months.
- What is the APR (annual percentage rate) of the loan?
Again, this will depend on your credit history and profile, how much money you have requested, the term of the loan and any other relevant factors. Our financing partners provide financing at rates as low as 4.99% (for an excellent credit history and profile) and we have seen rates above 30%. If you are interested in seeing what you qualify for, fill out the application here.
- When will I know if I have Pre-Qualified for Financing?
Usually you get results in minutes. Sometimes, it takes slightly longer, but generally the results are quick. You will get these results in your email so make sure to check your email (and junk mail in case it went there).
- What happens AFTER I have Pre-Qualified for Financing?
Once you pre-qualify one of our Auction Specialists will contact you to discuss your car buying options and next steps.
- How long after final approval of the Financing will I get the Funds?
Usually it takes two days for you to get funds following approval of financing. Remember, the time begins ticking after you have satisfactorily provided all the documents and/or information the Lender has requested.
- Should I get an auto loan through your site or through my bank/financier?
Our main goal is to provide you with access to vehicles priced at or below dealer cost. The ability to get financing with our financing partners is simply a tool we’re providing you so that you can more easily buy these cars. We added this financing option so that you don’t miss out on the opportunity to buy the car you want at an unbeatable price! You are, of course, welcome to use financing from your bank or other sources you have; the choice is yours where and who you borrow from!