Finance here FAQ
How much income do I need?
This really depends on the lender, but most require a minimum income of $1,200. If you have less than that, come to us and we may still be able to work with you.
What if I have bad credit?
We can still work with you. We specialize in working with bad credit, troubled credit, and slow credit. Whatever you want to call it, we can help you out. We can even help you rebuild your credit. We want to get you into a vehicle that you can afford.
What if I have repossessions or foreclosures?
All we care about is your current ability to pay for a car. If you have things like repossessions, foreclosures, or bankruptcy in your past, then let it stay in your past. We will help you look to the future.
What if I have no credit?
When you have no credit you just need someone to trust you for the first time, and that’s what we are prepared to do. We have several first time buyer programs that we can put to work for you. We can send you away in a car that you want to drive, and get your credit off to a good start at the same time.
What if I have a new job?
The idea that having a new job affects your car buying ability is largely a myth. People change jobs all the time. Even if you have a new job, we can still help you get into a car.
What if I am self-employed?
This is rarely a problem for our finance team. If you are earning income, then this should never prevent you from getting a car.
What if I am disabled or on social security?
This doesn’t affect your ability to get a car with us. All that matters is that you are currently making enough to handle the payments.
Do you take trade-ins?
We will take your trade-in, running or not, and we will use it to get you into your next car.
What if I still owe on my trade-in?
We can usually help. We will use your trade-in value to pay off the remaining balance on your loan. If you owe more than your current car is worth, then we may be able to include that in your financing.
How much money will I have to put down?
This is really up to you. If you are running tight on money, then we might be able to get you into a zero money down program. If not we may be able to defer part of your down payment if not all of it. Let us work with you.
How do I make payments?
We want your payments to be convenient. You can set them up to happen automatically, or you can pay in person at any one of our six locations in Phenix, AL, Opelika, AL, or Columbus, GA. We accept cash, check, money order, credit card, and debit card. Talk to a Gil's Auto Sales representative to learn about all your payment options.
What will my interest rate be?
This varies on a case-by-case basis. The interest rate increases when the lender believes they are taking a greater risk. We will fight for you to get you the lowest interest rate possible.
What will my monthly payment be?
This depends on a number of factors including interest rate, down payment amount, trade-in value, term length, and of course purchase price. We have a payment calculator under our finance tab that you can use to get an estimate and plan your budget.
Do you report to credit reporting agencies?
Yes. Unlike other places, we report every payment. Other dealerships wait until the loan is paid off to report anything, but we want you to start rebuilding your credit immediately.