Frequently asked questions

Is there any cost(s) associated with the car loan application?
There is neither any cost nor any obligation associated with the car loan application with us.

What happens after submission of the application?
The application is processed and a contact will be made by some authorized agent upon approval usually within 24 hours.

To what extent is the information provided by the applicant secure?
By clicking on the ‘submit’ button after entering the required information about personal details etc. all the submitted information becomes encrypted for transmission. Then this information gets stored with industry-leading security on our servers and the application pages in your browser will display the secure icon. This guarantees that the information that you enter into these pages will be securely transmitted. Moreover, we at safeautocredit.com maintain a strict Privacy Policy.

Will it be helpful if there is a cosigner?
The presence of a cosigner does improve the chances of approval of the loan if you have a poor credit score.

What are the kinds of vehicles for which an auto loan can be applied for?
Auto loans can be applied for new as well as used vehicles- cars, sports utility vehicles, vans etc.

What are the minimum qualifications for applying for auto loans?
No particular minimum qualifications are there for applying for auto loans. However, some basic criteria are often suggested: the applicant need be at least 18 years old, for direct auto loans the applicant’s monthly income from one source of employment and from other sources of monthly income should be at least $1500 (in case of indirect financing as obtained through an auto dealer the monthly income may, however, be considerably lower), the applicant must have a good residence and employment history (verifying at least a 1 year stay at same location). There is relaxation in the minimum qualifications criteria set in case of good credit holding. Holders of a bona fide credit report may not need to meet all income and job requirements.

Is it necessary to choose an automobile first before applying for the loan?
No, there is no need to choose an automobile prior to applying for the loan. Upon receipt of the auto loan approval there will also be provided a voucher for the maximum amount of dollars to spend. This is estimated based on the current debt to income ratio and current credit standing of the applicant. The voucher needs to be completed by filling in the amount for the cost of the automobile which should not exceed the maximum amount specified.