Q. May I obtain a
car loan even though I've got damaged credit?
A. Without a doubt! This is our specialty at Hyundai of New Bern. We
partner with a network of lending agencies that specialize in being able to
help people with unfavorable credit ratings buy an auto. Even if you may have
been denied previously, we suggest you try again with us.
Q. Suppose I have
a bankruptcy?
A. The Credit Approval program at can potentially get you authorized for a
vehicle regardless of where you're in the bankruptcy process.
Q. Suppose I told
you I've had a repossession in the past?
A. At Hyundai of New Bern, we've had many purchasers that have had
repossessions in times past. Our business is assisting you, the client, to
re-establish your credit and get past the issues that you have experienced in
the past.
Q. Suppose I told
you I'm disabled or on Social Security?
A. Being on disability would not damage your ability to obtain financing.
Social Security is recognized by loan providers as a source of revenue and can
be used in ascertaining the size of loan you are a candidate for.
Q. What would
happen if I'm self-employed?
A. Being self-employed generally speaking is not an obstacle. Occasionally,
proof of a source of income may not be required whatsoever. If it is, having
verifiable income is the main factor. We'll be able to use tax returns, bank
statements, or cancelled checks.
Q. What happens if
I have a new job?
A. Don't worry, the banks we work closely with at Hyundai of New Bern
look at dozens of factors beyond just job time. We fully understand that
everybody changes occupations every so often and we still have ways to get you
financed.
Q. What about if
my trade-in has a larger balance than what my car may be valued at?
A. Being
"upside-down" on a trade is an enormous obstacle for a lot of car
dealers because their vehicles are actually priced well over retail value. In
our case, we regularly buy automobiles at an excellent value particularly for
trading customers out of negative equity scenarios. Generally, what this means
is we most likely will be able to trade you out of your upside-down trade-in
while rolling over little if any negative equity.
Q. What about if I
do not have money to put for a down payment?
A. At Hyundai of New Bern, we want to speak to you in any event. We've
got numerous programs which permit you to put nothing down. Let us know exactly
how much are are dealing with and we'll try and match the loan package to your
needs.
Q. Suppose I told
you I'm a first time buyer?
A. Even when you have not had the option to establish a record of on-time
payments, we'll assist you in getting there and get you in the driver's seat
while doing so.
Q. Do you offer
military financing?
A. Yes. You'll find we have numerous Financial Corporations that have
specialized in military member financing.
Q. What would
happen if I've got an excellent credit score?
A. Our team has extraordinary plans for individuals with an excellent credit
score including Credit Union Direct financing which offers the most competitive
loan rates in the area.
Q. What if I have
a trade-in?
A. All trade-in cars or trucks are welcome at Hyundai of New Bern,
running or not. Furthermore, we are experts in trading customers out of an
undesirable equity positions. For those who have a trade, we would always like to
have a discussion with you about it.
Q. Should I
acquire a vehicle history report?
A. Yes. We recommend it at Hyundai of New Bern.
Q. Am I allowed to
get a copy of my credit report?
A. Yes, however not from us. We are happy to show you your credit report and
look at it together with you. We will also provide you with your credit score
in writing. We advise going to annualcreditreport.com for a free copy of your
report.
Q. Exactly how
much will my monthly payment be?
A. There's a lot of components which go into figuring out monthly installments
such as amount of purchase, monthly interest rate, term, and down payment. With
hundreds of banks, thousands of packages, and a wide array of vehicles, the
best option will be to contact us with your price range and we'll see what we
can make work for your unique case.
Q. How long does
the application process take?
A. Filling out the credit application physically or online only takes a few
minutes. After the application has been submitted, the bank may request
additional information such as pay stubs, phone bills, bank statements, or they
may not request anything at all. Every bank and every program is different, but
we'll help you get everything completed as quickly as possible.
Q. What do
individuals need to bring with them to try to get a car loan?
A. You should have available the following documents: ID or Driver's License,
Trade Title, pay stubs or proof of income. You may also be asked to supply
utility or phone bills, bank statements, or other similar documents.
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