FAQS

Why are you doing this?

The automobile industry is changing. According to AutoTrader, only 1 in 235 new car customers trust and enjoy the current car buying process! Can a restaurant stay in business with those stats? As a successful new car dealer with decades of experience, it is clear that the consumer wants to conduct business in a different manner. We trust that you will find value in our process and tell your friends about it.  

Why would a financial institution be “nervous” about this new program?

It’s simple. The internet has caused a massive shake up on how we finance or refinance our homes. No longer do we go to the large, brick and mortar bank in our best clothes and accept what they offer us. Now we go online and find the best loan terms that we qualify for. HonestCarPayment.com takes this one step further, where we pit the financial institutions against each other for your ultimate win. You will be doing business with the best automotive financial companies in the world. Our value is that we know the questions to ask and fight for you.  

Why should I refinance my vehicle?

Simply put, to lower your monthly payment. Lets face it, life happens and your credit may have experienced some bumps and bruises. If you are paying over 6% interest on your vehicle now, you certainly are. You can go from lender to lender and beg them to give you a better rate, maybe bumping into a neighbor that you did not want to see. At Honest Car Payment, we KNOW by the minute what is the lowest terms that you qualify for, not what rate the lender or dealer believes you will accept!  

When you refinance, does the loan start over?

When you refinance, we find the ideal loan for you based upon your desires. You may choose to have a loan that is a shorter or longer period than your existing loan. In some cases, you may elect to accept some cash back to pay off other bills that are at a higher interest rate. The decision is completely yours!  

Can you refinance my truck?

Honest Car Payment can refinance: cars, trucks, SUVs & RVs. Please remember, the lender will determine vehicle parameters, but we encourage the financial institutions to compete for the privilege of financing your vehicle  

Are you going to charge me for this new loan?

You know that there is no such thing as a free lunch, and to be cautious when you hear that there is no charge for services. Profit is the motive behind every business. (Depending upon your existing loan, you may receive a refund! Were you charged for products or services that you did not agree to?) At Honest Car Payment, the profit generated on the transaction is disclosed and included in the new loan. Transparent pricing will show you what the company is making because it is disclosed on the contract!

Do I stop making my normal car payment while working with Honest Car Payment?

Above all, please continue to make your normal automobile payment, even while working with the Honest Car Payment team. Our managers will assess your vehicle’s value and create a package that is individually designed for you, and shop over 100 lenders. When we find the ideal loan, we will meet in person or via overnight delivery and complete all the required paperwork. Once complete, Honest Car Payment will pay off your existing financial institution and handle all the DMV paperwork to secure the new title for your new lender.  

Do I keep my vehicle warranty?

This is a very important question and one that needs careful consideration. An extended service plan in many cases is vital to protect today’s computer controlled vehicles. (Leave your laptop outside for weeks at a time and see how well it works.) The most important items to consider when answering this question: Do I have a good extended service plan and did I overpay for it? Once these two questions are answered, you will be able to make a decision that is right for you. Remember, transparent pricing puts you in charge without the pressure you may have experienced.