Frequently Asked Questions2017-10-05T14:34:40+00:00
If I visit the dealership what should I bring with me?2017-10-04T20:49:37+00:00

If you have your paperwork ready it will help things move along a lot faster. If you visit a NAFCO affiliated dealership and would like to apply for an auto loan, you should bring the following items with you to speed the application process:

  • Valid Driver’s License
  • Proof of income (such as two recent pay stubs, social security documentation, or pension documentation)
  • Proof of insurance (liability)
  • Proof of residence (a recent utility bill, lease agreement, or mortgage papers)
  • References: Name, address, email and phone numbers for at least 5 references
Can I trade in my current vehicle?2017-10-04T20:49:01+00:00

Yes, we will consider your trade in, even if you have an existing loan on it. Depending on how much you owe on the trade this may affect the amount of your payments on your next vehicle. So keep that in mind. You may want to pay off your current vehicle before trading it in to help keep your payments lower.

How much down payment will I need?2017-10-04T20:48:37+00:00

Our down payment requirements are designed to fit the budget of our customers. The specific down payment requirement you will have depends upon many factors. We want to find a way to make the purchase of a NAFCO financed vehicle simple, fun, and easy. That is why we don’t have one size fits all requirements. Each customer is unique and has specific requirements. Talk to us, let’s see what can be done.

How soon can I know whether my application is approved?2017-10-04T20:48:09+00:00

We will provide you with an offer, based on your application, after we have had a face to face interview. We feel that meeting with our customers and discussing their specific transportation needs and desires allows us to make the best credit decision for the customer. During the interview you will have a chance to ask us about the finance offer and view the vehicles available to you.

What should I do after submitting the application?2017-10-04T20:47:47+00:00

When you submit your application to NAFCO you will be contacted by one of our loan specialist to set an appointment to review your application. We will ask you to bring some documents with you to the appointment to help us make the best credit decision possible. At the appointment, after our interview, we will provide you with an offer based on your application. And after that you can pick out your vehicle.

Can someone get financing to buy a car from a private party?2017-10-04T20:47:22+00:00

NAFCO does not offer financing of private party purchases. All NAFCO vehicles must meet specific condition requirements to qualify for our program. Most private party vehicles do not qualify for financing by NAFCO.

Are there any penalties for prepaying my loan?2017-10-04T20:46:40+00:00

No, you may pay off either a portion of your loan or the entire amount at any time without incurring any penalties. Any payment you make above your regular payment amount is usually applied to the principal balance of the loan.

What do you consider when looking at an application to get a car loan?2017-10-04T20:46:10+00:00

We look at the applicant’s ability to pay back the car loan. A stable source of income is necessary. We also look at how long an applicant has lived in the area, the household budget, other automobiles owned. We are more concerned with your future than your past. We know that bad things can happen to good people.

What types of vehicles are available?2017-10-04T20:45:49+00:00

We offer a wide selection of vehicles to choose from – sedans, wagons, SUV’s, trucks, and vans. The specific vehicles available at any time change as our dealer affiliates’ inventory changes. You will be offered a selection of vehicles to choose from that you are qualified to purchase. One will be just right for you!

Can I apply for a car loan when I have bad credit, no credit or bankruptcy?2017-10-04T20:45:28+00:00

Yes. You can apply for vehicle financing with no obligation or cost. NAFCO financing is designed for the "not-so-perfect" credit customer but we have programs to fit all customer credit profiles. Most people will qualify for acceptance if they have an income source that can be used to pay the loan and meet other acceptance criteria. But you must apply to be accepted.

How secured is my personal information?2017-10-04T20:45:05+00:00

We take every precaution to protect our user’s information. When users submit sensitive information via the website, your information is protected. This site uses special software to offer secure communications by encrypting data submitted on the application. Your data is available only to our authorized associates for the purpose of evaluating your application.

What interest rates should I expect to get?2017-10-04T20:44:40+00:00

Rate of interest depends on various criteria such as your income, credit history, car type, loan amount, period of loan payment and many other factors. Our team of experienced auto finance specialist will assist you in getting a competitive rate, even for people with a "not-so-perfect" credit rating.

How long does the application process take?2017-10-04T20:44:17+00:00

When we receive your application we will contact you so we can discuss your needs and go over the application. We want to offer the best possible car financing based on your situation. The approval process usually takes anywhere from just minutes to a few hours.

Will it cost me to apply for a car loan?2017-10-04T20:43:53+00:00

There is no cost involved in filling out an application for financing at NAFCO. You are under no obligation to purchase a vehicle if we offer you financing.


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