Frequently Asked Questions about Auto Loans Instantly

Here are the answers to the most commonly asked questions about auto loans instantly.

Is it possible to get refinancing auto loans instantly?

Yes, many of our lenders offer auto refinancing loans. Auto refinancing involves taking out a new loan in order to pay off a past obligation. Typically, borrowers decide to refinance when interest rates have dropped significantly from when they took out their original car loan.

Do you issue auto loans instantly on this site?

Because we are a referral service and not a lender, we do not issue auto loans on this site. Our job is to find you a lender who can get you a car loan quickly, but we do not provide the loans ourselves. We work with hundreds of lenders who handle that process for our visitors.

How many quotes will I receive if I sign up?

We will give you a minimum of four free quotes on auto loans instantly. In some cases, you may receive up to five quotes at no cost. All of your quotes will come from certified, respected lenders who specialize in rapid auto loans.

Should I buy a car if I don't have a 20% down payment?

If your need for a new vehicle is not urgent, you may want to wait a while until you have as close to a 20% down payment as possible. A 20% down payment protects you from the instant depreciation that occurs once you drive your new car off the lot. Without a substantial down payment, you will instantly owe more on the car than it's worth when you drive away. Although we can help you find lenders who will work with borrowers with little or no down payment, it's best to save as much as you can for your own financial protection.

How do the interest rates of used-auto loans compare to those of new-auto loans?

Every lender that offers auto loans instantly will have different rates. Generally speaking, however, used-car loans tend to have higher interest rates than loans for new cars. If you want the absolute lowest rate possible, you should go with a new-car loan.

Will the dealership accept third-party financing?

Third-party financing is what our lenders offer. Third-party auto loans are loans obtained outside of the car dealership. Our lenders' third-party loans will function just like cash at the dealership. Either your lender will wire funds to your checking or savings account or they will give you a special check to write to the car dealer. If the dealership accepts cash, they will accept third-party auto loans.

Am I eligible for auto loans instantly if I have credit challenges?

Credit challenges will make it more difficult to obtain reasonable auto loans instantly. If your credit is still fairly decent, you may qualify for a loan, but it will have a relatively high interest rate. On the other hand, if your credit is seriously damaged, you may not qualify for auto financing at all. If you need help with some of the words above, please study our auto loans glossary.