Don't let credit issues stop you from getting the car of your dreams.
Frequently Asked Questions
Do you have any minimum requirements for getting approved?
Nothing is set in stone, but we prefer people to have a monthly income in excess of $1,200 before tax. Also, we think that payments should not exceed 20% of your monthly pre-tax income - so if your income is $2,000 per month, your payments should not be higher than $400.
I've never had a loan before, and I don't have any credit...
So there's never been a better time to start. We have approval programs designed specifically for first time buyers, so financing a car with Sun Toyota will actually help you to build a healthy credit rating.
Will I have to make a down payment?
Not necessarily! It comes down to a number of factors, including the vehicle you're buying, your own credit situation and the specific terms of financing the vehicle. Make sure to ask us about our zero down payment options, but remember, a higher down payment could lead to lower monthly payments!
Will I always get the lowest rate available?
Interest rates depend on a number of variables, including your credit rating, the amount being financed and the length of the term. However, at Sun Toyota, you can be confident that you will always get the best rate available for YOU!
I've been refused credit in other dealerships. What makes Sun Toyota different?
We know that some people have less than perfect credit. That never stops us from doing our absolute best to get you approved.
I'm self-employed. Will that make a difference?
America was built by entrepreneurs, and we don't think people should be penalized for their ambition! Even if you don't have pay stubs, you can still use your W-2 as proof of income.
My car was repossessed in the past. Does that mean I can't get approved?
We hear this all the time! So many people have suffered repossessions, and they've still been approved for new loans. We know how difficult the last few years have been, and we don't think people should have to suffer in the future for mistakes in the past.
I owe more than my car is currently worth. Do I have to come up with the balance before I can get a loan?
Negative equity is a common hazard of any loan agreement. We can roll the balance into a new loan, often without raising the interest rate - and that could even lead to lower payments on your existing balance.
I've filed for bankruptcy...
And we think you deserve a second chance! Talk to us about how we can help you rebuild your credit rating.
We're on a fixed income. Does that hurt our chances of being approved?
You're on a fixed income? Great - it means that you have a steady income! As long as you're making enough out of your arrangements to meet your monthly obligations, we can definitely help!