Frequently Asked
Questions
ApproveNow prides itself on helping people in bad credit situations get the preapproval needed to obtain auto financing. Our service is geared toward helping others through our easy application process that can offer you a decision within minutes. We get you connected to dealers to get you approved for a car loan. Our service caters to those who have limited options when it comes to obtaining financing. We feel that you should have an equal opportunity to get the car you want, despite your credit history, bankruptcies or repossessions.
We work hard to get you connected to the lenders and dealerships that want to help you, regardless of the information contained in your credit file. In our process, there are no fees during the application process. All that we ask in return is that if you enjoyed the experience, please share our company’s information with your friends and family so they can apply and take advantage of the same opportunity.
Below, find some of the most frequently asked questions we’ve heard at ApproveNow. If you find that your question is not listed, please feel free to reach out to us using our contact page and we will be happy to get back to you as quickly as possible.
Once connected with a lender that is willing to finance you, you will need to bring the following items with you to the test drive: Your current driver’s license, last two pay stubs, proof of address (current utility bill), names of family members and friends (references) and a down payment.
The dealership will also verify your identity with the other items requested (driver’s license, utility bill, etc.) and work to get the approval you need. The dealer will then take your specific situation into account in order to make a determination about the down payment needed (if any), your monthly payment amount and the interest rate. Up until you sign the financing documents, you are under no obligation to make a purchase.
Credit scores tell companies like ours what you have done in the past, but we wish to help you look toward the future. That’s why majority of the lenders and dealers we work with won’t run your credit and/or do not approve your loan based on your credit.
When you fill out your online application, your job is your credit and we will not run your credit report in determining your ability to get into a car. As long as you have monthly income and a stable residence, you can start the application process and get the help you need in obtaining financing.
The amount of the down payment is dependent on different factors such as your history of late payments, vehicle repossessions and other financial factors that are unique to each lender.
We connect you with lenders that are skilled in providing or obtaining auto loans for your particular financial situation. These companies will walk you through everything you need to know in order to get you in the car you deserve. Don’t let bad credit, repossessions or a bankruptcy filing get you down. Our dealer partners will help you get approved for financing in a quick and painless process.
As with any of our dealer partners, their requirements for down payments (if any) are based on your specific situation with regard to your history of payments and repossessions. These factors will be discussed when you get to the dealership to obtain financing.
In some cases, the value of your pre-owned vehicle can serve as your down payment. Having said that, the amount of the trade-in value is dependent on a number of factors (vehicle age, condition, mileage, etc.) and should be discussed directly with the dealership.
How It Works
Need auto financing? We can help. ApproveNow is in the business of financing, matching auto buyers with sub-prime lenders to facilitate successful purchases. In three simple steps, you can connect with a lender or dealership ready to assist.
Dealerships like these specialize in helping those who need vehicles by offering in-house financing. If you’ve been torn down by your negative credit situation, then you owe it to yourself to get the car you need.
In the event that you do not pay your payments on time, it is up to them to take possession of the car if they so choose. This information is covered in your financing agreement along with the term of the loan, monthly payment due and interest rate. Read all of your documentation carefully at the dealership in order to understand the terms of the agreement.
In building credit, you are telling future creditors that you can be trusted to make your payments in a timely manner. If you’ve had a bankruptcy that has been discharged, any payments that show “paid as agreed” on your credit report serve to rebuild your credit report. In turn, this increases your FICO score and offers you the ability to seek future financing with lower interest rates.
If you have a friend or family member with a good job and credit, asking them to serve as a co-signer can only benefit you and your credit report in the long run.
When contacted by an authorized dealer representative, you may ask them their specific requirements for auto financing.
We do all of the hard work so you don’t have to. With our easy to use system, you can fill out our application and get a decision within minutes.