We’ll loan you the money for a new or used vehicle, and you’ll pay it back with interest over a specified period of time.

It’s good to plan ahead by getting preapproved for your auto loan. Being preapproved also gives you good negotiating power with the seller and can save you time at the dealership. Closing is quick and can be done remotely.

Elements can finance up to 120% of your car’s value, including tax and license, and we offer flexible terms. Our auto loan payment calculator (jump links to the monthly calculator FAQ) can help you determine what terms work best for your budget.

If approved, funds will be made available to the dealer or seller directly via an electronic transfer or check.

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Yes!

A dealer will take a fee for arranging the loan. It’s called a dealer origination fee, and is usually 0.5% to 1% of the loan amount*. When you get your auto loan from Elements, though, there’s no dealer origination fee because you’re working directly with the lender instead of going through a middleman.

And that’s not the only advantage to getting your auto loan from Elements: walking into a dealership with an approved loan already in hand means you won’t be subject to everyone’s least favorite part of the car-buying experience: sitting in the loan department’s cramped office, hammering out a deal over 2-3 excruciating hours.

So: going with Elements not only saves you money, it’ll likely save you time at the dealership, too.

*Source: Credible.com as of 10/12/2021.

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Thinking ahead is always a good plan when buying a vehicle. Applying before shopping helps you know your budget.

It's also a good idea to have preapproval before heading to the dealership. That way, you walk in with the negotiating power of an in-hand approval, and walk out with your new (or new to you) vehicle much faster.

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There are no prepayment penalties or an annual fee associated with an auto loan.

Elements auto loans include a low $140 processing fee. Refinancing of an existing Elements auto loan is also subject to an additional $200 fee³.

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What Will My Auto Payments Be?

Auto Loan Calculator

Yes, our auto loans also work for refinancing your current one.

This could be a good option if you’re looking to lower your monthly payment with a lower interest rate, or shorten the term of your loan. To determine if refinancing makes sense for you, compare your current auto loan rate and term to our auto loan rates and terms.

Refinance

3 Easy Steps to Get Approved

1. Apply online - You can apply online in as little as 15 minutes! Submit your application online anytime, or call 1-800-621-2105 to get started. Have your government-issued ID (driver’s license, state ID, or passport) and proof of residence ready.
2. Take our call - We'll contact you within one business day after you submit your application to go over what documentation we'll need and to answer your questions. We’ll also ask for your vehicle’s value, make, model, year, mileage, and VIN if not provided on the application.
3. That's it! - We'll contact you with a decision within one business day. Once your application is approved, we’ll contact you to sign documents and your loan will be complete!

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