Frequently Asked Bad Credit Car Loan Questions
Q: How do I apply for bad credit auto loans?
A: Go to our online application and fill out our secure credit application.
Q: Can I choose to purchase either a new car or used car?
A: Our dealers handle both new and used vehicles. Your local dealer will work with you to put you in a vehicle that best suits your financial situation
Q: How long does it take to receive a response to my auto finance application?
A: In most cases it can take up to 24 to 48 hours for one of our lenders or dealers to contact you. However. It may take longer if you applied on a weekend or holiday, please allow 72 hours to be contacted
Q: How much can I borrow?
A: Any amount from $500 - $40,000, depending on your ability to repay. Simply tell us how much you're looking for, and we'll try to find the right loan for you. If you are unsure how much of a loan you can get, feel free to try out the income and expenditure exercise.
Q: What happens if I complete the online application form and then change my mind?
A: By completing our online application you are under no obligation to proceed.
Q: How confidential is my application?
A: All applications are treated in the strictest confidence. Your bank, employer and so on will not be contacted without your permission. Q: What type of vehicle can I purchase?
A: GTA Car Loan's national network or dealers and lenders provided bad credit auto loans for the purchase of new or used cars, trucks and SUVs
Q: What do I need in order to obtain a loan?
A: Valid driver's license, Proof of income, Proof of residence, Current insurance
Q: Will I need a large down payment?
A: Down payment requirements depend on a number of factors including the type of car financing you qualify for as well as, your credit history, our employement history, the type of car you would like to purchase, and your current financial situation.
Q: Can I qualify for a used car loan with a past bankruptcy or repossession?
A: Yes, you can qualify as long as you have been discharged from bankruptcy and have not had a vehicle repossessed within the last twelve months..
Q: Is my Credit Application information secure and private?
A: Our website employs 128-bit encryption technology and secure socket layers to protect the security of your information. Encryption is the process of transforming meaningful information (clear text) into coded language (cipher text). Before any of your personal information is transmitted, it is converted into an unrecognizable string of characters - helping to protect the privacy of your information as it is transmitted over the Internet. Your information is then decoded back to meaningful information upon receipt by GTA Car Loans. Since our website uses 128-bit encryption, it is over 300,000,000,000,000,000,000,000,000 times more powerful than 40-bit encryption used in some older browsers.
Q: Do bad credit auto loans help me to re-establish my credit?
A: Yes, All our lenders report to the major credit bureaus. As you make regular monthly payments this activity is reported to the three major credit bureaus and your credit will slowly improve.
Q: Are there any fees to apply online a bad credit auto loans and am I obligated to purchase?
A: No, This is a completely free service. You are under No Obligation to purchase a vehicle from our dealers.
Q: Will I require a Co-Signer?
A: Everyones financial situation is different, if your credit is not too bad or your financial situation indicates you will able to afford the monthly new car loan payment you may qualify without a co-signer.
Q: What will the interest rate be on my auto loan?
A: Your auto loan rate will be based on a number of factors including, credit score, past credit history and loan type.
Q: I have Poor Credit, can I still get a used car loan?
A: Yes, there is a good chance you will qualify for a new car loan or a bad credit auto loans. Click here to apply online and a dealer will be in touch with you shortly
Q: I don't have any credit, can I still apply?
A: Yes, our lenders offer a number of programs which are designed for first time auto buyers who have no credit.
Q: What happens if I am taken ill or made redundant and have difficulty in making the repayments?
A: Our lenders can arrange comprehensive insurance policies to help you should the worst happen.
Do you have a question that isn't covered here? Please feel free to make an enquiry using the contact us section of our website and we'll be more than happy to get back to you with the information you require.