Finance FAQs
Your Auto Loan Questions Answered: Car Financing FAQs in Arizona
Navigating the world of auto financing can bring up many questions, and at Arizona Car Sales, we believe in providing clear and straightforward answers. Our Finance FAQs page is designed to address the most common inquiries about car loans, credit, payments, and our financing process for drivers in Mesa, Phoenix, Chandler, Gilbert, Scottsdale, Tempe, and throughout Arizona. Our goal is to empower you with the knowledge you need to make confident decisions when purchasing your next used car, truck, or SUV, even if you have bad credit or no credit history.
Below, you’ll find answers to frequently asked questions, categorized for your convenience. If you don’t see your question addressed here, please don’t hesitate to contact our expert finance team directly. We’re here to help drivers across the state secure the best possible financing for their needs, including options for guaranteed credit approval.
General Auto Financing Questions for Arizona Car Buyers
Q: What documents do I need to buy a car?
A: You generally need three documents to apply for financing:
- Valid USA photo ID or your country’s passport
- Proof of address (e.g., utility bills under your name, lease agreement, insurance card)
- Proof of income (e.g., recent pay stubs, bank statements, or tax returns)
Having these ready will help expedite your application process.
Q: Does a bank provide financing?
A: We can offer you financing through a local bank, credit union, finance company, or even our own finance company. We work with a broad network of over 20 lenders to find you the best solution, even if you have no credit or no social security number.
Q: I don’t have a credit history. Can I buy a car?
A: Yes, absolutely! You may apply for financing even without a credit history. We specialize in helping first-time buyers and those new to credit establish themselves and get approved for a car loan in Arizona.
Q: Can I apply for financing if I don’t have an SSN?
A: Of course! Having an SSN is not a requirement to apply for financing. We have financing options available for individuals without a Social Security Number, including those using an ITIN.
Q: How long does it take for my credit to be approved?
A: We have a super quick approval time! It typically takes around 30 minutes at our dealership. If you choose to pre-qualify online, it can take less than 5 minutes to get an initial decision.
Q: Do you report to a credit bureau?
A: Yes, we do report your payment history to Experian, TransUnion, and Equifax. This is an excellent way for you to improve or create your credit history with responsible payments, helping you build a stronger financial future.
Q: How long are the financing terms?
A: Financing duration may vary depending on the car selected and the credit terms agreement, but you could have from 60 up to 84 months of financing available, providing flexibility for your monthly budget.
Q: How do I estimate the total of my purchase?
A: The total of your purchase will depend on the offered Annual Percentage Rate (APR) and your down payment. You can use our online car payment calculator to get an estimate of your potential monthly payments and overall cost.
Q: What interest rate will I get?
A: We work diligently to get you the best interest rate that you qualify for. Interest rates may change according to factors such as your credit score, down payment, the specific vehicle selected, and your chosen monthly term. We aim for competitive rates even for bad credit auto loans.
Q: My proof of address doesn’t have my name on it.
A: Your proof of address has to be under your name for verification purposes. Acceptable documents include your lease agreement, insurance card, or a recent utility bill (light, gas, water, cable, etc.).
Q: What credit score do I need to obtain financing?
A: We accept any credit score. Whether you have excellent credit, fair credit, poor credit, or no credit history, we encourage you to apply. After making your request, our finance team will inform you of the best financing options available for your unique situation.
Q: Can I trade-in my car for trade-in or as a down payment?
A: Of course! Our team will evaluate the condition of your car to calculate its value. You can use your current vehicle’s value towards your new purchase or as a down payment. We invite you to visit our dealership at 1648 E Main Street, Mesa, AZ 85203, for a free trade-in appraisal.
Q: What is the average or minimum down payment to buy my car?
A: The down payment will usually depend on your job time, income, and residence history. The average down payment can be as low as tax, title, and fees. In some instances, we can offer $0 down payment financing or provide down payment assistance. We encourage you to visit us at 1648 E Main Street, Mesa, AZ 85203, for more information tailored to your situation.
Q: May I trade-in a vehicle that I am currently paying with you as a down payment for another?
A: Yes, we accept your car even if you still owe money on it! Visit us at our Mesa dealership at 1648 E Main Street, Mesa, AZ 85203, to review your options and the value of your current vehicle. We can often help you roll over negative equity into a new loan.
Q: I’ve just arrived in the US, can I get a car?
A: Of course! We have financing solutions for new arrivals to the US, even without a prior US credit history or SSN. We encourage you to pre-qualify online; it takes less than 5 minutes to get started.
Q: Why do I need to pre-qualify?
A: Pre-qualifying speeds up your credit approval process and allows us to offer you a financing plan that is adequately tailored for your needs, saving you valuable time at the dealership. It gives you a clear idea of your budget before you even step foot on the lot.
For Customers with an Existing Phoenix Auto Finance Account
This section provides specific answers for customers whose auto loans are serviced by Phoenix Auto Finance, our trusted financing partner. If your loan is with Phoenix Auto Finance, these FAQs will help you manage your account effectively.
Q: Who is Arizona Car Sales and how are they affiliated with Phoenix Auto Finance?
A: Arizona Car Sales is the dealership that originally sold your vehicle and arranged for your loan to be serviced by Phoenix Auto Finance. Phoenix Auto Finance is the company that provides the actual financing and manages your loan payments.
Q: How can I update my street address, phone number, or email address on my Phoenix Auto Finance account?
A: Please log in to your Phoenix Auto Finance account and access the Contact Us tab. Alternatively, you can call a Phoenix Auto Finance Customer Service Representative at: (480) 969-0222 or email [email protected].
Q: How do I make a legal name change (e.g., due to marriage) on my loan account?
A: Please fax copies of your legal documents (e.g., marriage certificate, court order) to the Customer Service fax number: (480) 722-0158. Be sure to include your Phoenix Auto Finance Account number on all documents.
Q: How do I remove a primary borrower or cosigner from this loan account?
A: When two people apply for joint credit, both are legally obligated to repay the borrowed money. Phoenix Auto Finance is unable to release one or both parties from this promise. Both individuals remain liable for the debt. A divorce decree, for example, will not void this contract, even if it directs one person to pay. If the primary payer defaults, the other co-signer/co-borrower remains responsible for the debt.
Q: What if I want to authorize someone else to discuss my Phoenix Auto Finance Account?
A: Please log in to your Phoenix Auto Finance account and access the Contact Us tab. List the full name of the person you authorize us to speak with regarding your Account in the Message box and click ‘Submit’. You can also call a Phoenix Auto Finance Customer Service representative: (480) 969-0222.
Q: How do I have my credit report updated regarding my Phoenix Auto Finance loan?
A: Please log in to your Phoenix Auto Finance account and access the Contact Us tab. List the update(s) you are requesting in the Message box, and click ‘Submit’. You can also call a Phoenix Auto Finance Customer Service representative: (480) 969-0222. If you have supporting documents, please fax them to the Customer Service fax number: (480) 722-0158. Be sure to include your account number and the update you are requesting.
Q: What are ‘call windows’ regarding communication about my account?
A: Call Windows is a tool designed to improve your customer experience. It provides you with an opportunity to select the best time that Phoenix Auto Finance may call you on your cell phone regarding your account.
Q: How do I obtain a copy of important documents like a duplicate service contract, my vehicle title, or my Contract?
A: Please log in to your Phoenix Auto Finance account and access the Contact Us tab. List the document(s) you are requesting, and how you would like the information sent to you (e.g., email, mail, fax) into the Message box, and click ‘Submit’. You can also call a Phoenix Auto Finance Customer Service Representative at: (480) 969-0222.
Q: How can I make a payment without paying a fee to Phoenix Auto Finance?
A: You have several options to make a payment without a fee: enroll in Phoenix Auto Finance AutoPay, pay online with your debit card, or mail your check or money order to Phoenix Auto Finance at 1648 E Main Street, Mesa, AZ 85203. For more information, access the Payments Options tab on their website and click on the desired payment method.
Q: How do I enroll in Phoenix Auto Finance AutoPay?
A: Enrolling and managing your account has never been easier. Please login to your PhoenixAutoFinance.com account, select the “Account Settings” link and click the “AutoPay” button. Your eligible accounts will be displayed. Choose the accounts you want to enroll and follow the simple step-by-step process. If you have multiple accounts, you will need to enroll each one separately. Once completed, you will receive a confirmation email. Note: It can take up to 48 hours to process an enrollment.
Q: How can I cancel my Phoenix Auto Finance AutoPay?
A: Please call Customer Service at (480) 969-0222 to cancel AutoPay. Cancellations must be requested by phone at least 48 hours prior to the scheduled draft date from your bank account.
Q: Can I make a payment a few days late to Phoenix Auto Finance?
A: Your contract has a ‘No Grace Period’ clause, which means you will owe additional interest, and potentially late fees, if you do not make your payments according to the scheduled due dates. If you need to make a payment arrangement, please call Customer Service at: (480) 492-8666.
Q: How do I obtain information about my remaining balance (payoff quote) from Phoenix Auto Finance?
A: Please log in to your PhoenixAutoFinance.com account, access the “Dashboard” tab where your Account Summary is located, and click on the link ‘Get a Payoff Quote’. You can also call a Customer Service representative: (480) 969-0222. Mail Payments to: 1648 E Main Street – Mesa, AZ 85203.
Q: Why am I receiving calls from an automated system from Phoenix Auto Finance?
A: Phoenix Auto Finance uses an automated system to communicate with you about Account information, past-due payments, and other important matters. If you receive an automated call and have any questions, please call Customer Service: (480) 969-0222.
Q: How do I obtain a copy of my payment history from Phoenix Auto Finance?
A: Please login to your PhoenixAutoFinance.com account, access the “Dashboard” tab and expand your “Recent Account Activity.” You will also find the print option just below the transactions or you may call a Phoenix Auto Finance Customer Service representative at: (480) 969-0222.
Q: My payment due dates do not match up with when I get paid, what can I do?
A: Please call Phoenix Auto Finance Customer Service at: (480) 969-0222.
Q: My vehicle was in an accident, stolen, impounded, or repossessed, what do I do now?
A: After you file a report with the proper authority or organization (i.e., police, auto insurance, etc.), please contact Phoenix Auto Finance Customer Service: (480) 969-0222 to be directed to the proper department.
Q: My vehicle was in an accident—what do I do now?
- Please notify your insurance company immediately to report an accident and start the claim process, making sure to provide your insurance company with your lienholder information.
- After you have filed the claim with your insurance company, a decision will be made by the insurance company whether the vehicle is repairable or deemed a total loss.
Q: What documentation should I send to Phoenix Auto Finance if my vehicle is declared a total loss?
- If your insurance company deems the vehicle a total loss, the following documents must be sent via fax to 480-722-0158 or emailed at [email protected].
- Vehicle evaluation
- Settlement breakdown
- Include the Phoenix Auto Finance account number or VIN number on all documents.
Q: Do I have to continue making payments if my vehicle is a Total Loss?
- You remain responsible for making monthly payments until the loan is paid in full. If a total loss has occurred, please have your insurance adjustor contact us on your behalf. Then, we can begin working toward a final settlement with your insurance company.
- After your insurance pays the settlement, you will be responsible for any remaining balance. If you have guaranteed asset protection (GAP) or other debt waiver coverage, we’ll provide the information needed to file the necessary claims.
Q: I have guaranteed asset protection (GAP) insurance—how do I file a claim?
A: If you have GAP insurance, please contact your GAP provider as soon as possible to file a claim. Please refer to your GAP contract to distinguish your provider. The below documents are required in order to process your GAP claim. The following parties are responsible for providing documents to the GAP provider as stated below:
- Phoenix Auto Finance: Finance Contract, Warranty Contract (if applicable), Payoff as of the date of loss, Payment History.
- Insurance company: Evaluation and Settlement breakdown.
If you have questions about your GAP coverage, please refer to your GAP contract and contact your GAP provider if necessary.
Q: What steps should I take if I have a repair claim?
A: Your insurance company will issue a check payable to you and to Phoenix Auto Finance. When you receive this check endorse the back of it, including your account number, and mail it to:
Phoenix Auto Finance
Attn: Total Loss Dept.
1648 E Main Street
Mesa, AZ 85203
Upon receiving the repair check, Phoenix Auto Finance will contact your repair facility to assist them with processing your claim and to request the final detailed invoice of actual repairs completed (invoice must include full VIN number).
To expedite your claim, please have your repair shop email the above document to [email protected] or fax it to 480-722-0158. Be sure your Phoenix Auto Finance account number is included on all documents.
Please keep in mind:
- All repairs must be performed by a state-licensed repair facility.
- Once all documents are received and approved by Phoenix Auto Finance, payment will be sent to your repair facility (not exceeding the original insurance check amount).
- Payments for insurance repair claims cannot be applied to payments or any fees on your Phoenix Auto Finance account.
Q: What happens if I’m in an accident but don’t use the insurance money to fix my car?
A: The check your insurance company issues must be either: Used to repair the vehicle. Applied directly to your principal balance.
Q: What happens if I’m in an accident and my insurance company pays me more than is needed to cover the repairs?
A: The check is made payable to you and Phoenix Auto Finance. Endorse the check and send it along with the invoice from the auto repair shop. Mail the check and invoice to:
Phoenix Auto Finance
Attn: Total Loss Dept.
1648 E Main Street
Mesa, AZ 85203
Once the final invoice from the repair shop and the check are received we will send the endorsed check back to the repair shop. It is between you and the repair shop to determine how you will be reimbursed. We suggest you discuss all reimbursement details before endorsing the check.
Helpful Resources & Car Buying Advice from Arizona Car Sales
Beyond these FAQs, we offer valuable resources to help you make informed decisions about your car purchase and financing. Explore our expert advice on various topics:
- Understanding Auto Loan Terms & Rates in Arizona: A comprehensive guide to interest rates, loan terms, and how they impact your payments.
- Arizona Bad Credit Car Loans Guide: Learn how to secure financing even with a less-than-perfect credit history.
- How to Get the Best Deal on a Used Car: Expert tips for negotiating and finding the best value.
- How to Trade In Your Car: A Step-by-Step Guide: Maximize your trade-in value with our easy-to-follow process.
- Why a Vehicle History Report is Essential for Used Cars in Arizona: Understand the importance of a clean vehicle history.
Why Buy From Us? Choose Arizona Car Sales for Confidence!
At Arizona Car Sales, we’re more than just a dealership; we’re your partners in finding the perfect used car or truck in the greater Phoenix and Mesa areas. We stand by our unwavering commitment to quality and customer satisfaction:
- Quality & Inspection: Every vehicle in our inventory undergoes a rigorous multi-point inspection by factory-trained technicians, ensuring it meets our high standards for safety and reliability.
- Transparent Pricing: No hidden fees, just straightforward pricing and clear communication across all our vehicles.
- Flexible Financing: We work with all credit types to help you find an affordable loan solution for any vehicle. Get Pre-Approved Instantly.
- Exceptional Customer Service: Discover Unmatched Excellence: Our expert team delivers a customer-first experience, guiding you seamlessly through your vehicle selection and financing process. With thousands of 5-star reviews, an A+ BBB rating, and proudly recognized as a 2-time CarGurus Top Dealer award winner, our commitment to customer satisfaction shines through every step of your car-buying journey.
- Transparent Vehicle History: Every vehicle comes with a clean Vehicle History Report, verifying no salvage title, major accidents, or odometer fraud, giving you peace of mind about your investment.
- Wide Selection: From fuel-efficient sedans to rugged trucks and spacious SUVs, our diverse used vehicle inventory has something for every Arizona driver, including certified pre-owned vehicles and used car specials!
But don’t just take our word for it! See what our satisfied customers have to say on our Reviews page.
Experience the Arizona Car Sales difference today at arizona.cars!
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*Disclaimer: Guaranteed credit approval subject to program guidelines and lender approval. “No Payments for 90 Days” available on approved credit; interest accrues from contract date. See Arizona Car Sales for complete details and program exclusions. Terms and conditions apply.