Frequently Asked Questions
I have had a bankruptcy, repossession, divorce, bad credit; can I still get approved?
Yes! General Fleet Brokers Inc. helps people everyday that have had prior credit problems get into a vehicles. GFB understands that bad things happen to good people. We specialize in financing people who need a second chance and first time buyers just starting out.
How much down payment do I need?
It depends on a number of factors, including the vehicle you are looking at, and the strength of your applications. The more down payment you are able to make, the stronger the approval will be and your payment can be lowered significantly. The best way to find out what the required down payment will be is to do a quick on-line application. APPLY ON LINE.
What if I don’t have money to put down?
We have many programs that either allow you to put zero money down or when down payment is required, allows you to defer all or part of it. We will be happy to discuss options with you.
How much do your vehicles cost?
We have access to more than 300 vehicles at any one time that can range anywhere from $500 to $60,000. The majority of our vehicles range between $6,995 - $22,995.
Do your cars have warranties?
Our vehicles are all sold AS IS. The only warranty a vehicle could offer is if it is still under the manufacturer’s warranty. It is possible to purchase an extended service contract, which is between the customer and the company from which the service contract was purchased.
What interest rate will I get?
The interest rate is determined by the lender and is dependent on a number of factors, income and history, length of term and age of the vehicle. We have access to a number of financing options, enabling us to get the very best rate for your specific circumstances.
What documents do I need to bring with me?
To complete the purchase process, we will need some additional information and documentation. General Fleet Brokers has added this check list to make the process as simple as possible. Please have the following documents available:
- Drivers License
- Electric Bill
- Proof of Insurance
- Proof of Residence
- Year to Date Pay Stub
- Six (6) References
- Phone Bill
- Down Payment
Don't be concerned if you do not have all of these documents. There are many substitutions available for each document listed above. These are simply the ones that most people have available. If you are not able to supply some of these, your sales representative will help you with any alternate documents you will need.
Can I have the vehicle looked at by my mechanic before purchasing the vehicle?
Yes! We would be pleased for you to have your own mechanic check out the vehicle before your purchase is complete.
Am I guaranteed financing?
GFB does not guarantee financing. All financing is subject to approval.
What if I have a new job?
This is not a problem, everybody changes jobs. What we are looking for is your ability to repay the loan.
What if I am disabled or on Social Security?
Being on disability does not hinder your ability to obtain financing. As far as Social Security goes, it would seem you have a pretty secure income!
How much income must I have?
The usual minimum income required is about $1,200 per month. The actual amount varies from lender to lender.
Do you report to the major credit reporting agencies?
Yes. Payment history is reported monthly. Some places will tell you they do, not disclosing that the information is reported only after the loan has been fully repaid.
What if I am a first time buyer?
We have a First Time Buyer program designed for you!
What if I am upside down in my trade?
In most cases we can get a little extra help for the bank to overcome negative equity.
How much will my monthly payment be?
This is determined by several factors. Amount of purchase, interest rate, term and down payment.