How It Works - FAQ
Q. Can I finance a vehicle if I don’t have any kind of credit score?
A. yes It is quite common for a young person not to have a credit with the credit bureaus because they don’t have any financial history. Rarely do you find an adult with some type information on their credit report unless have moved here from some other country. Orlando Car deals is one of the few places that will grant a person credit without any credit score. Often the only other way to build credit is to have someone with a good credit report cosign for that person. At Orlando Car Deals you do not need a cosigner. The answer is yes, you can finance a car without any credit.
Q. Can I buy and finance a car right after my bankruptcy was discharged?
A. yes When your bankruptcy is discharged you can be approved for an auto loan with Orlando Car Deals. However you will need to bring documentation from the courts that the bankruptcy is discharged. Most auto lenders won’t approve you for a loan until you have reestablished your credit which could take some time.
Q. Can I get a car at Orlando Car deals if I have really bad credit?
A. yes even with extremely bad credit if you visit Orlando Car Deals we can make it happen.
Q. Do I have to have a cosigner to get a buy here pay here auto loan?
A. no You the buyer will stand on your own merit for their ability to buy and finance a car.
Q. Can I pay off a buy here pay here loan early?
A. yes we will be more than happy to accept your money if you want to pay your loan off early. We offer simple interest loans with no prepayment penalty.
Q. Can I buy and finance a car at Orlando Car Deals and drive it home the same day?
A. yes if you meet all the conditions that are required. The dealer will need to receive a down payment , verify you have a valid license, You must have Full coverage Insurance listing Orlando Car Deals as the lien holder, and provide 6 references. Then you will be able to take your new car home.
Q. I am currently in bankruptcy. Can I get approved at Orlando Car Deals.
A. no after your bankruptcy is discharged we can help.
Q. Will paying a buy here pay here loan help raise my credit score?
A. yes The only way that your credit score will be improved is on time payments for an extended period. We do report to the credit bureaus and this will help your credit improve if you pay on time.
Q. What are the interest rates that buy here pay here dealers charge on their loans?
A. Normally the buy here pay here car dealer is going to charge about 28% interest. Orlando Car Deals Highest rate is 24% and can offer rates much lower based on credit score and income.
Q. Is a down payment a requirement to get a car at Orlando Car Deals?
A. yes there is a down payment of some type required on all loans. Our loans start at as little as $500 hundred dollars and some require 10% down payment . This will depend on many different factors such as the borrower, the vehicle, the income of the borrower and the credit situation. Remember We are taking a big risk and would like to know that you are going to be responsible enough to pay your payment on a regular basis and one way to prove that is ability put some money down at the time of purchase.
Q. Does Orlando Car Deals charge to apply for an auto loan?
A. no We are here to help you get the loan you need.
Q. Can I trade in a car at a Orlando Car Deals?
A. yes and it is a good way to provide a down payment, The condition and value of your trade-in is important, we do not take trades with negative equity ( meaning you owe more than the car is worth).
Q. What kind of things should I bring to Orlando Car Deals to buy a car?
A. There is a list of things that you should bring with you to make your car buying experience smooth. To start with your need a valid drivers license, your available down payment,. Pay Stubs or income verification( tax returns, bank statements, or ssi benefits letter. You should also have the names, addresses and valid phone numbers of 6 or more people to supply for valid personal references ( they have to have separate addresses and not live with you,. That should be enough to get you started and make things go smoothly. You must have full coverage insurance before you leave.
Q. Do I need to prove my income in order to get a loan at Orlando Car Deals?
A. It always helps we can finance everyone. Self-employed, 1099, SSI, SSD, Cash Job, Retirement, Disability, If you have the ability to pay we can make it happen,
Q. How much down payment do I need to get a car loan from Orlando Car Deals?
A. The down payment requirement can vary greatly depending on the vehicle. Every customer has a unique situation. It can be as little as $700 out the door or as much as 50% of the purchase price. Each transaction is different.
Q. Do you have to buy a warranty for a car that Orlando car Deals is selling and financing?
A. no you don’t need to buy a warranty for your car, but it’s probably a very good idea. A Warranty protects both you and the dealer. Think about if for a minute, you are buying and financing a used car. If it breaks down you not only need to pay for the repair, but you need to continue making your payments. Being that you have bad credit can you really afford to pay for both at the same time? Extended used car warranties can be a very good thing for both the lender and borrower. The price of our extended warranty is only $595.00 if available for the car you are buying.
Q. I don’t have my payment, what can I do to keep the dealer from repossessing my car?
A. The first thing you need to do is call your lender that is financing your car. Don’t call them after the payment is due, call them before the due date and tell them your reason. They will usually try to work something out with you, but if you wait until after the due date you will probably get your car repossessed.
Q. Where does Orlando car Deals get their cars?
A. Orlando Car Deals their vehicles from a number of different sources. They buy automobiles from private parties, auctions and car dealers that take trade-ins on new cars. We search everywhere for good, solid reliable used cars and will buy from just about anywhere as long as the vehicles meet with our approval and pass our pre delivery inspection.
Q. Do all Orlando Car Deals cars get inspected and repaired before they are offered for sale?
A. yes we are very particular about the vehicles we sell and finance. We know that customers with bad credit are not going to make their payments on time if they sell them cars that are unreliable. We service, repair and recondition as needed so they are sound vehicles and free from defects and problems. Happy customers make their payments on time and people that have cars that break down don’t. It’s just a responsible business practice for us to inspect and repair our cars.
Q. Does Orlando Car Deals sell and finance cars with a salvaged title?
A. no we do not sell nor will we ever sell Salvage cars.
Q. How expensive of a car can I get at Orlando Car Deals?
A. The price of the car that we will allow you to finance will depend on your personal credit and financial situation. Each customer is different as so are their vehicle requirements.