Frequently Asked Questions
Q: Can I get an auto loan even if I have bad credit?
A. Absolutely! This is our specialty at Mike Castrucci Ford in Milford. We work closely with a network of partners that specialize in helping people with bad credit buy a car. Even if you've been turned down before, we invite you to try again with us.
Q. What if I have a bankruptcy?
A. The Credit Approval program at Mike Castrucci Ford in Milford can get you approved for a vehicle regardless of where you are in the bankruptcy process.
Q. What if I have repossession?
A. Many of the customers at Mike Castrucci Ford in Milford have had repossessions in the past. Our business is helping you, the customer, re-establish credit and move beyond the challenges you've had in the past.
Q. What if I'm disabled or on Social Security?
A. Being on disability does not hinder your ability to obtain financing. Social Security is recognized by lenders as income and can be used in determining what size loan you qualify for.
Q. What if I'm self-employed?
A. Being self-employed in most cases is not a problem. Sometimes, proof of income may not be required at all. If it is, having verifiable income is the key. We can use tax-returns, bank statements, or cancelled checks.
Q. What if I have a new job?
A. Not to worry, the banks we work with at Mike Castrucci Ford in Milford look at dozens of factors beyond just job time. We understand that everyone changes jobs from time to time and we still have ways to get you financed.
Q. What if my trade-in has a larger balance than what my car is worth?
A. Being "upside-down" in a trade is a tremendous challenge for most dealers because their cars are already priced well over retail value. In our case, we regularly buy vehicles at a tremendous value specifically for trading customers out of negative equity situations. Often, this means we can trade you out of your upside-down trade-in while rolling over little or no negative equity.
Q. What if I don't have money to put down?
A. At Mike Castrucci Ford in Milford of Cincinnati, we want to talk to you anyway. We have many programs that allow you to put zero money down. Let us know how much you are working with and we will try and fit the finance program to your needs.
Q. What if I'm a first-time buyer?
A. While you may not have had the opportunity to establish a record of on-time payments, we can help you get there and get you behind the wheel at the same time.
Q. Do you offer military financing?
A. Yes, We have Several Financial Institutions that have specialized in military member financing.
Q: What if I have excellent credit?
A. We have fantastic programs for those with excellent credit including Credit Union Direct financing that offers some of the best interest rates in the area.
Q. What if I have a trade-in?
A. All trade-ins are welcome at Mike Castrucci Ford in Milford, running or not. We also specialize in trading customers out of a negative equity position. If you have a trade, we would love to talk to you about it.
Q: Can I get a vehicle history report?
A. Yes. We recommend it at Mike Castrucci Ford in Milford.
Q: Can I get a copy of my credit report?
A. Yes, but not from us. We are happy to show you your credit report and go over it with you. However, due to privacy laws, we cannot give you a physical copy of your report. We recommend visiting annualcreditreport.com for a free copy of your credit report.
Q. How much will my monthly payment be?
A. There are many factors that go into calculating monthly payments such as amount of purchase, interest rate, term, and down payment. With hundreds of banks, thousands of programs, and a wide selection of cars, your best bet is to contact us with your budget and we'll see what we can make work for your specific situation.
Q: How long does the application process take?
A. Filling out the credit application physically or online only takes a few minutes. After the application has been submitted, the bank may request additional information such as paystubs, phone bills, bank statements, or they may not request anything. Every bank and every program is different but we'll help you get everything completed as quickly as possible.
Q. What do people need to bring with them to finance a vehicle?
A. You should have available the following documents: ID, Title, pay stubs, etc. You may also be asked to provide Utility or phone bills, bank statements, etc.