F.A.Q.

ABOUT PAUL BLANCO'S PEOPLE AND PROCESS

At Paul Blanco's Good Car Company, not only does our staff have years of experience working with obtaining auto loans for our customers, but our staff will provide you with the attention and care that you deserve. We will work tirelessly to find the perfect vehicle to fit your needs as well as your budget.

Even if you have had past credit challenges, there is no reason to worry. We will take all of the stress of obtaining vehicle financing out of the equation for you. Our trained professionals understand this can be a trying experience, so we want to make things as easy as possible for you and your family.

Our friendly, knowledgeable and large finance staff can help you secure financing, even if you have been turned down elsewhere due to previous credit challenges. We can also provide continued guidance to help you to continue improving your credit rating. We are well established as a leader in special finance deals in California and Nevada.


Frequently Asked Questions and Answers

What does my credit score mean?

Great Credit Score: Over 740

Congratulations, your score is an above-average credit score. Consumers in this range may experience an easy approval process when applying for new credit. Let Paul Blanco’s licensed professionals help by negotiating on your behalf with multiple banks and credit unions to find a rate and payment that fit your budget.

Good Credit Score: 670 to 739

Having a credit score between 670 and 739 places a borrower near or slightly above the average of US consumers, as the national average Vantage Score is 673 and FICO is 695. While you still may get competitive interest rates, you are unlikely to command the ideal rate that a higher score may be able to achieve. Let Paul Blanco’s licensed professionals help by negotiating on your behalf with multiple banks and credit unions to find a rate and payment that fit your budget.

Fair Credit Score: 580 to 669

Borrowers with credit scores in this range are thought to be in the 'fair' or 'average' category. You may have some dings on their credit history, but there are no major delinquencies. You are still likely to be extended credit by lenders, but the rates and down payment may be higher. Let Paul Blanco’s licensed professionals help by negotiating on your behalf with multiple banks and credit unions to find a rate and payment that fit your budget.

Very Poor Credit Score: Under 580

If your score falls under 580 you are thought to have significantly damaged credit history. This may be a result of multiple defaults from several different lenders or as a result of a bankruptcy. In this case it is important to let Paul Blanco’s licensed professionals help by negotiating on your behalf with multiple banks and credit unions to find a rate and payment that fit your budget.


What's the down payment?

If you have a low credit score, you should try to do everything you can to convince the lender that you are a good risk. Making as large as possible down payment can help get the lender to give your application an approval.

If your FICO score is 670 or below, you'll have a better chance of getting a loan from a bank or credit union if you can put at least 15% down, according to the auto website Edmunds.com©.

What if you can't make a down payment?

While making a down payment is ideal, not everyone can afford it. If you can't come up with the cash, you have a few options to try to protect your finances and still buy a car.

* Defer a portion. Need a car today but can only come up with minimal cash today? We can defer a portion of your down payment in some cases (loan you the money for up to 21 days) and give you up to $750 to add to your available cash.
* Purchase gap insurance. This insurance helps you fill the gap between what your insurer would pay for your vehicle if it's totaled and what you owe on the car.
* Buy a less expensive vehicle. Getting a cheaper car means borrowing less, which could result in a lower monthly payment.
* Get a co-signer to help you qualify for a loan. When a co-signer with good credit agrees to share responsibility for loan repayment, this reduces the risk to the lender — and puts you in a better position to qualify for a loan (and a lower interest rate).

What if my credit is too bad to get approved?

At Paul Blanco's Good Car Company, we partner with many different financial institutions that specialize in the most credit-challenged situations. We work hard for you explaining your unique circumstances and finding a lender that suits your circumstances.

What is the Car Buyers Bill of Rights?

What if I don't have a job?

As long as you have some sort of provable income, you don't need to have a job to get an auto loan. Your income can be anything from child support to disability, social security, or even unemployment.

What if I have no credit history at all?

There are several first-time buyer programs that we have access to, so we can still help you get started building your auto loan credit history.

How much am I approved for?

Most financial institutions will approve you based on the amount of provable income you have, so the more provable income, the more you will be approved for.

What type of car can I get approved for?

You will be able to choose from over 700 pre-owned vehicles of every make and model imaginable.

If I have bad credit, won't my monthly payment be very high?

Not if we can help it! We have so many different vehicles in so many different price ranges available for you to choose from that finding a vehicle that can fit most people's budget is not usually a problem.

What methods of payment do we accept?

We accept Cash, Master Card, Visa, American Express and Cashiers Checks. We do not accept personal checks. We have great relatoinships with numerous banks and credit unions or you can secure your own financing prior to visiting one of our dealerships. In addition, we offer a down payment assistance program.

What should I bring to the dealership?

1. A valid Driver License or ID from any State or Country.
2. For sales tax purposes, Two forms of Proof of Residence (something that is routinely mailed to you showing your name and address. i.e. PG&E, SMUD bill, Phone bill).
3. Proof of insurance, if any. If you do not have insurance we have an agent on site who can help you.
4. If you need to obtain financing, some banks will not require proof of income. But if you have challenged credit, banks may require the following: your two most recent paycheck stubs or three months of bank statements if self-employed.
5. If you intend to trade in a vehicle, please bring your trade-in, clear title and registration or lien holder information and payoff amount.