Frequently Asked Questions

Car Capital connects you with a network of trusted dealers and lenders who specialize in subprime auto financing. We use a secure pre-qualification process to match you with financing options based on your complete financial picture, not just your credit score. Once pre-qualified, we'll connect you with dealer partners who can help finalize your financing and get you into a quality vehicle.

Car Capital is not a direct lender; instead, we connect you with a network of trusted dealers and lenders who specialize in subprime auto financing. Our process uses Plaid for secure identification and initial credit profiling, ensuring that exploring your financing options is safe and secure. We focus on your complete financial picture and work to provide personalized solutions—even if your credit score is in the 500s—making vehicle ownership more accessible and tailored to your needs.

Car Capital uses Plaid, a secure financial technology service, to verify your identity and financial information. Plaid acts as a secure connection between your bank account and our application, allowing us to verify your information quickly and safely without storing your banking credentials. This technology helps us speed up the verification process while maintaining the highest security standards for your sensitive financial data. When you connect your accounts through Plaid, you're always in control of what information is shared, and your banking credentials are never stored or accessible by Car Capital.

Our pre-qualification process is designed to be quick—often delivering an initial response within minutes. The full approval process, which requires additional documentation verification, can take a few days. Pre-qualification offers are typically valid for 30 days, giving you time to shop for your vehicle.

Yes! We specialize in helping customers with credit challenges get car financing. Our network of dealer and lender partners works with a wide range of credit situations, including scores in the 500s. Instead of focusing solely on your credit score, we consider your overall financial situation, including income, employment stability, and down payment amount.

We work with a network of dealers and lenders who can help consumers with a wide range of credit scores—even those in the 500s. While we don't set a strict minimum score, our partners specialize in subprime auto financing and consider your overall financial profile, not just your credit number.

We work with dealers and lenders who consider applicants with various credit challenges, including those who have experienced bankruptcy or repossession. However, it's generally recommended to wait 12-24 months after such an event, if possible, to improve your chances and secure better terms.

Yes. Car Capital partners with lenders who understand that a lack of credit history is different from bad credit. We can help guide first-time buyers by recommending strategies like using secured credit cards or credit-builder loans to establish a credit record as part of your overall financing package.

Yes. Most of our partner lenders report your payment history to the major credit bureaus. This helps you build or rebuild your credit over time as long as you make your payments on time. Reporting practices can vary, so be sure to ask your dealer partner for specific details.

Interest rates depend on your complete financial profile and the specific offerings of our partner lenders. Generally, consumers with lower credit scores may see higher rates than prime borrowers. We don't set the rates ourselves, but our goal is to help you access the most competitive offers available given your circumstances.

For subprime financing, a down payment in the range of 10-20% of the vehicle's price is typically recommended. A larger down payment can help offset credit challenges and may improve the terms you're offered by our dealer and lender partners.

While not always required, including a co-signer with a stronger credit profile can improve your chances of securing more favorable terms. A co-signer provides additional assurance to our partner lenders, potentially leading to better interest rates and loan terms.

Yes. You'll need to demonstrate sufficient income to cover your auto loan payments. Typically, your monthly car payment should be no more than 10-15% of your income. During the application process, you'll be asked to provide proof of income—such as pay stubs, W-2s, or tax returns—to support your financing request.

Our partner lenders typically have guidelines regarding the age and mileage of financed vehicles. While many quality used cars are available, some restrictions may apply to very old vehicles or those with extremely high mileage. We work with a network of dealers to help you find reliable options that meet lender criteria.

Yes. Many consumers finance a new car while still owing on their current vehicle. Car Capital helps you explore trade-in options and manage any remaining balance on your existing loan as part of your overall financing package. It's best to negotiate the trade-in value separately from your financing terms to secure the best deal.

We work with lenders who consider self-employed applicants by evaluating tax returns and other financial documents. While we don't offer specific "self-employed programs," having a consistent income history and proper documentation can help you qualify for financing.

While Car Capital doesn't offer refinancing directly, once you've established a good payment history with your current loan, you're free to shop around for better rates and refinance through another lender. Our role is to help you secure financing today; future refinancing is a decision you can explore independently.