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Get pre-approved in minutes. We work with all types of credit.
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Finance Application with D.E.L. Motors
Once you find a quality used vehicle at D.E.L. Motors, you have to decide how to pay for it. With an older model, you may be able to pay cash. Most of the time, you will need a loan to get into that practical and stylish pre-owned car, truck, or SUV. D.E.L. Motors has our own in-house team of finance experts to help you get the financing you need.
Get Pre-Approved First
To make buying a vehicle even easier, you can get preapproved. We'll look over the information and verify everything. Then, we'll contact you and let you know how much you have been approved for.
We base your approval on your employment history and income as well as your credit rating. We also look at your debt-to-income ratio, which is the amount of your bills compared to the amount you earn.
Loans for All Types of Credit
When you work with D.E.L. Motors financing, you have a team of experts who are on your side. We understand that sometimes the unexpected in life happens. We can help you get approved for a subprime loan if your credit is less than ideal.
We work with people who have had major issues in the past, including:
- Delinquent accounts
- Collections and charge-offs
- Repossessions
- Bankruptcy
- Foreclosure
We can help you begin to rebuild your credit with our car loans.
Use Your Vehicle as a Trade-In
If you have a current vehicle, even if it's not in great shape, you can use it as a trade-in. Having a trade-in can help you get approved. It also lowers the amount you owe, which can mean lower monthly payments.
Rely on D.E.L. Motors for Financing
We want to make it easy for you to get into a newer vehicle. Our in-house financing allows you to come here to get a loan and find a vehicle. No more waiting for multiple applications to be reviewed at various lenders. Trust D.E.L. Motors to help you get behind the wheel of a vehicle with a loan that fits your budget and circumstances.
Frequently Asked Questions About Financing
What should I include in my income for an auto loan?
Use your verifiable income that is consistently coming in each month. Know that you could be asked to provide proof of your income with paystubs, tax returns, bank statements, W-2s, social security statements, disability payment statements, or documentation for investment returns or earnings.
What does my credit score tell lenders about me?
A credit score is a number believed to represent your creditworthiness based on your past actions. It tells a bank or lender how likely you are to pay your bill on time. The evaluation that determines your credit score is a combination of your payment history, debt management, the utilization of your available credit, and the ratio between your debt and your income.
What is considered a high debt-to-income ratio?
Your monthly debt obligations will typically include things like your Clay Center mortgage or Junction City rent, car loans, student loans, credit card bills, and other payments that are more long-term. When the total of these items reaches more than 43% of your income on a monthly basis, you have a high debt-to-income ratio. When that ratio reaches more than 50%, you will be considered a high-risk borrower.
Do personal loans impact my credit score?
If you apply for a personal loan, the lender will run what is called a hard credit check that accesses your credit report. These inquiries can impact your credit score by as much as 10 points. But that decline will only last for a short time.