If you do not find your question listed, below don’t hesitate to contact us.

We happily respond to every inquiry.

How much can I get pre-approved for?

The loan amount that you will get pre-approved for is based on a number of factors. They are based on income, and age of the vehicle and the overall risk assessed by the lender. All documents must be turned in before a true number can be given.

Will my trade qualify for money down?
Yes! Additional money, however, may be required if there is a lien on the automobile that you are trading.

Will inquiries affect my credit rating?
If you're shopping around for an auto loan or more credit, you should know that when creditors check your credit, it places an inquiry on your credit report. Inquiries can add up, which is often interpreted negatively by creditors. For this reason, too many inquiries can actually make getting an auto loan more difficult.

Will Cosigners help?
A Cosigner may be considered for a Buyer who does not comply with all the credit requirements. The income of the Buyer, however, must meet all the income and budget guidelines without reliance upon the income of the cosigner.

What are the monthly payments?
Monthly payments are based on your credit profile and the vehicle you are purchasing. Newer, lower mileage cars qualify for extended terms. The best payments are on less expensive cars that have less than 50,000 miles.

What are the interest rates?
Rates are based on your credit history and the equity position of the loan. We will negotiate the best situation we can based on your credit profile. The higher your credit rating and down payment the lower your rates will be. Also, the model year of the vehicle plays an important role. Rates generally increase 1 point per model year. So, the older the car, the higher the rate.

I've had a vehicle re-possessed less than a year ago. Can I still pre-qualify?
If the repossession was not included in a bankruptcy and there is still a balance on the account, you can still pre-qualify. Greater money down requirements will apply and vehicle selection will be limited to newer cars that are still under factory warranty.

I've had a bankruptcy. Can I still get pre-approved?
As long as the bankruptcy is discharged, yes you can. We can help you re-establish once your Bankruptcy is complete and you have received your discharge letter. Or if you have a Bankruptcy in the past and would like to start re-establishing give us a call. Remember, a Bankruptcy may remain on your credit for up to 10 years, the best way to move past this is to re-establish with new credit... and a vehicle loan is one of your best opportunities here.

I've never had credit before. Can I get approved for an auto loan?
Southern States Automotive Group often has several First Time Buyer Programs that are available with our lenders and manufacturers. These programs will help you not only qualify but also, occasionally, reduce the cost of the vehicle I've been turned down before. How can Southern States get me approved? With the relationships we have built with our lenders for selling quality vehicles and the years of experience helping people with a problem get back on track. Our process ensures that each application has the best possibility of approval prior to submission.

Should I find a car first before applying for an auto loan?
We recommend that you consult with one of our Sales Associates first. They can determine how much you qualify for before you start shopping. This method will increase your chances of approval and decrease the number of inquiries on your credit report. Inquires usually have a negative effect on your credit rating.

For Example:
You decide to buy a new $40,000 Nissan Armada at a dealership without being approved. The dealer may keep submitting your application until it is approved or the dealer has exhausted all their lender resources. We are not going to wish you in to a car loan but prepare a reasonable loan package so you are approved. We need to determine if you qualify for the Armada. If so, your loan package will be submitted. If you don't qualify, we’ll guide you to the best vehicles and financing options that fit your needs, without numerous inquiries showing up on your credit report. Most dealers are trying to sell you the vehicle you want but not doing the due diligence to make sure you can afford the vehicle.

What are the minimums to qualify?
There are no minimum qualifications to pre-qualify! Each auto loan application is evaluated based on the credit profile and equity position. An applicant with previous good auto credit, for example, may not have to meet income and job time requirements; whereas an applicant with a recent repossession would.

What type of car can I get pre-approved for?
Lenders prefer newer vehicles still under warranty so you won't have to worry about unexpected repairs.