• Is financing required?

    No. Financing is completely optional. If you don’t want financing and would prefer to pay for your vehicle in full with funds from your bank, you can simply tap or click “Skip Financing.”

  • What information do I have to enter to view my loan estimator?

    All you need to enter is your preferred down payment amount, preferred loan term, & estimated credit score. You will then be able to view your estimated monthly payment (excluding taxes, fees, & add-ons), down payment, & APR.

  • How do I select the down payment or term I want?

    The down payment and loan term you enter into the screen with our loan estimator is used for your loan application too.  We try our best to match your preferences and return the closest loan approved by our lending partners.

  • Can I submit my lending application and then choose to skip financing?

    Yes. You are not locked into financing by submitting a lending application. You can skip financing at any time.

  • Will submitting a lending application result in a hard credit check or impact my credit?

    Yes. You will be able to see estimates before you choose to proceed and a hard credit check will only occur if you click ‘I AGREE' on the lending application page. This is required and run by our lending partners. 

  • Who is my lender?

    Caramel partners with large national banks, and we’ll show you exactly who will provide your loan on the approval screen.

  • How are my financing terms determined?

    Caramel’s lending partners independently review your application and approve you based on their own criteria.  Factors like credit history, income and others can all play a role.

  • Are taxes and fees financed by my lender or do I pay them upfront?

    Yes, they are financed.  The payment amount shown on your initial approval will exclude taxes as fees, as they are not yet calculated.  But you’ll see your final all-in payment on your Price Breakdown before you setup payment.

  • What if I don’t have great credit?

    Some of our lenders provide options to customers with past credit issues, but we can’t guarantee a loan to every buyer.

  • How do I make payments and manage my loan after I get my car?

    After you buy your car, your lender will send a welcome letter with all of the info you need to setup autopay, make payments and review account information.  You can also click on the Previous Transactions section of your Dashboard to find your lender’s contact information right away.

  • Can I pay off my loan early?

    There is no penalty for early payments.

  • How quickly can I reapply for financing if I've been turned down?

    While you cannot reapply for the same transaction, there are no restrictions to reapplying under a new transaction.  However, we suggest waiting 30 days so any changes in your profile that may impact your approval with one of our lenders has time to process.