10 Hints to Give Your Customers to Help Them Get a Car Loan

1.Know your credit score. - Get a copy of your credit report. Don't act surprised at your credit issues, or deny them.

2. Have an explanation for your credit issues. - Don’t be apologetic. Bad things happen to good people. Be specific about any problems or crisis that caused your problem. Let the bank know about any major upheaval in your life that may have led to your problems such as an illness or a natural disaster, like Katrina, or 9-11.Make sure that you can substantiate your claim

3. Don’t lie about anything on the credit app. - Lenders will turn reject your loan if they find you lied to them

4. Know your income. - Make sure you can prove what you make. Have your proof readily available. Make sure you know your GROSS income, before taxes, that you can prove.

5. Save your down payment. - More down payment means more car. Larger down payments can sometimes get a lender to view your application more favorably

6. Know what your payoff is. - If you are trading in a car with a payoff, get a ten day payoff from the lender. If you have a warranty or additional policies bought with the vehicle, find out if you can cancel them. This will lower your payoff or entitle you to a refund after the vehicle is paid off

7. Buy what you need, not what you want. - Set realistic expectations. Don’t buy more payment than you can truly afford. Rebuild your credit first, than rebuild your image later.

8. Don’t be argumentative. - Nice people get better deals than people who give sales reps a hard time

9. Don’t go from dealer to dealer. - We all deal with pretty much the same lenders, so excessive inquiries can be a reason a lender declines your application

10. Don't believe everything you hear on the news or read in the paper. - Yes, the auto industry is hurting, and some dealers are having a tough time, but that doesn't mean we're going to do anything stupid or illegal to get you a loan, nor does mean we'll take any offer you make, no matter how ridiculous it is.