Frequently Asked Questions
What are the key elements of an auto loan?
- Cost of the car.
- Interest rate.
- Length of the car loan.
- Credit score.
- Down payment.
- New vs. used cars.
What will I need for a car loan?
What types of vehicles can I finance with Approved Auto SC?
How can I estimate my monthly loan payments?
Is there an application fee?
What are the minimum and maximum loan amounts?
Do I have to be a U.S. citizen to apply for a vehicle loan?
- Reside in the United States
- At least 18 years old
- A U.S. citizen, resident alien, or non-resident alien
Can I be approved before I choose my car?
- Date of birth
- Social Security number or tax ID number
- Employment information
- Collateral type
- Collateral year
What are the vehicle loan eligibility requirements and conditions?
What types of vehicles are not eligible for a loan from Approved Auto SC
- Golf carts
- Lawn mowers
- Tractor trailers
- Utility trailers
- Sports bikes including R and RR suffixes
- Fisker automobiles
- Offshore or drag racing boats
- Salvaged vehicles
- Rebuilt and reconstructed vehicles
- Custom-built vehicles
- Grey market vehicles
How long will it take to receive a loan decision?
How long is a loan application valid?
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