Apply for Credit

Get Pre-Approved First

To make buying a vehicle even easier, you can get preapproved. You can fill out our online application and submit it to our finance team for review. 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. You can get started from home with our online application form or give us a call. We'll be happy to answer any questions you have and help you find the right vehicle.

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. You may lose a job, get sick, or take a pay cut and get behind on your bills. Now that you have recovered from that situation, you're ready to take on a car loan. Unfortunately, your credit doesn't always bounce back as quickly, and you may be turned down by numerous lenders. At D.E.L. Motors, we have loan products for various situations. We can help you get approved for a subprime loan if your credit is less than ideal. The interest rate will be higher to offset the risk, but your payments can still be affordable. We work with people who have had major issues in the past, including: We can help you begin to rebuild your credit with our car loans.

• Delinquent accounts
• Collections and charge-offs
• Repossessions
• Bankruptcy
• Foreclosure

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. If you have other money for a down payment, it will help with approval. Bring in your vehicle and our service technicians will look at it and let you know how much it is worth as a trade-in. We can help you get into a used car, truck, or SUV that you can afford.

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 Quesitons About Applying for Financing

What should I include in my income for an auto loan? When you are asked to provide your monthly income on the application 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. It is also essential you understand that alimony or child support can be listed as income in some cases. Please reach out to the staff at D.E.L. Motors before completing your finance application if you have any questions about what your monthly income should be. 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 lower the credit score, the more significant the risk it is to lend you money in hopes of seeing it repaid. 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 issues could cause be to be denied credit or a loan to purchase a car at D.E.L. Motors? There are many issues that could be seen as red flags to lenders, causing them to deny your loan application. The most common is that your income is not able to support the loan request you are making. Sometimes, the denial will state that your debt-to-income ratio is too high. In more specific cases, if you have other loans with the lender, you could have reached the internal credit limit for that lender. Finally, the average length of time that your accounts have been open is insufficient to show creditworthiness for that lender. 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. Repeated hard credit checks appear on the report and can be seen as negative, even if no new loans are funded. What should I consider when setting my budget for my new car? As you think about the items in your monthly debt and your income, be sure also to be honest about other expenses that will take a bite out of the disposable income you will dedicate to your new vehicle loan payment. Think about the possible increase in your car insurance, the maintenance for your new car, the money you spend on entertainment and dining out, as well as other expenses you might save for throughout the year, such as a vacation budget. Keeping all of these items in mind as you determine the budget for your new car will ensure you work within a reasonable amount for the new vehicle without overstretching your monthly income.