Here at Military AutoSource Lakenheath Commissary we are focused on ensuring your experience with us exceeds your highest expectations. We work with some of the best military financial institutions to ensure our customers get the right finance packages at the most competitive rates.
We strive to work with each customer to ensure their satisfaction. We have assisted customers with great credit get better deals and we’ve helped customers with poor credit get back on track with our financing assistance program.
How much can i get approved for?
The loan amount that you will get pre-approved for is based on a number of factors. They are based on income, prior credit history and the overall risk assessed by the lender. All documents must be turned in before a true number can be given.
Here at Military AutoSource Lakenheath Commissary we can help you get pre-approved from a number of military lending sources with truly independent advice as none of our sales team earn commission for recommending or using any one lending source.
Will my trade in qualify as money down?
Yes! any positive equity from your trade in can be used as down payment or returned directly to you, you get to decide how the money is used.
Have you asked Chris & Ethan about their trade assist program?
Will Inquiries affect my credit rating?
If you’re shopping around for an auto loan, you should know that when creditors check your credit, it places an inquiry on your credit report.
Let us handle your application process so you can control who see’s your application, we have one simple form that ALL major military lenders accept, however before your application is sent anywhere we can select which banks to use, so we can compare offers from one or more lenders quickly and efficiently without having a negative impact on your credit profile.
Will Cosigners help?
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.
If you need more advice on using a cosigner and what this means for your loan application, please ask Chris & Ethan for an appointment so we can assist you.
What are the monthly payments?
Monthly payments are based on your credit profile and the vehicle you are purchasing. New cars qualify for extended terms and lower interest rates.
What are the interest rates?
Rates are based on your credit history and the equity position of the loan. We will help you get the best package we can 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. So, the older the car, the higher the rate.
Our new and certified pre-owned cars can be financed through all major military lenders, so you will have the added protection of your military benefits that includes lower interest rates, even with poor or bad credit.
I've had a bankruptcy. Can I still get pre-approved?
As long as the bankruptcy is discharged, yes you can. We can help you re-establish once your Bankruptcy is complete and you have received your discharge letter.
Or if you have a Bankruptcy in the past and would like to start re-establishing give us a call. Remember, a Bankruptcy may remain on your credit for up to 10 years, the best way to move past this is to re-establish with new credit… and a vehicle loan is one of your best opportunities here.
I've never had credit before. Can I get approved for an auto loan?
Military AutoSource Lakenheath Commissary has several First Time Buyer Programs that are available from our military lenders. These programs will help you not only qualify but also reduce the cost of the vehicle as they have special interest rates and down payment packages all designed to help you.
I've been turned down before. How can MAS get me approved?
With the relationships we have built with our military lenders and the years of experience helping people with a problem get back on track.
Our process ensures that each application has the best possibility of approval prior to submission.
Should I find a car first before applying for an auto loan?
We recommend that you consult with Chris or Ethan 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 inquiries on your credit report.
You decide to buy a new $40,000 vehicle at a dealership without being approved. The dealer may keep submitting your application until it is approved or the dealer has exhausted all their lender resources.
We are not going to wish you in to a car loan but prepare a reasonable loan package so you are approved. We need to determine if you qualify for the amount. If so, your loan package will be submitted. If you don’t qualify, we’ll guide you to the best vehicles and financing options that fit your needs, without numerous inquiries showing up on your credit report.
Most dealers are trying to sell you the vehicle you want but not doing the due diligence to make sure you can afford the vehicle.
What are the minimums to qualify?
There are no minimum qualifications to pre-qualify! Each auto loan application is evaluated based on the credit profile and equity position.