Down Payment: A down payment of 10% of the sales price plus applicable state sales tax, licensing and a negotiable documentary fee is required for all applicants that have been employed full-time for one year or more.  If you have been with your employer for less than a year, on a fixed income or are a student, a down payment of 20% or more of the vehicle price may be required to secure in house financing.

Credit Approval Affordable Auto’s customers are not a number! We do not pull your credit report or credit score to help make our lending decision. If you need an auto loan and have a verifiable way to repay it we do all we can to help you get one. Our approval process simply consists of verifying the information you provide on your FINANCE APPLICATION, which is typically accomplished within hours of its submittal.

Interest Rates: Interest rates vary from 29.99% to 9.99% according to the customer’s down payment and loan term.

Loan Term: Loan terms generally range from 12 to 48 months.

Application:All applicants (and co-makers or co-signers if any) must complete Affordable Auto’s FINANCE APPLICATION, and when approved, provide copies of their current driver’s license, social security card, last two pay stubs (or other proof of income), and last utility bill or bank statement.

Insurance Coverage: All customers financing vehicles with Affordable Auto are required to carry comprehensive and collision insurance with a $500 deductible. Proof of insurance (coverage summary or declarations page) naming Affordable Auto as lienholder is required to take delivery of your vehicle.

Credit Reporting: Most in-house lenders do not report on-time payments to a credit bureau, but Affordable Auto does. We understand the importance of building credit, because credit affects more than just your ability to get a credit card or a low-interest loan. Good credit can help you when seeking employment, renting a house or apartment, establishing utility services at your home, and even lowering the cost of insurance.

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