FAQ

Offers are provided by Participating Lenders -
there is no guarantee of approval

Questions About OneHourFinance.com

In which states does OneHourFinance.com do business?

We currently serve 48 states within the continental U.S. We do not do business in Alaska or Hawaii.

Is there any cost to apply for financing on OneHourFinance.com?

No! There are no fees associated with our applications. Our applications are fast, free, easy, and secure.

How long does the application process on OneHourFinance.com take?

The application process typically takes about 3 minutes to complete. It’s super fast, incredibly easy, and secure. Once your application is submitted, you may be presented with multiple financing offers within a matter of seconds or minutes. In some cases, auto rate offers may take up to 24 hours or more. (Please note that the response time may vary over weekends and holidays.)

How quickly can I expect a decision on my loan application?

Once your application is submitted, you will be presented with multiple offers within a few seconds or minutes. In select situations, offers may take up to 24 hours or more to show within your account. (Please note that the response time may vary over weekends and holidays.) To view the status of your application and/or offers, log in to your account at any time. You may be contacted by phone or email by lenders, so be sure to check your “bulk” or “spam” email folders too. If you have a unique situation and we are unable to match your profile with one of our lending partners, you’re not alone. We’re committed to helping you look for financing options and we will present you with additional lending sources who may be able to help you through their network of lenders.

I’m worried about identity theft. How does OneHourFinance.com protect my personal info?

OneHourFinance.com is owned and operated by Horizon Digital Finance, L.L.C, a privately held, internet ­based financing marketplace with more than 13 years of experience in online financing. We take serious measures to protect your personal information. Once your application is submitted, it is encrypted for transmission and stored under industry ­leading security measures on Horizon Digital Finance’s servers to ensure continued compliance with Horizon’s strict privacy and security policies.

Questions Related to Auto Loans

What kind of documentation will I need to provide to the lender?

Documents will vary by lender. Many lenders require a copy of your current driver’s license, proof of insurance and a recent pay stub with current year­-to-­date earnings.

Are there auto insurance requirements for an auto loan?

Yes. The auto insurance requirements for an auto loan are determined by each lender and will vary accordingly. Lenders will generally require you to have comprehensive and collision coverage in addition to your state’s minimum auto insurance coverage requirements.

Does applying for an auto loan hurt my credit score?

Typically, no. Credit reporting agencies understand that when people shop for an auto loan, they tend to have multiple auto loan inquiries. Because of this, they identify these inquiries on a rolling, 30 day period and count them as one inquiry on your credit report. Note: while your credit report shows auto finance inquiries, they do not negatively affect your credit score.

Should I freeze my credit report?

Unless you have been a victim of identity theft or suspect that your identity has been stolen, we do not recommend freezing your credit report. While it’s in place, a freeze prevents almost everyone (including lenders) from accessing your credit files, even if you authorize them to do so. You will not be able to apply for a loan while your credit report is frozen. Learn more the pros and cons of freezing your credit files on ConsumerReports.org.

How much money can I borrow?

Every situation is different. The amount you are offered by lenders will depend on your credit history, income, amount requested, the trade-­in value of your vehicle, your down payment amount, and the term of your loan.

Will I be required to make a down payment?

Maybe. Some lenders require a down payment and some do not. If your lender requires a down payment, that amount will be determined at the time of approval.

How quickly can I expect a decision on my application?

Once your application is submitted, you will be presented with multiple lender offers within a few seconds or minutes. In select situations, some lender offers may take up to 24 hours or more to show within your account. (Please note that the response time may vary over weekends and holidays.) To view the statues of your application and/or lender offers, log in to your account at any time. You may be contacted by phone or email by approving lenders, so be sure to check your “bulk” or “spam” email folders too. If you have a unique situation and we are unable to match your profile with one of our lending partners, you’re not alone. We’re committed to helping you look for financing options and we will present you with additional lending affiliates who may be able to help you through their network of lenders.

How quickly can I use my loan?

In many cases you can use your loan within 24 hours of being approved.

How much time do I have to select a lender before my approval expires?

From the date you submit your application, you typically have 30 days to select an offer from one of our lenders. If after 30 days you have not selected a lender, all offers will be deleted from your secure “Account” section of OneHourFinance.com.

What if I don’t select or use any of my offers?

No worries! You are never obligated to select or use any of the lender's offers that you receive on OneHourFinance.com. You typically have 30 days from the date you submit your application to select an offer. If you do not select an offer from one of our lenders within this 30­-day time frame, your offers will automatically expire. If you change your mind and want to reapply, you must wait 30 days from the date you previously applied.

Do I have to use the full amount offered to me?

As long as the amount you use falls within the minimum and maximum amount you were approved for, you can use as much as you need. You may be able to add additional aftermarket accessories or extended service plans to your purchase if the maximum loan amount will allow it. Or, use the remainder of your loan to pay it back sooner!

What is a “loan-­to-­value” ratio?

A loan-­to-­value ratio is the total dollar value of a loan divided by the actual cash value of the car. Loan-to-value ratios are typically expressed as percentages that help lenders evaluate your application. You can learn more about loan-to-value ratio (LTV) by visiting the website (ConsumerFinance.gov).

How do I calculate the “loan-­to-­value” ratio?

To calculate this number for new vehicles, divide the amount of the offer amount by the MSRP (Manufacturer’s Suggested Retail Price) or in some cases, invoice price. For used vehicles, divide the amount of the lender's offer by the vehicle value published in a recognized auto-­pricing guide (like Kelley Blue Book, Edmunds, or NADA Guide). Then, convert this number to a percentage. Loan-­to-­value ratios are typically expressed as percentages.

What if I have a vehicle I want to trade in?

No problem! Simply work with your selected lender to determine your specific requirements. Trading in a vehicle with positive trade equity could help increase your down payment or decrease the amount of the offer. If you are in a negative equity situation (or “upside down”), you can work with your lender to resolve the situation. You may be able to roll the negative equity into your offer.

Questions About Buying My Car

Can I purchase my vehicle at any dealership?

Offers received through OneHourFinance.com lenders, when finalized, can be used at any franchised dealership selling new and used vehicles, including Ford, Toyota, Chevrolet, Nissan, and many more.

Can I purchase any type of vehicle with the offers I secure through OneHourFinance.com?

Once a lenders finalize an offer, based on the offer, Yes, you can purchase any type of vehicle (new or used) from any franchised dealer with the auto loan you secure through OneHourFinance.com. Still have questions about the online financing process? Contact us today!