Oklahoma Auto Loan Financing | WEOKIE Banking & Loans (2024)

FAQ about Auto Loans, Oklahoma

  • Whatever type of vehicle you want, WEOKIE offers flexible financing to purchase or refinance new or used:

    • Cars
    • Trucks
    • Recreational vehicles (RVs)
    • All-terrain vehicles (ATVs)
    • Motorcycles
    • Boats
    • Personal watercraft
    • Commercial vehicles, trailers, and more.

    You may be able to lower your monthly payment when you refinance your current vehicle loan with us.

  • Yes! Our goal is to help you keep your hard-earned money in your pocket. If you have an auto loan somewhere else, we can likely reduce your monthly payments. Refinancing your vehicle is quick and easy and offers significant savings.

    Refinance with WEOKIE and save! As a bonus, you can get 1% cash back and no payments for 60 days.

  • Yes, we believe that access to transportation is important, and therefore strive to provide affordable auto loan options for all. We are affordable loan experts and WEOKIE can help you get a loan payment that fits both your needs and your budget!

    In addition to our standard auto loan financing options, we have developed our Smart Path loan program to help those with less-than-perfect credit or no credit at all. It is an awesome solution to make sure you still have access to a reliable car at a reasonable interest rate of 9.99% APR. In order to qualify, your vehicle must be purchased through First Rate Autos.

    • Up To 100% Financing Available.
    • Terms up to 84 months.
    • Payments deferred up to 60 days
    • Protection options, including payment protection and mechanical repair coverage, are available.

    We believe you deserve the chance to cruise around in a good car with a realistic payment, regardless of your credit history!

    See Also
    Weokie Federal Credit Union Customer Reviews, Frequently Asked Questions, Rates, Branches, Related Articles, and Financial Summary - 2024

  • WEOKIE is a not-for-profit credit union, not a bank. While banks are focused on earning a profit for its stakeholders, we focus on returning our profits to our members by offering lower fees and lower interest rates.

    You can view our current Auto Loan rates on the Loan Rates page of our website.

  • Yes, when you join WEOKIE as a member, you become a part-owner of our credit union. In addition to great loan rates, you become eligible for exclusive discounts, financial education resources, and premier online banking services.

    Another reason to finance your car with us is that we look beyond the numbers to the person filling out the application. We consider other factors beyond your current credit score when we review your application.

  • Yes, we can help you if you have an Individual Tax Identification Number (ITIN) rather than a Social Security Number (SSN). At WEOKIE we are committed to supporting everyone in our community in their financial journey.

    Whether you're looking to buy a car, truck, SUV – or even finance a boat or RV – WEOKIE has options for applying with an SSN or ITIN.

    We offer the same great products, affordable fees, and terms. If you are ready to get started, WE are ready to help you finance your next major purchase.

  • We know your time is valuable, so we’ve made applying for a WEOKIE auto loan easy and convenient with our online application process. We have 13 locations and you can apply in person at a branch, or over the phone by calling us at 405-235-3030 or 1-800-678-5363.

  • Our simple online application takes only about five minutes to complete. We’ll contact you – often the same day you apply – on the status of your approval. Your loan will be funded once the process is complete and the title has been obtained.

    We are eager to help you save money, whether you’re buying your very first car or refinancing an existing car loan. We can even send over your signing documents electronically to make things super easy.

  • Yes! Whether you already have a specific car in mind or are still searching for the right vehicle for your family, we make it easy for you to shop online with AutoSMART. You can also shop through our dealer partners, including Truecar, First Rate Autos, and Enterprise Car Sales.

    We partner with dealers you know and trust so that we can offer you a vast inventory to find your next vehicle. Just let your salesperson know that you will be financing with WEOKIE. If you’re leaning toward a private party purchase, you can count on us too.

  • Yes! With WEOKIE's online car-buying resource center, AutoSMART, we make finding your next vehicle easy and fast. We have partnered with dealers you know and trust so that we can offer you a vast and diverse inventory to shop your next vehicle.

    AutoSMART allows our partner dealers to handle your WEOKIE transaction from start to finish. You can stop in and get preapproved at any of WEOKIE's convenient locations, by applying online, or apply right at any AutoSMART dealership. Just let your salesman know that you will be financing with WEOKIE.

    Together, WEOKIE and AutoSMART can offer you:

    • Research tools to help with the selection of your next vehicle
    • The convenience of credit union financing at the dealership
    • Unbeatable member service

  • Yes, you can apply for an auto loan in the usual way and just let us know you plan to buy from a private party. Apply online or contact WEOKIE’s Call Center at 405-235-3030 or 800-678-LEND to reach us.

    Signing documents can be accomplished electronically.

  • Oklahoma is not a title holding state so we do not keep Oklahoma titles. If the state your title is issued from is a title holding state then we would have those. Out of state titles will be released within seven business days.

  • Liens are released within seven business days. If you need the release sooner or have any questions, please contact us at 405-235-3030 or 1-800-678-5363.

  • When you have an auto loan with WEOKIE, it is required that you carry full coverage that includes comprehensive and collision for the value of the loan. If you switch insurance, please remember to send in a new proof of insurance. If insurance lapses, you may be subject to force-placed insurance and any costs associated with it.

  • WEOKIE offers a full list of properties that we currently own, including foreclosed homes and cars. The majority of repossessed vehicles are sold by First Rate Autos. First Rate Autos offers a no-hassle auto purchasing experience and low financing for all vehicles.

    For more information, please visit our Repo Vehicles page.

  • When a natural disaster occurs, such as hail, you can count on WEOKIE to help guide you through the process. If you have a WEOKIE Auto Loan and your vehicle has been affected by hail damage, here is what you need to know.

  • Our Operations Support Team handles all Letters of Guarantees


    Email: operationssupport@WEOKIE.org
    Fax: 405.603.1081
    Text: 405.546.1795 for a secure link to upload documents
    Documentation required: LOG Form, Payoff Request, Total Loss Settlement/Vehicle Valuation, Member(s) Written/Signed Authorization to Release Information.

Oklahoma Auto Loan Financing | WEOKIE Banking & Loans (2024)

FAQs

What is the minimum credit score to get a auto loan from a bank? ›

Most used auto loans go to borrowers with minimum credit scores of at least 675. For new auto loans, most borrowers have scores of around 730. The minimum credit score needed for a new car may be around 600, but those with excellent credit often get lower rates and lower monthly payments.

Read The Full Story ›
Is it harder to get car loan from bank? ›

Americans are having a harder time getting approved for auto loans, as banks worry over the risk of defaults at a time when high interest rates and elevated car prices are squeezing budgets. With borrowers struggling to make their monthly car payments, banks are responding by tightening credit standards.

Read The Full Story ›
What score is checked for auto loans? ›

FICO is an acronym that stands for: Fair Isaac Corporation, the company that developed the FICO® credit scoring. FICO® credit scores are the auto industry standard for determining a potential buyer's creditworthiness.

Read More ›
How do banks determine if you can afford a car? ›

Many lenders will also look at the monthly car payment in relationship to a borrower's monthly income. Fifteen percent or so is a pretty standard payment to income ratio. For instance, if you bring home 2,000 before taxes, lenders are more likely to approve a monthly car payment in the $250 - $300 range.

Know More ›
Will a 500 credit score get car loan? ›

We understand that life happens, and we're here to help you get back on the road with an auto loan for bad credit that fits your budget and financial situation. Yes, it is possible to get a car loan with a credit score of 500, but it can be infinitely more challenging to find a lender willing to approve the loan.

Read On ›
What credit score do you need to get a $30,000 loan? ›

This allows them to look at your history from the past seven years and see whether you've typically made payments on time. For a $30,000 loan, you'll typically need a credit score above 600 just to qualify or above 700 to get a competitive rate.

Get More Info ›
What bank is best to get a car loan? ›

Summary: Best Car Loan Rates Of September 2024
COMPANYFORBES ADVISOR RATINGLOAN AMOUNT
PenFed Credit Union4.7$500 to $150,000
Consumers Credit Union4.2Starts at $7,500 (no max)
Digital Federal Credit Union3.7$2,500 to $500,000
USAA3.7$5,000 to $500,000
3 more rows
Aug 29, 2024

See Details ›
What happens if the bank does not approve a car loan? ›

While a denied auto loan doesn't affect your credit score, hard credit pulls could lower your score by five points, even if the associated loan isn't approved. To prevent penalty, make sure to complete all of your credit checks and compare loan options within what is typically a 14-day shopping window.

See Details ›
Why do I keep getting denied for auto loans? ›

Borrowers may be denied for vehicle financing due to errors in the application, bad or limited credit or a large amount of debt. The first step following auto loan rejection is to contact the lender to request the specific reasons for the denial.

Tell Me More ›
What credit score do you need to get 0% interest on a car? ›

Lenders want to ensure you have a near-perfect history of making payments and handling your debt before offering you no-interest financing. An excellent credit score — 781 or higher — will get you the best deal on financing, but you can still qualify for a competitive interest rate if your score is 670 or higher.

Get More Info ›

What is a good FICO auto score? ›

While there isn't a set minimum credit score to buy a car, you should aim to have a score of 670 or higher, which puts you in the good credit range.

Show Me More ›
Do car dealerships look at Equifax or TransUnion? ›

Auto lenders use a special reporting system called FICO® Auto Score when determining the creditworthiness of a potential customer. The three credit reporting bureaus that contribute information to your FICO® Auto Score are TransUnion®, Equifax® and Experian™.

Know More ›
How do banks verify income for auto loans? ›

They could, though most will simply request to see a pay stub or bank statement, or they may use an e-verify system to check that you are employed where you say you are. Self-employed workers may need to provide tax returns to properly verify employment and income status.

See Details ›
What car can I afford with a 40k salary? ›

on the price of a car. is not to exceed 35% of your gross income. That means if you make $40,000 a year, the cars price should not exceed $14,000. If you make $80,000, the cars price should be below $28,000. And at 150 k salary, that means your max car price should be 50 2500.

Read More ›
How does a bank decide to give you a car loan? ›

The type that's best for you depends on factors like your credit score, the loan amount and the vehicle you want. Lenders typically like to see regular income, a low debt-to-income (DTI) ratio and a good credit score. The stronger your credit score is, the more competitive your rate will be.

See More ›
Will a bank finance a car with 600 credit score? ›

In general, you'll need a FICO credit score of at least 600 to qualify for a traditional auto loan. However, the minimum credit score required with vary from lender to lender. As interest rates increase due to inflation, securing a subprime auto loan may be more difficult — but not impossible.

Continue Reading ›
What is the minimum credit score for car finance? ›

Car finance and credit scoring

There isn't a minimum credit score required to get car finance – it depends on the lender and the type of finance you go for.

Read More ›
Can I get a car loan with a 550 credit score? ›

While you technically can get approved for a loan with a 550 credit score, you'll likely face more challenges and pay significantly more for the loan than if your score was higher. Most lenders won't consider borrowers with scores less than 580 – but you may still be able to find one if you know where to look.

Explore More ›

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