The Advantage Finance Program for Autos:
Payments with Auto Advantage may be up to 40% lower than those with regular financing. According to Finance, benefits similar to leasing but without the restrictions apply to vehicles manufactured in 2019 and subsequent model years.
Auto Advantage Finance: Program for Automobiles:
- No down payment is necessary.
- The title of the car is in your name.
- Various mileage options
- Unexpected “Back End” Events and Options for Local Returns.
- It’s easy to decide to keep your car.
- No security deposit is required.
- No penalty for an early payoff.
The Program’s Operation:
Vehicles That Qualify
Year to come, a year has already gone by, and pre-owned cars are up to five years old.
Financial Conditions
between 24 and 72 months
Both Guaranteed Future Value (GFV) and Residual Value:
We refer to this residual as the “Guaranteed Future Value” because our program ensures it. You can turn in your car if its value at loan maturity is less than what you owe on it.
Cash:
The primary part of your payment is calculated using the difference between what you paid for the vehicle and its residual value. This results in a smaller monthly payment than you would pay with traditional financing.
Throughout your loan:
Auto Advantage Finance: Program For Autos:
Pay down the loan in full, including the residual value, after selling the car, and keep the difference.
Use the car as a trade-in, and pay off the loan in full, including the residual value, all at once.
Refinance the remaining loan amount (including residual value) as a used car loan and keep the car.
When the loan matures
Return the car without having to pay the remaining balance.
The essential information regarding Advantage Auto Loans:
Advantage AutAuto Advantage Finance:
Program For Autoso Loans aimed to streamline the application process for auto loans, particularly for those with less-than-ideal credit histories. To match you with finance that might meet your needs, the organization collaborates with a nationwide network of lending partners.
Here are some things to consider if you’re thinking about financing your automobile purchase or lease via Advantage Auto Loans:
1. There are loans available with no down payment:
No down payment vehicle loans are available from a few of Advantage Vehicle’s partner lenders. Not all applicants will be eligible, but if you don’t have the money on hand for a down payment on a car. This may seem like a huge benefit. If so, you should carefully review the fine print as you can end up paying more in interest throughout the loan than the car’s actual value.
2. Monthly pre-tax income greater than $1,499 is preferred:
Although most credit profiles are taken into account by Advantage Auto Loans, the lending platform indicates that applicants with a monthly pre-tax income of $1,499 or more are preferred. If your income is lower, you can have a harder time getting accepted.
3. Absence of a prequalification procedure:
Some lenders will allow you to apply for loan prequalification before you formally apply so you can get an idea of whether you could ultimately be approved. Although it’s not a guarantee of approval, prequalification can also give you an idea of the terms and interest rate you could get if you’re approved and compare them to other prequalification offers. But Advantage Auto Loans doesn’t offer a prequalification option. You will need to submit a complete loan application, which will result in a hard credit investigation if you want any information regarding the terms.
Examining Advantage Auto Loans in More Detail:
Auto Advantage Finance: Program For Autos
Here is some additional Advantage Auto Loans information to think over.
Advantage Auto Loans takes into account the vast majority of credit profiles. Even those seeking a car loan after bankruptcy or repossession.
You can still apply for an auto loan if you work for yourself or as an independent contractor as long as you can show proof of income.
Advantage Auto will still examine your loan application if you are a first-time car buyer who has never owned, leased, or acquired auto financing previously.
Auto Advantage Finance: Program for Automobiles:
Lenders on the platform submit information to the three major consumer credit bureaus, which can help you improve credit if you handle your loan properly and make on-time payments.
Advantage Auto may be able to connect you with a lender who accepts trade-ins if you want to trade in your current vehicle but still owe money on it. It may also be able to assist you even if you haven’t paid off your current loan — but keep in mind that this could put you in debt on your new auto loan.
Can you qualify for an Advantage Auto loan?
If you have a difficult or restricted credit history, or if you have experienced bankruptcy or repossession, you might want to think about applying for an Advantage Auto loan. Since the organization partners with many lenders and dealers, it may be able to match you with a partner who will offer you vehicle financing, though maybe not with the greatest conditions.
Advantage Auto may be a good fit for you if your credit is relatively good because some of the lenders it partners with provide competitive interest rates.
Either way, without a prequalification option you’ll be at some disadvantage because you can’t get an indication of whether you could be approved without formally applying and submitting to a hard credit check. And it could badly affect your credit ratings while you’re still loan browsing.
How to submit an Advantage Auto Loans loan application:
You must utilize Advantage Vehicle Loans’ online application to apply for a vehicle loan. Before applying, you will not be able to prequalify to view possible rates.
It’s wise to verify your credit and compare loan offers before applying for an Advantage auto loan. Generally speaking, poorer credit scores translate into higher interest rates. Additionally, you can obtain the finest rates and terms for your needs by comparing and shopping around for loan offers. For more guidance, see our article on how to obtain a car loan.
