Used Auto Loan FAQ
Q: What qualifies as a used auto loan?
A: Vehicle models more than one-year-old are considered “used”. Used automobiles must not be more than five years old.
Q: How can I extend my used auto loan terms?
A: 60 months is the standard maximum length for used auto loans. However, certain borrowers meeting minimum qualifications will have the option to increase their terms to 85 or 96 months. If you are purchasing a used vehicle that is a maximum of two years old, borrowing a minimum of $45,000, and have a prime credit score, you may be eligible for our amazing offer.
Q: I’m having a cash crunch and can’t make used auto loan payments. What do I do?
A: If you need to take a little something off your plate, Arbor Financial’s Skip Pay system may be just what you’re looking for. Bypass up to two months of used auto payments per year after making a minimum of three consecutive payments. This flexible option could give you the breathing room needed to get back on track.