FINANCING CRITERIA
Financing Classic Mustangs or Late Model Mustangs is a painless process. Potential customers often ask us what lenders really look at when considering a potential financing applicant. Here's what we are told:
- Good credit history -- no "slow pay" or defaults.
- Stable job history.
- Debt to income level below 50%.
- Co-applicant credit history; if a co-applicant is used.
- Amount of or percent down payment.
- Value of vehicle being purchased versus loan amount.
- Generally speaking, a strong credit history and a debt to income level below 50% will eliminate virtually all obstacles when applying for a car loan. More and more lenders tell us, "We finance the people."
Protect your credit record. It is a valuable asset. A strong credit report will eliminate disappointment when that special Mustang comes along!
FINANCING OPTIONS
There are many fine lending institutions available to today's Mustang purchaser. Important criteria when selecting a lender are:
- Easy to work with -- easy application form.
- Quick loan approvals.
- Competitive rates.
- Flexibility in loan duration -- 36 to 96 months.
- Understanding of the Mustang market and car values.
The lenders we have used or our customers have used most often are as follows:
| CAPITAL ONE AUTO FINANCE |
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| GENERAL: |
Capital One Auto Finance is a California-based company that more than meets the criteria we outlined. They finance nationally; except residents of New Hampshire and North Dakota.
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| HOW TO APPLY: |
You must apply directly with Capital One Auto Finance. You may do this via online at www.capitaloneautofinance.com or via telephone at 1-800-689-1789.
Note: On-line application and agreement to automatic checking account deduction will result in the lowest interest rate available.
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| FUNDING: |
Once approved Capital One will forward a bank draft to you good up to the amount you have been approved for. This draft, which functions just like a check, can be written to any approved new car dealer or any used car dealer. K.A.R. Auto Group is an approved Capital One Auto Finance dealer.
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| RATES: |
PeopleFirst publishes their rates on their web site for easy access. Phone applicants can ask for current rates.
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| J.J. BEST & CO. |
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| GENERAL: |
J.J. Best & Co. enjoys an excellent reputation among antique, classic, and sports car enthusiasts. They meet all of the criteria we established.
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| HOW TO APPLY: |
Via telephone -- 800-USA-1965
Via Internet -- www.jjbest.com
Via mail -- Call J.J. Best or K.A.R. Auto Group for an application form. Completed applications must be mailed directly to J.J. Best & Co.
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