They say ignorance is bliss. But, it is not true when you are looking for an auto loan. Know everything about the auto loan process. Make an informed choice with CarDestination.
Does CarDestination provide auto loan services in every part of America?
CarDestination offers low rate auto loan program in all the 50 states of United States of America as well as the Federal District.
What constitutes the eligibility criteria for applying with CarDestination?
1. Valid SSN
2. Minimum age should be 18
3. Income should at least be $1500
4. No social security income
5. No open bankruptcy
6. No repossession in last 1 year
7. Car should not be older than 9 years
What safety measures are taken by CarDestination?
Cardestination.com is an extremely safe website. It uses 256 bits encryption to safeguard personal data. Highly advanced SSL technology is a proof of the level of commitment towards customer security.
Does CarDestination finance all cars?
CarDestination approves auto financing for several types of vehicles. If you want to buy a new car, used car, small trucks, SUVs and mini-vans, you can fill the online auto loan application form. However, automobiles purchased from a private seller won't be accepted.
What types of vehicles cannot be financed by CarDestination?
Car buyers should remember that there are few vehicles which are not financed by CarDestination. Following is the list:
3. Recreational Vehicles
4. Commercial Vehicles
5. Vehicles which are converted/modified
6. Automobiles purchased from Grey Market
7. Cars purchased from Private Party
8. Lemon cars
9. Classic Cars and Vintage Cars
10. Muscle Cars
11. Vehicles which have been salvaged, rebuilt or branded title vehicles
How are interest rates calculated?
A number of factors determine the interest rate. Information like car loan amount, loan term, car details, credit score/credit history, financial profile, employment details, etc. are considered to calculate the rate.
What is the meaning of no obligation auto loan quote?
No obligation auto loan quotes are offered by CarDestination to all credit seekers. It means that applicants are given full freedom of accepting or rejecting the loan quotes. This is the company's way of ensuring that every car buyer can take the right decision without any pressure.
Is there any application fee for submitting loan request?
CarDestination advocates affordable auto loan programs. So, it doesn't charge applicants for submitting loan requests. You can fill the application form on the secure website and gain access to no obligation quotes without any application fee.
Can CarDestination provide approval on bad credit auto loans?
CarDestination is a website that works for everyone. It's okay if a credit seeker has bad credit history. The company has experience of working with individuals who have credit troubles. It provides highly customized programs to help you build your credit score as well.
Is down payment mandatory for submitting the online application form?
CarDestination works hard to provide applicants with trouble-free loan process. The company knows that it is difficult for an average American to get together money for down payment. Also, it understands that most people don’t want to part with their savings. It is for this reason that the company has decided to make down payment optional. Car buyers can make down payment of their choice. If they want to forego money down, they totally have the right to do so.
Is it compulsory to fill the application form online?
CarDestination is able to generate quick and accurate results because of its unique online application process. The online application form's design has been finalized after a thorough research. It only collects useful information in an extremely secure way. If an applicant sends information offline, important data may be missed. This may create problem in providing quick approval. So, the company has made it a rule to process only those forms that have been received via the website.
What is the importance of personal information in the process of auto loans?
How is loan amount decided?
The amount that is loaned to a credit borrower depends upon credit history, credit score, income, employment details, cost of car, trade-in-amount, down payment, etc. These factors are different for every applicant and so the loan amount changes for everyone. If you want to know your loan amount, please apply.
How to track the status of the auto loan application form?
After completing the loan request on the website, the credit borrower can inquire the loan status with the help of Contact Us Form.
How are applicants contacted by CarDestination?
CarDestination's loan process will take approximately 2 business days to complete. Once the application is accepted, the company's representative will contact via phone call or e-mail address.
Is there any penalty for making payments before due date?
CarDestination strongly advocates that every individual is the best judge of his/her situation. So, if any credit borrower wishes to make early payments. It is absolutely fine with the company. It doesn't charge any pre-payment penalty for making payments before the scheduled date.
Is refinancing facility available at CarDestination?
CarDestination doesn't provide auto refinancing option to car buyers.
Is there any application fee for submitting loan request?
CarDestination just provides auto loans for new cars and used cars. It doesn't provide private party auto financing in America.
Are Title Loans offered by CarDestination?
CarDestination doesn't offer title loans.
What are the possible reasons for car loan rejection?
CarDestination doesn't give undue importance to credit score or income. It evaluates a loan application on several grounds so that no injustice is done to applicants. Approval or rejection is the outcome after thorough consideration of credit history, income, employment, loan amount, loan term, down payment, co-signer, etc. The company studies the applicant's profile meticulously to determine the risk factor. It is possible that a credit borrower's loan application is weaker in several aspects making him/her a risky proposition. In such a scenario, an application can be rejected.