Frequently Asked Questions

Will it cost me to apply for a car loan?

There is no cost involved in filling out an application for financing at NAFCO. You are under no obligation to purchase a vehicle if we offer you financing.

How long does the application process take?

When we receive your application we will contact you so we can discuss your needs and go over the application. We want to offer the best possible car financing based on your situation. The approval process usually takes anywhere from just minutes to a few hours.

What interest rates should I expect to get?

Rate of interest depends on various criteria such as your income, credit history, car type, loan amount, period of loan payment and many other factors. Our team of experienced auto finance specialist will assist you in getting you the best possible interest rate, even for people with a "not-so-perfect" credit rating.

How secured is my personal information?

We take every precaution to protect our user's information. When users submit sensitive information via the website, your information is protected. This site uses special software to offer secure communications by encrypting data submitted on the application. Your data is available only to our authorized associates for the purpose of evaluating your application.

Can I apply for a car loan when I have bad credit, no credit or bankruptcy?

Yes. You can apply for vehicle financing with no obligation or cost. NAFCO financing is designed for the "not-so-perfect" credit customer but we have programs to fit all customer credit profiles. Most people will qualify for acceptance if they have an income source that can be used to pay the loan and meet other acceptance criteria. But you must apply to be accepted.

What types of vehicles are available?

We offer a wide selection of vehicles to choose from - sedans, wagons, SUV's, trucks, and vans. The specific vehicles available at any time change as our dealer affiliates' inventory changes. You will be offered a selection of vehicles to choose from that you are qualified to purchase. One will be just right for you!

What do you consider when looking at an application to get a car loan?

We look at the applicant's ability to pay back the car loan. A stable source of income is necessary. We also look at how long an applicant has lived in the area, the household budget, other automobiles owned. We are more concerned with your future than your past. We know that bad things can happen to good people.

Are there any penalties for prepaying my loan?

No, you may pay off either a portion of your loan or the entire amount at any time without incurring any penalties. Any payment you make above your regular monthly payment is usually applied to the principal balance of the loan.

Do you offer a refinancing option?

Yes we do offer a refinancing option after the buyer has demonstrated a satisfactory repayment history on their car loan. After a loan has reached the half way point, we will contact the customer and discuss their options with them. NAFCO offers a frequent buyer trade up program that helps our customers move to their next vehicle sooner.

Can someone get financing to buy a car from a private party?

NAFCO does not offer financing of private party purchases. All NAFCO "Drivers Club" vehicles must meet specific condition requirements to qualify for our program. Most private party vehicles do not qualify for financing by NAFCO.

What should I do after submitting the application?

When you submit your application to NAFCO you will be contacted by one of our loan specialist to set an appointment to review your application. We will ask you to bring some documents with you to the appointment to help us make the best credit decision possible. At the appointment, after our interview, we will provide you with an offer based on your application. And after that you can pick out your vehicle.

How soon can I know whether my application is approved?

We will provide you with an offer, based on your application, after we have had a face to face interview. We feel that meeting with our customers and discussing their specific transportation needs and desires allows us to make the best credit decision for the customer. During the interview you will have a chance to ask us about the finance offer and view the vehicles available to you. During the interview we will explain the Drivers Club program with you.

How much down payment will I need?

Our down payment requirements are designed to fit the budget of our customers. The specific down payment requirement you will have depends upon many factors. We want to find a way to make the purchase of a NAFCO financed vehicle simple, fun, and easy. That is why we don't have one size fits all requirements. Each customer is unique and has specific requirements. Talk to us, let's see what can be done.

Can I trade in my current vehicle?

Yes, we will consider your trade in, even if you have an existing loan on it. Depending on how much you owe on the trade this may affect the amount of your payments on your next vehicle. So keep that in mind. You may want to pay off your current vehicle before trading it in to help keep your payments lower.

What is the "Drivers Club" I hear about?

When you purchase a qualifying vehicle from a NAFCO affiliate dealer you automatically qualify for a no cost NAFCO "Drivers Club" membership. The Club provides members with benefits saving them hundreds of dollars. See an associate at a NAFCO affiliated dealership or contact us at NAFCO to get the details about all the benefits. It really is a great program designed with you in mind. Drivers Club is offered only by NAFCO.

If I visit the dealership what should I bring with me?

If you have your paperwork ready it will help things move along a lot faster. If you visit a NAFCO affiliated dealership and would like to apply for an auto loan, you should bring the following items with you to speed the application process:

  • Valid Driver’s License

  • Proof of income (such as two recent pay stubs, social security documentation, or pension documentation)

  • Proof of insurance (liability)

  • Proof of residence (a recent utility bill, lease agreement, or mortgage papers)

  • References: Name, address, email and phone numbers for at least 5 references

What do I do if I have questions about my loan?

Contact us either by phone or email, go to the Contact Us tab for more info.

How do I get the Title to my vehicle?

Once you have paid your auto loan off in full we will send you your title within 10-business days.

What is my payoff?

Contact us to see exactly what your payoff is on your auto loan, your most recent transaction balance is not your payoff, is may be very close but is not exactly your payoff.

Does my loan have Gap Insurance?

Contact us to inquire if your loan has Gap insurance, this is a specific detail that is unique to every loan.

How do I submit an application?

Click on Submit an application on the Welcome page, walk through the steps it prompts you to.

Can I Make payments online?

Yes, you can make payments anytime online. We accept eChecks, and Debit Card payments 24/7