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Don't be embarassed to ask us your financing questions. If your answer
isn't here, please call us at (315) 487-2630 and we would be happy to
answer them.
Q) How much income do I have to prove?
A) The minimum for our banks is $800 per month, before taxes are taken
out.
Q) What will my monthly payment be?
A) That will depend on several different factors, such as what vehicle
you want, your down payment, the length of the loan, the interest rate,
etc. We will work with you, so that you have the monthly payment that
best fits your budget.
Q) I've never had credit before, can I get a car loan?
A) Yes! As long as you have a minimum of $800 a month in verifiable
income, you will be approved for a loan.
Q) Do I qualify for Credit Union financing?
A) You must have a minimum credit score of 570 and 3 months on the job
to qualify for Credit Union financing?
Q) Do I have to belong to a Credit Union?
A) The Credit Union has simple rules for joining. You can join at our
office if your loan is approved for Credit Union financing.
Q) What type of income is acceptable to get approved?
A) Printed paystubs showing deductions, Unemployement, Fixed income
such as SSI, SSD, Workers Comp.
Q) What if I'm self-employed?
A) Our banks will approve self employed people as long as you can prove
income with bank statements showing deposits, or canceled checks that
you recieved.
Q) Do I need a down payment?
A) It depends on your credit. Some people do need a down payment. That
is how the bank gets comfortable with loaning you the rest of the money
you need to purchase the vehicle you want.
Q) How much of a down payment will I need?
A) The amount of your downpayment is determined by the bank giving you
the loan. It's different for every customer, and depends on several
factors, such as credit history, length of employement, and the kind
of vehicle you wish to drive.
Q) What if I don't have money for a down payment?
A) There are several ways to cover your down payment. A sellable trade
may qualify. A credit card could provide the down payment. Many people
use their tax return fro a down payment. A Down Payment Assistance program
is available for people who want to split up their down payments and
can wait to get their new car.
Q) Will I need a co-signer?
A) As long as you can prove you make over $800 per month, you will not
need a co-signer. However, in some cases, having one may reduce the
downpayment required by the bank, and the monthly payment may be lower.
Q) Can I trade-in my old car?
A) We do take trades and offer free trade appraisal.
Q) I've had a reposession. Can I still get approved?
A) Yes! Our banks will approve you even if you have had a repossession.
Q) I've had a bankruptcy. Can I still get approved?
A) Yes! Bankruptcy is not a problem for our banks.
Q) If I'm currently in a Chapter 13 (making payments) bankruptcy, can
I still get approved?
A) Yes! There is a form for us to fill out called a "Permission
to incur debt". After it's filled out, you need to get your attorney
to have it signed by the Trustee. In most cases the trustee will sign
it and you will be approved.
Q) Do I have to have a bank account?
A) No. However, if you have one, you can have the payments automatically
withdrawn on a weekly, bi-weekly, or monthly schedule. This can help
you establish good credit easier.
Q) Will financing a vehicle at Pete Kitt's help me establish my credit?
A) Yes! Our finance companies report to the credit bureaus and making
timely payments is a great way to build or improve your credit rating!
Q) Will my vehicle have a warranty?
A) Pete Kitt's offers a warranty on every vehicle we sell. The warranty
is based on the age and mileage of the vehicle when you buy it. Extended
warranties provide added security and are available for most vehicles
we sell.
Please call us today at (315) 487-2630 if you have any other questions.
We are happy to help!
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