Please contact us immediately if you have any questions related to financing. Call 888-791-4640.

What is Dealership Financing?

Dealership financing is obtaining financing through the dealership with the finance contract assigned to a bank. This process delivers you ultimate convenience, affordability, and value.

What is required to apply for financing?

Name, Social Security number, driver’s license number and state, date of birth, current and previous residence address(es) and length of time at residence(s), current and previous employment(s) and length of time at employment(s), current and previous job occupation(s), sources of income, and total gross (before tax) monthly income.

What happens once I submit my application?

Once you submit your application online, Law Motors finance professionals will process your credit report. Our goal is to return a phone call within two-hours of your submission during office open-hours.  Once you have been notified verbally, your application will be forwarded to a financial institution.

How many times will my credit report be ran?

We pull one credit report from each credit bureau; Equifax, Transunion, and Experian.  We will then communicate with you before we forward your credit application to our banks.  Once a bank receives your credit application, additional credit reports will be ran.

Can I get a copy of my credit report?

You can get your own free copy of your credit report from  We can supply our copy if requested.  Additional verification may be required.

Will my credit score be affected by running my credit?

Multiple inquires on your credit bureau will impact your score.  It is important to make a quick financial decision when shopping for credit.  Extending your credit shopping over a period of weeks, months, or years will impact your score extensively.

Is a down-payment necessary to get an auto loan?

Not necessarily.  Down-payment increases equity value in the vehicle or allows more vehicle on a budgeted payment. Competitive financing occures when enough equity is established in a loan. Best practice suggests investing 20% down-payment. If you are applying for a loan with less than a 20% down-payment, it is a good idea to add GAP Insurance with the loan.

Financing Hours:

Mon - Fri: 9 am - 6 pm
Saturday: 9 am - 5 pm
Sunday: by appoinment

Financing Terms:

  • Aftermarket Back-end Products - Are products or services that are optional in addition to the vehicle’s price. We will display all costs and terms of any additional backend products and services in your contract before you sign.
  • Amount Financed - The dollar amount of credit provided to you. 
  • Annual Percentage Rate (APR) - The cost of credit expresses as a yearly rate. Factors that influence your APR: vehicle, equity, your credit history, your current employment and residence structure, current finance rates, dealers’ compensation, competition, market conditions, and special offers are among the factors that affect your APR. 
  • Contract Rate - The finance rate at which we are able to sell at.
  • Credit Report - A document that includes information on where you live, how you pay your bills, and whether you have been sued, or have filed for bankruptcy. Nationwide consumer reporting agencies sell the information in your report to creditors, insurers, employers, and other businesses that use it to evaluate your applications for credit, insurance, employment, or renting a home. 
  • Credit Score - A number that reflects the credit risk you present based on information in your credit file. The better your history of credit, the higher your score. Your credit score may be used to help decide the rate and other term you are offered. 
  • Down Payment - The initial amount pay to reduce the amount you finance. 
  • Extended Service Contract - Optional protection on specified mechanical and electrical components of the vehicle that may be available for purchase. It supplements any warranty coverage provided with the vehicle.
  • Finance Charge - The cost of credit expressed as a dollar amount. 
  • Fixed Rate Financing - Financing where the finance rate stays the same over the life of the contract. All contracts we assign are fixed rate loans. 
  • Guaranteed Auto Protection (GAP) - Optional protection that pays the difference between the amount you owe on your vehicle and the amount you would get from your insurance company if the vehicle is stolen or destroyed before you have paid off your credit obligation.
  • Monthly Payment Amount - The dollar amount due each month on the loan, finance contract, or lease agreement.
  • Negative Equity - The amount owed on a vehicle above its market value. For example, if your credit payoff is $18,000 and your vehicle’s market value is $15,000, you have negative equity of $3,000.
  • Repossession - If you do not make timely payments on a vehicle, your creditor may have the right to repossess it without going to court or warning you.
  • Reserve - A commission paid to the dealer by the bank who received the assigned the contract. Generally a bank will either pay a reserve by a flat commission based on the amount financed or the potential interest earned from a rate markup. We limit a rate markup to 2.0%. Example: Customer is approved for a 7.99% Buy Rate and we Contract Rate at 9.99%.
  • Total of Payments - As disclosed on a loan or finance contract, the total amount you will have paid after you have made all the payments as scheduled. 
  • Wholesale Rate (Buy Rate) - The finance rate at which an assignee buys a retail installment sale contract from a dealer.
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