Special Finance Frequently Asked Questions


Q: What is the minimum credit score that I need to qualify for special financing?

A: There is no “minimum” credit score. Oxmoor Auto Group’s Special Finance Center works with people of all credit type, histories, and profiles. Our Louisville-based auto group has one of the largest subprime auto lender networks in the state of Kentucky.

Rest assured, we have special financing options to fit virtually every scenario. We can help almost anyone. Visit our special financing with low credit scores information page to learn more.

Q: I have a vehicle. Does the special finance department accept trade-ins?

A: Absolutely! No matter the condition of your trade-in vehicle, it’s worth something. Even if you have to push, pull, or drag it to us, we will offer you the fair market trade-in value for your vehicle. You can then put that money toward a down payment on a new, used, or certified pre-owned vehicle.

If you would like to discuss the value of your trade-in vehicle, please feel out this quick special finance trade value form and a Special Finance Adviser will contact you shortly.

Q: What if I owe more money than my trade is worth?

A: Owing more than your trade-in vehicle is worth (also known as “negative equity”) is not uncommon. Occasionally, a vehicle’s value depreciates faster than its loan balance. If you find yourself “upside down” in your trade, don’t worry.

Our Louisville Special Finance Advisors can often arrange to roll negative equity into your new auto loan. Visit our special financing with negative equity information page to learn more.

Q: I have only been at my current job for a short time. Can I still qualify for special financing?

A: In most cases, job time is less important than job history. If a borrower has low credit scores, companies specializing in bad credit financing must find other ways to evaluate special finance applications.

If you have “gaps” in your recent job history or have held many different jobs over the last two years, be aware that you may be asked to explain the circumstances. If you have questions about your job time, please fill out our special finance employment evaluation form.

Q: Is it possible to purchase a vehicle with no money down?

A: Yes, it is possible. Our team of Special Finance Advisors has helped many drivers in the Louisville area achieve car loans with no money down. However, we typically advise our clients to start saving money for a down payment as soon as possible.


Because putting money down reduces your vehicle loan amount, lowers your monthly payment, and shows potential subprime lenders that you are less of a risk. Visit our special financing with no money down information page to learn more.

Q: Is it possible to buy a new vehicle?

A: Yes. Although it is more common to purchase used or certified pre-owned (CPO) vehicles with special financing, buying new vehicles is certainly possible. Financing criteria are different for every auto loan. In some cases, you may only qualify for one or the other.

Our Special Finance Advisors will do their best to match you with the vehicle that best fits your specific needs and budget. However, if you have a preference, make sure to let your advisor know.

Q: Do you offer “on the lot” financing (also known as Buy Here Pay Here)?

A: No. Oxmoor Auto Group does not offer “on the lot” financing, nor are any of our Louisville, Kentucky dealerships Buy Here Pay Here in nature. However, the Oxmoor Auto Group Special Finance Center is the best Buy Here Pay Here Alternative!

We specialize in bad credit financing for residents of Kentucky and Indiana and utilize a wide variety of lenders that specifically cater to people with poor credit. That means our Special Finance Advisors can offer you a wider variety of affordable programs at stronger financing terms.

Unlike some Buy Here Pay Here dealerships in the Louisville area, our lender network reports all auto payments to one or more of the 3 main credit bureaus: Experian, TransUnion, and Equifax. This allows damaged credit to heal and improve over time.

Q: I’ve had a bankruptcy. Can I still qualify for special financing?

A: Yes. Our Special Finance Advisors have helped many people in the Louisville area achieve auto financing with a discharged bankruptcy. If you are currently going through the bankruptcy process (Chapter 7 or Chapter 13), it is recommended that you consult your legal advisor before applying for special financing. If you would like to discuss your bankruptcy situation with one of our Special Finance Advisors, please fill out our brief special finance bankruptcy evaluation form.

If your bankruptcy has been discharged, speak with one of our Special Finance Advisors to explore your options. Visit our special financing with a bankruptcy information page to learn more.

Q: Can I obtain special financing if I’ve had an automobile repossession?

A: Yes. Like bankruptcies, a “repo” does not automatically disqualify you from obtaining special vehicle financing. Depending on your circumstances, special finance lenders are often willing to overlook a car repossession – especially if the repo occurred during your bankruptcy or was surrendered voluntarily. Visit our special financing with repossessions information page to learn more.

Q: Can I obtain special financing if I have NO credit established?

A: Yes. While many people think that having no credit scores is similar to having bad credit scores, that is not the case. Most no credit programs were originally designed to help recent graduates obtain financing for their first car. As time went on, some lenders began to specialize in no credit auto financing for other groups, such as self-employed workers or retired senior citizens. In many cases, eligibility for no credit financing is often dependent on a borrower’s financial status – particularly their income, monthly debt obligations, and job history. Visit our special financing with no credit information page to learn more.

Q: What is a co-signer? Do I need one?

A: A co-signer is actually a co-borrower. When someone is unable to purchase a vehicle on their own, many lenders allow a second person to be added to the loan application. This is typically necessary if the borrower’s credit, income, or debt level is not acceptable. Co-borrowers with significantly stronger credit and/or income than the borrower lower the financial risk to the lender and allows the borrower to achieve stronger loan terms.

Though it is not uncommon to need auto financing with a co-signer, the Oxmoor Auto Group Special Finance Center has many programs that allow drivers to purchase new, used, and CPO vehicles without involving another party. If you’re not sure if you will need a co-signer, ask a Special Finance Advisor.