Couple talking to a financial representative

Loan FAQ

So you're thinking about applying for a loan - check out some of our frequently asked questions below that will help make your journey as smooth as possible.

With questions regarding electronic titles, view Michigan Electronic Tltles FAQ >
You will be contacted within 24 business hours of submitting your application with a decision based on your preference.
  • In-branch applications: You receive a decision right away while in office
  • Online applications: We’ll email you at the email address you submitted with your application
  • Phone applications: We’ll call you at the phone number you submitted with your application
If you have payroll direct deposit to your Financial Plus account and sign up for automatic payment transfers, you may be eligible for a .50% interest rate discount off qualifying loans.
You will need your Social Security number and employment information (employer, occupation, length of employment etc.).
Our goal is to get you your loan as fast as possible. The loan process can be complete in as little as 24 hours. How long it takes to get a loan closed is dependent on when all needed information is received.
When buying from a private seller, the title and a payoff from their financial institution (if there is a lien on the collateral) will be required. 

Once you've found your vehicle, you will follow these steps to complete your purchase process:

  1. Request a purchase order from the dealer. This way we have the vehicle information, price, fees, and the dealership information.
  2. Give your insurance agency a call and request proof of insurance for your  new vehicle with our lien placed on it.
  3. Email these documents to us.
  4. We will send you the paperwork electronically to sign and close on your loan.
  5. Visit your designated branch to pickup the check and take it with you when you pickup your vehicle.

A vehicle is not required in order to obtain a pre-approval. The final loan terms are determined upon receiving vehicle information.

A credit pull is needed for any pre-approval.
A lien can be released on collateral immediately if the loan is paid off in cash.
There is no maximum age of vehicle we will finance, however, an appraisal may be required for accurate value.
We can give a dollar amount that you may be qualified for. If you receive a denial, we'd love the chance to discuss a different amount or another loan option.
You have multiple payment options available to you. Check out our payment options page to determine which is the best route for you.