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What does Driver-Advantage do?
What type of car title loans do you handle?
What kind of car can I get?
My credit is shot, what can I do?
Can I trade-in my current car as a down payment for an auto title loan?
What are credit inquiries?
I've recently had a bankruptcy, can I still get approved for a car title loan?
I have little or no credit, will I qualify for an auto loan?
Will I need a co-signer for a car title loan?
I work for an auto maker, can I use my employee discount plan with an auto loan?
What interest rate should I expect?
What does Driver-Advantage do?
Driver-Advantage is a vehicle and
loan finding service. We have
contracts with hundreds of car
dealerships all over the country who
have special departments for
financing people with bad or no
credit. We are not a direct
lender. We offer these
services absolutely free to the
customer.
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What type of loans do you handle?
We handle primarily car loans for people
with little credit, no credit, or poor
credit. We do not handle
motorcycle financing, cars being sold by
a private party, refinancing current
loans, or financing through dealers who
are not within our network, however our
network of dealers includes dealers in
every state and for every make of car.
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We
generally handle financing for all
makes and models of cars that are
brand new or up to 2 years old, and
have less than 36,000 miles.
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My credit is shot, what can I do?
Our auto dealership affiliates have
special finance departments that
were designed with
bad credit in
mind. We will come up with a
financing plan that is tailor-made
around your specific credit
situation.
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Can I trade-in my current car as the
down payment?
Yes, however if there is a lien on
the car that you are trading,
additional cash may be
needed to
settle it.
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What are credit inquiries?
Any time you apply for any type of
credit such as car loans, credit
cards, furniture store financing,
etc., an inquiry is placed on your
credit report. A financial
institution that you are seeking a
line of credit from will naturally
pull your credit report to see your
financial history. But those
inquiries themselves are recorded on
your report, and if you have had
several inquiries in a relatively
short amount of time, it is looked
down upon by somebody new who is
checking your credit report.
Too many inquiries is often
interpreted as an indication that
a
person is carelessly trying to get
credit anywhere he can. Also,
several inquiries would suggest that
companies are not approving you and
so you have been trying again at
other companies. The company
who would be looking at all these
inquiry reports might say "If all
these companies are denying you
credit, then they must consider you
a bad risk."
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I've recently
had a bankruptcy, can
I still get approved?
Yes, as long as the bankruptcy is
discharged.
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I have little or no credit, will I
qualify?
Yes. Our dealerships have
several financing programs for
first-time buyers.
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Will I need a co-signer?
A co-signer may be an option for a
buyer who does not comply with all
of the credit requirements.
However, the buyer's income must
still meet all of the income
and budget requirements regardless
of the co-signer's income.
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I work for an auto maker, can I use
my employee discount plan?
Yes. Just show your finance
representative that you qualify for
the discount(s) and it will
be
applied to the loan accordingly.
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What interest rate should I expect?
The interest rate that your loan
will have depends on a variety of
factors. Rates are based on
things such as your credit report
and score, the equity position of
the loan, your down payment, and
the model year of the vehicle.
Generally rates increase about 1
point per
year old that the car is.
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