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Financing Center
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Overview

Frequently Asked Questions

Glossary
Frequently Asked Questions

Buyer Information:

What is the Financing Center?

How does the Financing Center work?

When should I apply for financing?

How large of a loan amount should I apply for?

Is financing available for motorcycles and other vehicles?

Is financing available when purchasing a vehicle from an individual?

Is the monthly payment calculator accurate for my loan amount and interest rate?

Will I get the best loan rate from the Financing Center?

The dealer I am buying my car from offers financing and so does my credit union. Which is a better deal?

I got a better rate from my bank. Why?

Should I tell my seller I am using the Financing Center?


Seller Information:

Why does eBay Motors have a Financing Center?

How does this benefit me as a seller?

What if I offer financing as well?

How will I get paid?

Can buyers pre-arrange financing?

Can I work directly with the lender?

What if I don't want to work with the Financing Center lenders?

If I use the eBay Motors Dealer Center for my listings, can I add a link to the Financing Center?

Buyer Information

What is the Financing Center?

The Financing Center is a convenient online resource for obtaining financing for vehicles purchased on eBay Motors. Through the Financing Center, you will have access to top national lenders who provide loans for the purchase of many types of cars and trucks, motorcycles, boats and personal watercraft, buses, limos and commercial vehicles, RVs and campers, aircraft and a variety of other types of vehicles.
 
Note: All products and services offered through the Financing Center are available only where permitted by law, and are subject to all applicable limitations and restrictions, including eligibility.
 
In order to apply for a loan, you must leave the eBay Motors site and provide information directly to the lender on its secure site. By submitting a secure credit application to a lender, you are thereby consenting to allow eBay to share information with the lender relating to the specific vehicle purchase you make on eBay Motors.


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How does Financing Center work?

The Financing Center is designed to make your buying experience safer and faster by connecting you with quality lenders that meet your specific needs. Here’s how it works:
  1. Answer a few simple questions about your desired loan amount, your state of residence and the type of vehicle you are purchasing.
  2. Click the "Continue" button to be directed to the appropriate lender.
  3. Complete a credit application on the lender’s secure Web site. Your loan is a confidential contract between you and the lender. Your personal information is not shared with eBay.
If you would like more information about the vehicle purchase process, please visit the Buyer Checklist. You can view the buyer checklist by clicking on the Buyer Checklist tab on any vehicle listing page.

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When should I apply for financing?

Applying online has become a fast and simple way to get a loan. You can apply at any time during your vehicle buying process, either before you bid or after you've won an auction. If you choose to apply before winning an auction, many lenders will keep your credit approval good for 45 days so you'll have plenty of time to shop for the right vehicle. This can vary by lender, so check directly with your lender about their process.
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How large of a loan amount should I apply for?

If you are already the winning bidder for a vehicle when you apply, you should apply for an amount that covers the price of your auction after any expected down payment. You may want to apply for a larger loan amount if you plan to finance tax, title, and license fees, shipping, or extended service contracts.
 
If you are applying for financing before making a purchase, it’s a good idea to request a little bit more than you think you'll need in order to give yourself some flexibility.
 
Note: Some lenders cannot include any taxes, licensing, registration, credit insurance, extended warranty/service contracts and other fees when you purchase a vehicle from an individual. Check with your lender for details.

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Is financing available for motorcycles and other vehicles?

Yes. Lenders available through the Financing Center will provide loans for the purchase of:
  • Cars - including passenger cars, collector cars, sports cars, high performance cars, and trucks and sport utility vehicles
  • Motorcycles, pocket bikes, mini choppers, scooters and mopeds
  • Boats and personal watercraft
  • High performance go karts and race cars (not street legal)
  • Snowmobiles and ATVs
  • Aircraft and military vehicles
  • Buses and Limos
  • Consumer and commercial trailers
  • Commercial trucks and vehicles

Not all vehicles will qualify for financing. Please be sure to confirm that your lender will finance the vehicle you are interested in on eBay Motors.

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Is financing available when purchasing a vehicle from an individual?

Vehicles purchased from Individuals (also known as Person-to-Person or Private Party purchases) in many cases can be financed through the Financing Center; provided the auction is closed on eBay. This does vary by lender, so you should confirm that your lender will finance the vehicle you are interested in on eBay Motors.

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Is the monthly payment calculator accurate for my loan amount and interest rate?

No - this is just an estimate. The monthly payment calculator is a free tool provided by eBay Motors to help you estimate your monthly payment. The estimates are based on your own inputs and do not come from lenders. The monthly payment calculator in a listing is not provided by the seller and does not obligate the seller to provide financing for that vehicle. If you arranged financing through the Financing Center before you bid, you can use the rate provided by your lender to calculate an approximate monthly payment.

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Will I get the best loan rate through the Financing Center?

Lenders in the Financing Center offer competitive rates. The annual percentage rate, terms and conditions for your loan are based on a variety of factors, including your credit history, the amount of your loan, the term (in months) of your loan, the price of the vehicle, the age, condition and mileage of the vehicle and your current debt. eBay Motors does not have input into or access to your loan rate and terms; that is a confidential contract between you and the lender.

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The dealer I am buying my car from offers financing and so does my credit union. Which is a better deal?

Each person’s situation is different, so we are unable to advise you on which financing option is better. We suggest you compare loan features and benefits and then make your own decision.

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I got a better rate from my bank. Why?

Depending on your relationship with your bank and their underwriting criteria, rates and terms can differ. It is important to compare all of the loan features (APR, term, down payment, monthly payment, etc.) to decide which loan is best for you. You also should confirm that your bank will finance the vehicle you are interested in on eBay Motors.

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Should I tell my seller that I am using the Financing Center?

If you plan to finance your vehicle through the Financing Center, you can apply for a loan first and then inform the seller once you have received preliminary credit approval.

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Seller Information

Why does eBay Motors have a Financing Center?

The Financing Center benefits both buyers and sellers - buyers have told us that they want financing to help buy vehicles on eBay Motors and research has shown that visitors are more likely to bid and buy on eBay Motors if financing is available on the site. Sellers benefit from more bidding, and more qualified buyers.

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How does this benefit me as a seller?

Research shows that sellers like you should see more bidding activity and more buyers. Plus, you will get faster direct payments and more dependable buyers.

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What if I offer financing as well?

You can continue to offer your buyers whatever services you want to, and as the seller you are always in control of the transaction.

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How will I get paid?

Each lender has different procedures for disbursement of loan proceeds. On every transaction the lender will work with you to make sure the loan is processed quickly to get the proceeds to you as soon as possible.

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Can buyers pre-arrange financing?

Yes, buyers can pre-arrange financing both for specific vehicles and specific loan amounts. When you communicate with a prospective buyer, be sure to ask if they have pre-arranged their financing through the Financing Center.

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Can I work directly with the lender?

On every transaction the lender will work with you to make sure the loan is processed quickly and the proceeds get to you as soon as possible. Its experienced account executives know how to work with dealers to get the transaction done right as well as fast.

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What if I don't want to work with Financing Center lenders?

You can choose not to accept the buyer's loan proceeds. However you would be turning down approved funding and requiring the buyer to take the time to find alternative financing.

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If I use the eBay Motors Dealer Center for my listings, can I add a link to the Financing Center?

The eBay Motors Dealer Center has an automatic option you can select to place the Financing Center link into your listing. For more information, please visit http://www.dealercenter.motors.ebay.com/.

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