Driveway Finance Corporation (DFC) is a subprime auto lender that provides financing solutions to car buyers with less-than-perfect credit. Founded in 2012, DFC is the primary lender for Lithia Motors and Lithia-owned dealer groups, offering a variety of financing options to meet the needs of a wide range of customers.
What is Driveway Finance Corporation?
DFC is a non-bank lender that specializes in providing financing to car buyers with credit scores ranging from 300 to 700. The company provides a number of financing solutions, including:
- New and used car loans
- Refinancing loans
- Lease buyouts
DFC also offers a variety of services to help car buyers make informed decisions, such as:
- A free credit score check
- A pre-approval process that can help customers get an idea of what they can afford
- A choice of financing alternatives to match their budget
How does Driveway Finance Corporation work?
The application process for a DFC loan is straightforward. Customers can apply online or at a participating Lithia Motors dealership. The application process typically takes just a few minutes, and customers can receive a decision within 24 hours.
Once a customer is approved for a loan, they can choose from various financing options. DFC offers competitive interest rates and flexible terms to fit multiple budgets. Customers can also make payments online, by phone, or by mail.
Benefits of financing through Driveway Finance Corporation
There are several benefits to financing through DFC, including:
- Competitive interest rates
- Flexible terms
- No prepayment penalty
- Variety of financing options
- Quick and easy application process
In addition, DFC offers several resources to help customers manage their finances, such as:
- A budget calculator
- A debt management plan
- Financial counseling
Who should consider financing through Driveway Finance Corporation?
DFC is a good option for car buyers with less-than-perfect credit looking for a competitive interest rate and flexible terms. The company also offers a variety of resources to help customers manage their finances.
How to get a loan through Driveway Finance Corporation
Customers can apply online or at a participating Lithia Motors dealership to get a loan through DFC. The application process is straightforward, and customers can receive a decision within 24 hours.
Tips for getting a car loan with less-than-perfect credit
In addition to financing through DFC, there are several things that car buyers with less-than-perfect credit can do to increase their chances of getting a loan, including:
- Make a sizeable down payment
- Co-sign with someone who has good credit
- Get pre-approved for a loan before they start shopping for a car
Conclusion
DFC is a good option for car buyers with less-than-perfect credit looking for a competitive interest rate and flexible terms. The company also offers a variety of resources to help customers manage their finances. By following the tips in this article, car buyers with less-than-perfect credit can increase their chances of getting a loan.
Additional Resources
- Driveway Finance Corporation website: https://www.drivewayfinancecorp.com/
- Lithia Motors website: https://www.lithia.com/
- National Foundation for Credit Counseling: https://www.nfcc.org/