The answer is it will vary depending on your credit history, personal budget goal and monthly income. A higher down payment usually benefits your being approved. Every person’s situation is unique. Lenders prefer a down payment as it lowers the risk associated with your loan.
The lender will require documentation that supports what you put on your loan application such as:
Usually the lender will require a co-signer on your first auto loan. If you do not have a co-signer option, another option is to get approved with alternative credit and stable work history. Here are items you need when you apply:
Yes. In most cases the lender will require that loan to be paid off as most people find it difficult to make monthly loan and insurance payments on 2 vehicles.
Tennmotors will buy your trade in which makes this process much easier. We will appraise your vehicle and determine your KBB fair market value. Here are some needed items if you are considering trading in your vehicle.
It is very common good people find themselves having poor credit. There are lenders that specialize for poor credit customers. Here are some requirements you can expect:
Once submitted with needed documentation, you can expect an approval decision the same business day except on the weekends.
Tennmotors is here to answer any questions you may have. Please call us , 423-397-2472, and we will do our best to assist you in any way we can.