Frequently Asked Questions
How do I apply for an auto loan?
o Apply online at www.RocketAutoLoans.com
o Call us at 708-405-6120
o Shop the Dealership at 7911 Roosevelt Rd, Forest Park, IL
How long does a loan approval take?
o Most applications are Approved within 15 minutes
How large of a loan do I qualify for?… (Line of Credit)
o Loan amounts are based on Provable Gross Monthly Income (minimum $800-month income required)
o Loans amounts range from $5000 to $35000 in most cases.
Will I need a down payment?
o Our most popular program is the $0 money down program (Not everyone will qualify) Minimum gross monthly income is $2250 to qualify for the “No Money Down” Program”
My credit is horrible… Can I get a loan?
o We can get loans for anyone… But if your credit is “horrible” You will need money down or a co-signer.
What type of vehicles will I qualify for?
o Most Banks prefer newer – low mile – vehicles (Pre-Driven 2015 – 2016 – 2017 – 2018)
If I don’t want something late model… Can I get something older?
o Older Vehicles are available… but the bank’s want some money down. In most cases ($1000- $2000) down. Down payment is from $0 down to 50% down. With ½ down… we can get anyone an auto loan.
What is the % rate?
o Interest rates are based on risk. Risk is a combination of factors. (between 3.9% to 23.9%) see payment chart. Credit score (FICO score) previous Auto Credit History – time on current job – monthly income – money down – Age/year/model/miles of vehicles – does it have an extended warranty? Does it have Gap Insurance? These are all factors that are used in determining “RISK” to the lender.
Where do I purchase my vehicle?
o We arrange financing for vehicles we sell.
o We are located at 7911 Roosevelt Rd. Forest Park, IL 60130
What if I need transportation to the Dealership?
o We will arrange transportation by sending a “courtesy vehicle” to pick you up at no charge.