Questions from buyers
If I choose to get one of these vehicles, can the owner change his mind and take his vehicle back?
Once you've paid the necessary charges and provided the proper insurance, you have a contract with the owner that permits you to complete the term of the original financing. You can lose the vehicle ONLY if you default on the terms of that contract (e.g., fail to make a payment, cancel insurance...).
Does the bank have to approve my credit?
Since this contract (the Use Agreement) is between you and the actual owner of the vehicle, the bank is not involved in the approval process.
How will my finance rate be calculated?
When you take over existing financing, the interest rate and terms of the original financing remain the same. There is, effectively no penalty for previous credit issues.
I have had past credit problems - can I still get financed?
Your FICO Score is rarely a consideration. If you can prove you earn a stable income, have a valid driver's license and can provide the necessary and appropriate insurance, you should qualify to take over payments on the vehicle of your choice.
How old do I have to be to get financed?
You must be at least 21 years old to take over a loan or lease. If you are younger, you must have a family member that will cosign your application.
What documents do I need to purchase a vehicle?
Please bring a valid state-issued driver's license, proof of your residence (utility bill or bank statement mailed to you), proof of income (check stubs, bank statements, payment receipts, etc.) and proof of your current auto insurance. If you are not presently insured, you may be required to submit a copy of your driving record. You will be provided a Closing Check List for the vehicle you want which contains a list of all required documents.