Requirements for High Risk Loans & Special Finance Auto Loans

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Attention

Qualification Requirements for Special Finance Auto Loans


Require

Our dealers utilize numerous special finance auto lenders sources. They can usually find a lender to fit nearly any high risk credit situation. This will include low income applicants who may also have the bad credit and need a high risk loan TODAY? The following list is for general information purposes. Meeting the minimum requirements does not automatically guarantee approval. Approvals are subject to verification of all information. So take a look at the requirements below and if you feel like your are a perfect match for auto loans for higher risk shoppers, then by all mean please apply now to be matched with a dealer in your area.

Meeting the minimum requiremens does not automatically gurantee approval. Approvals are subject to verification of all information. So take a look at the requirements list below and if you feel like you are a perfect match for auto loans for higher risk shoppers, then by all mean please apply now to be matched with a dealer in your area.

Proof of Income

  • Salary Applicants: Must provide a current pay stub with year-to-date earnings.
  • Military: Must provide a current Leave and Earnings Statement (LES).
  • Self Employed / 1099 Contractor: Must provide most recent 2 years of complete Federal tax returns including all schedules.
  • Non-Salary Income: Must provide most recent 2 years of completed Federal tax returns including all schedules.
  • Child Support: Must provide for the term of the loan with official court documents.
  • Government / Retirement Benefits: Must provide current benefit letter that proves stated income for the term of the loan.

Bankruptcies

  • Chapter 7: Must be dismissed or discharged.
  • Chapter 13: Must be dismissed or discharged. If bankruptcy is still open, the current plan schedule and authorization letter from the Trustee is required.

Residency

  • Financing is available to United States and Canada residents who are at least 18 years old.

Eligible Vehicles

  • New or late model vehicles less than 6 years old, and less than 75,000 miles.
  • No commercial, exotic, or salvage vehicles.
  • No motorcycles or recreational vehicles.

Repossessions

  • No repossessions in the last 12 months unless included in a bankruptcy that is now discharged.
  • No multiple repossessions without a co-signer / co-buyer.