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Greater Russellville Car Loan - Cogswell Motors

Cogswell Motors wants to help you buy a car that fits your budget and needs. Our professional financing experts will secure you a car loan in the Russellville area, or build you a new car lease so you can be on the road with out a hassle.

Fill out our financing contact form so we can get in touch with you to answer any of your financing questions. If you prefer, call us or come in to Cogswell Motors at 1900 East Main to speak to an experienced financing professional.

Got Finance Questions?
Many customers have questions about how the finance process works.  Although there are exceptions to every rule, here are a few frequently asked questions and the answers that are true in most cases.  Again, each applicant's situation will be considered on an individual basis.

I have good credit. How do your rates compare to other lenders?  Because we do business every day with our lenders, we are often able to secure better terms for our customers.  To simply put it, we are able to get a "bulk rate."  In many instances, we can get a lower rate for you than you could get yourself at the same bank, simply because of the volume of business we do with our lenders.  We also have relationships with multiple lenders, and we work to see which lender will offer you the best terms.

 

What down payment is required?  Down payment is dependent on multiple factors, the biggest one being your credit history.  Customers with good to excellent credit may not be required to make a down payment.  Down payment can also depend on other factors such as the type of vehicle you purchase or negative or positive equity in your trade-in.  Our lenders will tell us when a down payment is required.  

 

Are there mileage restrictions on financing?  In general, our banks will not finance vehicles over 100,000 miles; however, we have seen them make exceptions for customers with good or excellent credit.  For customers with poor to average credit, banks will cap the mileage at 75,000 miles. 

 

Is there an income requirement to financing?  Most of our lenders require a minimum monthly income of $1600 before taxes for an individual buyer and $2400 total before taxes for joint applicants.  Some customers will be required to prove their income.  During the months of January through March, a W-2 for the previous year is required.  During the rest of the year, a recent paystub is usually sufficient. Self-employed income is usually acceptable with professionally prepared tax forms.

 

Is there a minimum amount I have to finance?  Although each bank is different, in general, our banks require financing $7500 minimum.