Finance FAQs

he dealership business manager is a dealership employee who gives you a preliminary loan approval based on your credit qualifications. Dealership business managers will not approve the sale of a vehicle unless they are confident that they will be able to secure you a loan based on your credit qualifications, but ultimately the bank or credit union makes the decision to fulfill your loan request.

Because different lenders have different qualifications for getting a loan, and because credit qualifications vary dramatically, it is possible that a lending source may deny your loan application. If a lending source denies a loan application, they are required by law to notify you personally. Please note, however, that this does not invalidate your vehicle purchase. Your dealership business manager will already know about this denial and will have already begun working with one of many other available sources to secure a loan for you. We are successful at this the vast majority of the time, and this should not be a concern to you. If you receive a loan request denial and would like to contact the dealership to ensure that we have secured a loan for you, please call your dealership contact.

Once the loan on your new vehicle has been secured and the funds have been received by the dealership, but no longer than 30 days from purchase, accessories may be installed on your vehicle.

Possibly. We collect all the information generally required to complete the loan process during the vehicle sales transaction. Sometimes, however, a lender will require other specific documentation based on your individual situation. The dealership will contact you for this additional documentation. We ask that this documentation be submitted as promptly as reasonably possible in order to ensure timely delivery of your license plates.

Once the loan on your new vehicle has been secured and the funds have been received by the dealership, the trade payoff amount is disbursed to the lien holder on your old vehicle. If a payment on your current loan is due, we recommend making that payment. This will ensure that no missed payments show up on your credit report. Your bank will refund any excess funds received by your bank once the lien has been released.

Once the loan on your new vehicle has been secured and the funds have been received by the dealership, our business office submits the necessary paperwork to the state's Department of Motor Vehicles (DMV). The DMV processes the transaction and sends the vehicle plates to the dealership. The dealership business office will then contact you to let you know that the plates are ready and set a time for you to come in and have them installed. The time required to get the plates will depend on two primary factors: the amount of time required by lending sources to approve your loan and the amount of time required by the DMV to process your registration and return your plates.