Bad Credit Frequently Asked Questions

If you do not find your question listed below 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. We use LotPro technology to determine the exact amount. You may, however, get a general idea of the amount by first determining your Credit Profile and then using our auto loan estimator.

Click Here to Start the Pre Approved Auto Loan Process
When I qualify, how much down payment 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.

Click Here to Use the Auto Loan Estimator
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.

Click Here to Apply and Use Your Trade as Money Down
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.

Click Here to Pre Qualify for an Auto Loan
Can I use an auto manufacturer's employee discount (A-Plan, GMS)?

Yes! Let your Auto Credit Express Auto Loan Specialist know that you qualify for the discount and it will be applied toward your new car purchase.

Click Here to Start the Employee Discount Auto Loan Process
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.

Click Here to get a Pre Approved Auto Loan without a 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 under 50,000 miles. If you have an idea of the amount you want to finance and the interest rate you will qualify for use our Auto Loan Payment Calculator to estimate your payments.

Click Here to get an Auto Loans with Low Monthly Payments
What are the interest rates?

A very good question for which there is not a direct answer. Rates are based on your credit profile and the equity position of the loan. Auto Credit Express is full spectrum. We will get you the best rate 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. The older the car, the higher the rate.

Click Here to get an Auto Loan Interest Rate Quote

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.

Click Here to Get Pre-Approved for an Auto Loan with Previous Repossession
I've had a bankruptcy. Can I still get pre-approved?

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

Click Here to Start the Pre Approved Bankruptcy Auto Loan Process
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.

Click Here to Start the Chapter 13 Auto Loan Process
I've never had credit before. Can I get approved for an auto loan?

Auto Credit Express has several First Time Buyer Programs.

Click Here to Start the First Time Buyer Auto Loan Process

Can I use Auto Credit Express to finance a vehicle through a private owner?

No. Auto loans through Auto Credit Express can only be used to purchase automobiles from dealerships with an Auto Loan Center onsite. Each dealer selected by Auto Credit Express has passed a rigorous screening for quality and customer service and each uses our proprietary LotPro software. This process ensures that each customer will purchase a dependable vehicle. When a vehicle is purchased from a private owner we have no way of determining the quality and dependability of the car.

Click Here to Start the Pre Approved Non-Private Party Auto Loan Process
I've been turned down before. How can Auto Credit Express get me approved?

At Auto Credit Express 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.

Click Here to Start the Second Change Auto Loan Process
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.

For Example: You decide to buy a new $40,000 Cadillac at a dealership without an Auto Credit Express Auto Loan Center. The dealer may keep submitting your application until it is approved or the dealer has exhausted all their lender resources. Your Auto Credit Express Auto Loan Specialist, on the other hand, will first determine if you qualify for the Cadillac. If so, your loan package will be submitted. If you don't qualify you'll find out without numerous inquires showing up on your credit report.

Click Here to Start the Pre Qualification Auto Loan Process
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.

Click Here to Start the Pre Approved Auto Loan Process
What type of car can I get pre approved for?

The typical auto loan from Auto Credit Express 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.

Click Here to Find Out How Much Can I Get Approved For?

Apply by Phone by calling: (855) 439-0814
Apply Online in just 3 minutes: Apply Now
Auto Credit Express and the ACE logo are registered trademarks. The contents of all material available on this web site are copyrighted unless otherwise indicated. Content may not be reproduced, downloaded, disseminated, or transferred, in any form or by any means, except with the prior written agreement of the ACE Group. 3271 Five Points Drive, Suite 200 - Auburn Hills, MI 48326. By using this site, you agree to be bound by our Terms Use, Privacy Policy, Supplemental Terms, and Cookie Policy.