FAQ

1. What Information should I offer when applying for the loan?

When applying for a loan with an online lender, you will be required to give your personal data such as your name, phone number, address, employment information, income US citizenship and email address. Other documents may also be required of you depending on the auto loan request such as; W-2 form, financial statements, bill of sale, federal tax returns, proof of income, title and lease buyout clause.

2. How is the loan application processed?

The application goes through the following steps

-The lender collect your form you have filled on their website.

-The information includes your income, employment details, income and your previous credits experience.

-The lender evaluate your information regarding your details to make a loan decision

-They shall notify you of the decision achieved in the shortest time possible.

3. Can I get a lower interest rate?

Your loan interest rate will depend on your credit portfolio. Therefore, lender shall offer the best rate depending on the portfolio.

4. How soon will my online loan be approved?

The decision is usually out in less than 24 hours, but it may take longer for loans that require a more detailed review.

5. How do I check the status the auto loan?

Most of the times, you’ll need to login to your account on the lenders website and check your status. Besides, most lenders will send an email notification informing you of the loan balance and loan status.

6. Is there any charge an application fee?

Most of the times, No. There is no application fee at Calculatorforloan. There are no added fees for document preparation too.

7. Can I be financed if I have bad credit?

Yes. If you’re looking for money but you have bad credit, we can suggest the online lenders who provide loans to customers with bad credit. You can even get a loan approval without credit at all, and your credit score will not be affected by applying for an auto loan with the lender.

8. What can I do if I have an auto loan with another company? I’m I eligible for a Loan with another lender?

Absolutely. We can help suggest to you other lender who can consider your situation. Besides, most lenders can refinance the loan at a much lower rate.

9. What are the available options to pay my auto loan?

Using Bill pay- this is for customers who use online banking.

Pay by phone- Mostly, this service is available on a 24/7 basis.

Pay by mail- this involves the use of an account number.

Pay in person- you can visit the lenders financial centers and pay off the auto loan in person.

10. How long does it take after loan payment completion to receive a proof that the loan has been closed?

Mostly, you can expect to receive the lien release, title and pain-in-full letter with ten business days after the completing the payoff process.

11. Are there pre-payment penalties?

No. In fact, mostly you are advised to repay the auto loan in the shortest duration possible.

12. Can I move my payment due date?

Yes. Most lenders are flexible and can move your payment due date by a specified period. However, a certain fee will apply for the service. You will be required to contact the lender customer support for discussions.