The Benefits of Pre-Approved Financing
Did you know that the average car-buyer now spends more than four hours at the dealership? That’s right, and a great deal of that time is spent in the dealer “F&I” (Finance & Insurance) office, trying to secure financing. Of course, the process is only more protracted if your credit is less-than-perfect.
Instead, we allow you to apply online, ahead of time, and work with a dedicated finance specialist to have your auto loan pre-approved. You will then schedule an appointment at the dealership to choose your vehicle. Both new and used vehicles are typically available for all buyers, regardless of credit.
How it Works: Step by Step
Here at Motive Auto Finance, the process is straightforward.
- Apply Online. We offer a secure online application that takes less than three minutes to complete. Our application placement platform then takes into account where you live, your income, and other factors to match you to a local dealer or lender who is willing to fund your loan. There is no minimum credit score, no fee, and we have very high data protection and security standards.
- Work with your Dedicated Finance Professional. Once your application is placed, you will be contacted by a local vehicle finance specialist who will guide you through the process step-by-step, helping you secure the interest rate, lending terms, and vehicle you want. It is invaluable to have such an individual answer your questions as you complete this process.
- Schedule Appointment for Vehicle Selection. Lastly, with your credit pre-approved, your finance specialist will arrange a time for you to visit your dealership and select your vehicle. Because the dealer knows that you are a serious buyer with your financing already lined up, you can expect an elevated degree of customer service and satisfaction.
Truly, there’s nothing better than walking into the showroom with your funding secured. You can focus on the car you want, not the car loan you need.
Minimum Approval Criteria
At Motive Auto Finance, we pride ourselves on working with clients in nearly every credit tier and income bracket. If you meet the following requirements, you have a good chance of approval.
- Resident of the United States or Canada, 18 Years or Older
- Monthly Income of at Least $1400
- Valid State-Issued Driver’s License
Credit Problems and Financing
Today, around 25% of all new and used auto loans are for people with subprime or “bad” credit. Unfortunately, most banks and many credit unions will refuse to fund such loans, making it much more difficult for these applicants to secure the financing they need.
Fortunately, we have extensive relationships with dealers and lenders who specialize in the subprime market. If bad credit is worry of yours, experience the satisfaction of working with a finance professional who has a wealth of experience assisting credit-challenged consumers. They can guide you step-by-step through the process, helping you to secure the funds you need at a rate from a lender you can trust–at a rate that’s competitive given your credit profile.