Credit FAQ

 

If you have a minimum monthly income of $800, it does not matter how bad your credit is.....you will be approved. Just fill out an application, once we have you approved, we can tell you monthly payments and down payments on each and every vehicle on our lot.

 

 

The banks we use report each payment made to all 3 major credit bureaus, so if you make your payments in a timely fashion your credit score will improve. Your credit score is influenced heavily by your most recent credit, so if you make your payments (all your obligations) on time, the bad will get older and older while the good raises your credit score.

 

 

No, we are not.  We have local and national banks for good credit and we are a Dealer Partner with Credit Acceptance for all other types of credit......no credit, bad credit, even very ugly credit. And because the loans are through a bank, each payment is reported to all 3 major credit bureaus. Buy Here / Pay Here is ok, but generally they do not report to the credit bureaus...so your credit will stay the same.

 

 

There is no set percentage of down payment, each vehicle is different for each person. They only way to find out how much down payment you will need is to fill out an application online or at the dealership. Once you are approved, we can tell you the down payment and the monthly payments for each vehicle on the lot.

 

Do you consider self employed, unemployment compensation, social security, child support, or tips as income?

 

Yes we do with the proper documentation. The following will be needed to prove this type of income:

 

SELF EMPLOYED     If you have a checking or savings account, we will use your last 2 most recent bank statements....We will add your deposits from both months together, then divide that amount by 2 which will prove your monthly income. If you do not have a checking or savings account but you receive checks as payment, we will need copies of the front and back of 2 months worth of checks.

 

UNEMPLOYMENT COMPENSATION     We need proof of unemployment comp such as a stub, eppicard statement if money goes to a card, or a bank statement that will show the money going directly into your account.

 

SOCIAL SECURITY     If you get social security directly deposited into a checking or savings we will need a copy of a current bank statement within the last 30 days, otherwise we will need a current award letter that you can request from the Social Security office.

 

CHILD SUPPORT     If child support is directly deposited into your bank account a current bank statement is needed. An eppicard statement is also acceptable.

 

TIPS or UNDER THE TABLE   income will be accepted only by using your last 2 most recent bank statements....we will add your deposits from both months together, then divide that amount by 2 which will prove your monthly income.