Basic Car Loan - New and Used Bad Credit Car Loans
Frequent Asked Questions
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Please check below for answers to questions you may have concerning car loans. If you need additional assistance, please contact us.

Q: My credit score is under 700, can I qualify for a car loan?
A: Certainly, many people with lower credit scores do qualify for a car loan with low financing rates. Credit scores are not necessarily the only indicator of whether or not you will be approved for car loans.

Q: Can a person apply for a car loan by phone?
A: Due to privacy issues, we do not accept phone applications. It is much easier, faster, and more secure for you to apply online because the application is on a secure server.

Q: What is the charge for applying for car loans online at Basic Car Loans?
A: Absolutely nothing, the online application is absolutely free, so you have nothing to lose!

Q: How long does it take to process my online car loan application?
A: Once you press the submit button, your information is sent instantly. You will receive notification as soon as you are approved. In many cases, approvals take only a few minutes.

Q: I am buying a car for the first time, are there special programs that help me with a down payment?
A: Yes, first time car buyers are actually very lucky because there are so many different programs to do target buyers such as yourself. This includes down payment assistance programs so it probably won't be necessary for you to have a large down payment right away.

Q: My credit is ok, but I currently have a car loan that carries a high interest rate, can I refinance my car loan at a lower rate?
A: Most likely you will be able to refinance your car loan if you are current on your payments and have no other recent credit issues.

Q: Will I be required to have a co-signer in order to be approved for car loans?
A: Although, your circumstance may be different that others, usually a co-signer is not needed. If you have a recent bankruptcy, repossession, or other negative credit issues, it may be necessary to have a co-signer.

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