How it Works
Capital Auto Loan was created to help all types of people obtain the car loans they need. Good credit or bad credit it doesn’t matter, we have a plan that is right for you. You simply apply on-line using our easy to follow application page. Once you agree to the disclosure information, the application proceeds to our office, all transferred on a secure website. From our office your application will be forwarded to one of our network affiliates that has agreed to help our customers in your area. We are fortunate to have someone as willing to help as we are in almost every state in the country, so no matter where you are, we can assist you.
FREQUENTLY ASKED QUESTIONS (FAQ)
Is there a cost for applying for the auto loan?
There are no fees, no cost or obligation after you apply, no processing fees or upfront fees.
How long will this process take?
The auto loan application only takes a few minutes to complete. The application processing takes from 1 hour up to 24 business hours to complete. Once your loan has been approved an authorized loan representative will contact you to schedule an appointment. Enjoy a stress free car buying experience by applying today from the convenience of your home. Click here to apply online
Can I apply with some past credit problems?
We understand that most people have had some credit problems at one time or another. We have programs available for almost any credit situation including late payments, divorce, charge offs, bankruptcy, repossessions and much more. Read more about car financing basics and car buying tips.
What is the difference between sub prime and prime auto loans?
Special Finance or sub prime borrows are for people with bad credit, interest rates are generally higher. Prime lending is for people who have excellent credit, with no recent derogatory marks on their credit history.
Should I apply now or after I find the right vehicle?
Apply now and find the right auto loan before shopping for a vehicle. Determine the payment amount and terms upfront that fit your budget. Then shop for a vehicle with auto loan approval. This will help you to negotiate a better deal with most auto dealers. Read more about car buying tips.
Does applying to multiple lenders for auto financing have a negative affect on my credit bureau score?
The credit reporting agencies say that all credit inquiries within a 14 day period associated with one type of buying are consolidated into one inquiry for scoring purposes. If you are applying for an auto loan and then apply for another type of credit it may affect your ability to extend credit.
What determines my auto loan interest rate?
Interest rates are based on several factors including your credit rating, payment history and income to debt ratio. Other factors include down payment and vehicle factors like year, make, model and mileage. These factors vary with different lenders.
Do I need a down payment?
Down payment amounts vary based on your present credit standing. It is possible to purchase with as little as no money down. Most lenders recommend that you do not finance the tax and license amounts in the loan. These fees are about 10% and are recommended as a down payment or as trade in equity. Read more about car buying and your credit.
What basic criteria are needed to apply for auto financing?
You must be at least 18 years old. Your monthly income from one source of employment and "other income" (court ordered child support, documented rental income, etc.) should be a minimum of $1,500 with credit scores less than 620. All bankruptcies must be discharged. No repossessions in the last 12 months unless included in the bankruptcy. Lender criteria varies no all applicants will qualify. Read more about car financing basics.
If I purchase a vehicle from an auto dealer, how do I know that I am getting a good deal?
Our nationwide authorized dealer network has thousands of new and used vehicles to choose from. They are committed to providing you with the best service possible, the right car, truck or SUV at a price and payment that fits your budget. Apply today. |
