Frequently Asked Questions

How much money will I need?

The down payment money amount that you will need is based on a number of factors. You may, however, get a general idea of the amount by first determining your Credit Profile and then using our Money Down Estimator.

Can I use my trade as money down?

Yes! Additional money, however, may be required if there is a lien on the automobile that you are trading.

Will Cosigners help me get pre-approved?

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.

I've had a repossession 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 get pre-approved?

As long as the bankruptcy is discharged, or you have an Authorization to Incur Debt from the bankruptcy trustee Ourisman Credit Center can help.

I'm currently in a Chapter 13 Bankruptcy. Can I pre qualify?

Yes. However, it may take longer to process your loan. You have to obtain an "Authorization to Incur Debt" from the trustee of your bankruptcy. This normally takes two to three weeks. Consult your bankruptcy attorney.

I've been turned down before. How can Ourisman Credit Center Help?

At Ourisman Credit Center we use state of the art technology that evaluates your credit profile, available inventory, income, as well as debt factors. 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 auto loan specialists 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 inquires on your credit report. Inquires may have a negative effect on your credit rating.

What are the minimum qualifications to get pre-approved?

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?

The typical auto loan from Ourisman Credit Center is for a new, one year, or two year old car with less than 50,000 miles. Nearly every vehicle financed through Auto Credit Express is eligible for Extended Factory Protection so you won't have to worry about unexpected repairs.

Testimonials

I got turned down by multiple dealers. Now I'm driving a brand new car! Can't thank you enough. -

Eric, Alexandia, VA