Prime Auto Finance is a financial institution that specializes in providing auto loans to customers who are looking to purchase a new or used vehicle. They understand that purchasing a vehicle can be a significant financial decision, and are committed to making the process as easy and affordable as possible for our customers.
At Prime Auto Finance, they pride themselves on our commitment to customer service and our ability to provide customized solutions that meet the individual needs of their clients. Their team of experienced professionals works diligently to ensure that customers receive the best rates and terms possible, regardless of their credit history.
They believe that everyone deserves the opportunity to own a reliable vehicle, and are dedicated to helping customers achieve their goals. With their simple application process, fast approvals, and flexible payment options, they make it easy for their customers to get the financing they need to purchase the vehicle of their dreams.
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Services Offered by Prime Auto Finance
At Prime Auto Finance, we offer a variety of services to help our customers obtain the financing they need to purchase a new or used vehicle. Some of our services include:
- Auto Loans: They offer auto loans for new and used vehicles, as well as refinancing options for existing auto loans.
- Bad Credit Auto Loans: They specialize in providing auto loans to customers with bad credit, no credit, or a history of bankruptcy.
- Flexible Payment Options: They offer flexible payment options to help their customers manage monthly payments, including bi-weekly and monthly payment plans.
- Fast Approvals: Their application process is quick and easy, and they offer fast approvals to help their customers get the financing they need as quickly as possible.
- Competitive Rates: They offer competitive rates on their auto loans, and work with their customers to find a payment plan that fits their budget.
- Customer Service: They pride themselves on their commitment to customer service, and their team of experienced professionals is available to answer any questions their customers may have about the loan process.
- Online Account Management: They offer online account management tools to help customers manage their loans and make payments conveniently from their computers or mobile device.
Overall, their goal is to make the auto loan process as easy and stress-free as possible for customers. Whether you have good credit, bad credit, or no credit, they are there to help you get the financing you need to purchase the vehicle you want.
Prime Auto Finance Approval Criteria
At Prime Auto Finance, we have certain approval criteria that we use to determine whether a customer is eligible for an auto loan. While each application is considered on a case-by-case basis, the following are some of the criteria we typically look for:
- Income: They require that customers have a steady source of income that can be verified, such as employment or self-employment income.
- Employment History: They prefer that customers have a stable employment history, although they understand that some may have recently changed jobs or started their own businesses.
- Credit Score: While they specialize in providing loans to customers with bad credit, they do consider credit score as one of the factors in their approval process.
- Debt-to-Income Ratio: They look at customers’ debt-to-income ratio to determine their ability to make payments on the loan.
- Down Payment: They prefer that customers have a down payment to put towards the purchase of the vehicle, although they may be able to offer financing options for those without a down payment.
- Vehicle Age and Mileage: They may have certain restrictions on the age and mileage of the vehicle being financed.
- Age: Applicants must be at least 18 years of age or older.
Prime Auto Finance Application Process
Here’s how to apply:
- Visit our website: Go to their website and click on the “Apply Now” button. This will take you to their online application portal.
- Fill out the application: Provide your personal information, employment information, and information about the vehicle you are interested in purchasing.
- Submit your application: Once you have completed the application, submit it for review.
- Receive a decision: They will review your application and aim to provide you with a decision within 24 hours.
Rates and Fees
At Prime Auto Finance, their rates and fees vary depending on a number of factors, including the customer’s credit history, the amount of the loan, and the term of the loan. Their rates and fees are competitive.
Here are some of the typical rates and fees that you can expect when working with Prime Auto Finance:
- Interest Rates: Prime Auto Finance interest rates typically range from 5% to 25%, depending on the customer’s credit history and the term of the loan.
- Loan Fees: Prime Auto Finance may charge a loan origination fee or other loan processing fees, which can vary depending on the loan amount.
- Late Payment Fees: Prime Auto Finance charge a late payment fee if the customer fails to make their monthly payment on time.
- Prepayment Penalties: Some loans may have a prepayment penalty if the customer pays off the loan before the end of the term.
- Down Payment Requirements: Prime Auto Finance typically requires a down payment of at least 10% of the vehicle’s purchase price, although this can vary depending on the loan amount and other factors.
Payment Options
At Prime Auto Finance, they offer a variety of payment options to make it convenient for their customers to make
monthly loan payments. Some of the payment options they offer include:
- Automatic Payments: Their automatic payment option allows customers to have their monthly payments automatically deducted from their bank account on a specific date each month.
- Online Payments: Customers can make their monthly payments online through Prime Auto Finance. This option allows customers to make payments from their computer or mobile device at any time.
- Phone Payments: Customers can make their payments over the phone by calling the customer service department during business hours.
- Mail Payments: Customers can also mail in their payments using the address provided on their loan statement.
- In-Person Payments: Customers can make their payments in person at one of their branch locations.
Frequently Asked Questions (FAQs)
Here are some frequently asked questions (FAQs) about Prime Auto Finance:
What kind of vehicles can I purchase with a Prime Auto Finance loan?
Their finance a wide range of vehicles, including cars, trucks, SUVs, and vans. They can also finance both new and used vehicles.
Do you offer loans for customers with bad credit?
Yes, they specialize in providing loans to customers with bad credit. They understand that everyone’s financial situation is unique, and they work with their customers to find loan solutions that fit their individual needs.
How much can I borrow with a Prime Auto Finance loan?
The amount you can borrow with a Prime Auto Finance loan depends on a variety of factors, including your credit history, income, and the vehicle you are interested in purchasing. They will work with you to determine the loan amount that best fits your financial situation.
How long does the loan approval process take?
Their loan approval process is typically fast and easy. They aim to provide customers with a decision within 24 hours of receiving their application.
Can I pay off my loan early?
Yes, They offer early payoff options that allow customers to pay off their loans early without penalty.
How do I make my monthly loan payments?
They offer a variety of payment options, including automatic payments, online payments, phone payments, mail payments, and in-person payments. Customers can choose the payment option that works best for them.
What happens if I miss a loan payment?
If you miss a loan payment, you may be charged a late payment fee. You are encouraged to contact them as soon as possible if you are having trouble making your monthly payments so that they can work together to find a solution.