Question 1

How does Digital AutoFi work?

Accepted Answer

Digital AutoFi works on behalf of our customers to get them favorable loan offers. We partner with a range of financial institutions, allowing us to offer tailored finance and lease proposals.

Question 2

What credit score is required for approval?

Accepted Answer

Approvals vary based on many factors: credit score, home-ownership status, credit history, and more. Every case is different and no exact score guarantees approval, but we recommend applicants have a 650+ score.

Question 3

Why does a real person review my application?

Accepted Answer

We believe in having a real human review your application and talk with you before submitting to our financial partners. Many auto-loan denials come from online applications that were simply filled out incorrectly.

Question 4

How long will it take to get approved?

Accepted Answer

Decision times vary, but we'll typically let you know if you qualify within an hour.

Question 5

What types of cars can be financed?

Accepted Answer

Exotic, classic, collectible, and high-line luxury brands.

Question 6

What are the minimum and maximum loan amounts?

Accepted Answer

Loan amounts are available from $25,000 to $5,000,000.

Question 7

What terms are available?

Accepted Answer

Terms are available from 48 to 180 months.

Question 8

How much down payment is required?

Accepted Answer

All loans require a down payment of 10–20% of the selling price. Depending on the transaction size, an additional down payment may be needed based on collateral type, model year, and mileage.

Question 9

Do you finance both purchases and refinancing?

Accepted Answer

Yes, both financing and refinancing are available.

Question 10

Is financing available for private-party sales?

Accepted Answer

Yes, financing is available for private-party sales.

Question 11

How long are approvals good for?

Accepted Answer

Approvals are good for 45 days.

Question 12

Do you offer stated-income loans?

Accepted Answer

Yes, stated-income loans are available for amounts under $150,000, subject to the lender's underwriting requirements.

Question 13

What credit scores are accepted?

Accepted Answer

Credit scores of 650+ are recommended.

Question 14

Are loans offered in all 50 states?

Accepted Answer

Yes, loans are offered in all 50 states.

Question 15

What documents are required?

Accepted Answer

A valid driver's license and proof of income.

Question 16

What insurance is needed to secure my loan?

Accepted Answer

Loans require “Agreed Value” insurance. Agreed-value policies require clean driving records, a private enclosed garage where the vehicle is kept, and a daily-driver vehicle for every driver in the household.

Question 17

How do I apply?

Accepted Answer

We recommend submitting your application online. If you have questions about the application, call us at (646) 893-5200.

Question 18

How long does a credit decision take?

Accepted Answer

Approvals typically take a few hours; for loan amounts over $150,000, approval can take up to two business days.

Question 19

Is there an application fee?

Accepted Answer

No application fees are charged.

Question 20

Can I finance my sales tax, title, and registration fees?

Accepted Answer

Sales tax, title, and registration fees may be financed depending on how the deal is structured.

Question 21

Are there fees associated with the loan?

Accepted Answer

Some loans may require appraisals and collateral inspections.

Question 22

Are there any costs if I cancel before funding?

Accepted Answer

Costs associated with an appraisal are payable if the loan is not funded.

Question 23

What documents do I need before funding?

Accepted Answer

Requirements differ for purchases and refinances, but generally include a valid driver's license, the purchase agreement or current registration, proof of down payment, insurance, and seller or lienholder contact information. On funding day you'll receive an exact checklist for your state.

Question 24

Are there prepayment penalties?

Accepted Answer

There are no prepayment or principal-payment penalties.

Question 25

How long does the registration process take?

Accepted Answer

Every state varies, but plates and registration are typically secured within 30 days of funding.

Question 26

What documents finalize the registration?

Accepted Answer

On the day of funding, each client receives exact instructions for the documents their state requires to finalize title and registration.

Question 27

Who handles registration for the purchase?

Accepted Answer

Digital AutoFi handles every registration transaction.

Question 28

Can I register my car in a Montana LLC?

Accepted Answer

Yes, a vehicle can be registered to a single-asset Montana LLC. The LLC must be established with, or transferred to, our approved companies.

Question 29

Do you offer leasing, or only financing?

Accepted Answer

Both. Alongside simple-interest financing, we arrange tailored finance and lease proposals. Leasing can mean lower monthly payments and the flexibility to move into a new vehicle every few years.

Question 30

Which exotic and luxury brands do you finance?

Accepted Answer

Exotic, classic, collectible, and high-line luxury marques, including Ferrari, Lamborghini, McLaren, Porsche, Rolls-Royce, Bentley, and Aston Martin, on model years 1920 to present.

Question 31

Can I finance a car bought from a private seller?

Accepted Answer

Yes. The Digital AutoFi program goes with you: finance a purchase from a franchise dealer, an independent dealer, or a private party, anywhere in the country.

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