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Important acknowledgement, please keep a copy of these  contents for your records. A copy of the items below will arrive via email in your Motorcars Financial welcome packet


Terms and Conditions
Fee Disclosure Notice
Items Needed: Checklist
Generic Sales Agreement

Terms and Conditions
Motorcars Financial is a fee paid finance brokerage firm. The purpose for this document is to help you familiarize yourself with the different options and many finance products available, and to help Motorcars Financial understand how we can best accommodate your needs, and to simplify the task at hand between you, the seller and the lender. This document will also serve as a secondary agreement allowing Motorcars Financial to begin loan process services ordered by you the client.

Letter of Credit Pre-Purchase Approval Program: When purchasing specialty vehicles on credit there are many different tasks we must complete along the way that may seem tedious compared to a normal or typical vehicle loan process, but are very important and are needed to protect you and the lender from fraud or other serious matters that could occur. This task can take time and could slow down the purchasing process for various reasons. This product enables you to get all the preliminary functions and personal documents out of the way before you find that perfect vehicle; such as income verification, applicant identity verification, etc. So once you have your letter of credit in hand we can use these (set aside) funds to make your purchase from an individual, a dealer, or an auction such as eBay.

Ultra Luxury and Collector Car Loan Criteria - extreme exotic cars of any age, to our discretion and all classic cars 25 years or older and late model luxury cars with a minimum loan of $6000, normally with a minimum down payment, to get there, of 10%-20% on loans below $100,00 including registering state motor vehicle sales tax. Finance terms longer than 60 months typically
require a 20% down payment.

Our Finance Options are simple interest long term financing ranging from 24 months to 144 months. We also offer simple
interest balloon type financing, similar to financing arranged for the acquisition of airplanes, on ultra luxury and specialty vehicles as well. There are no pre-payment penalties on any of the Motorcars Financial finance products.

Age and model of vehicle, along with the amount financed will determine which terms are available.

Vehicle Leases: We offer new and pre-owned luxury car leasing, depending on the type of vehicle, most luxury car lease programs have options up to 60 months and exotic vehicles can carry terms up to 84 months, depending on which lending
institution has approved the financing you've requested and that institutions lending parameters.

Finance Rates: Interest rates can vary largely in todays lending market. Loans and lease rates, for specialty cars are typically fluctuate between mid 5s to as much as 10% depending on the collateral and some other possible variables, such as: amount of loan and year model of vehicle. Late model pre-owned vehicles typically can fluctuate between low 4's and 10% depending on the different variable characteristics of the individual loan structure.

Arranged Finance / Approval Process

Step 1: If we have not already spoken to you, one of our vehicle finance specialist will need to communicate with you via telephone or email so we may gather all pertinent information regarding the vehicle, the applicants ability to repay the arranged financing and to discuss terms and rates. Once we have reviewed your application for credit we will submit your application to the proper lending institution, whos lending criteria best fits your individual profile.

Step 2: Once your financing is approved, you will receive a Pre-contract Summary (Letter of Credit) via email with all the details pertaining to the approved finance terms. If for any reason the particular vehicle the client has in mind does not work out between the applicant and the seller, the client may find another car. Clients letter of credit is in place with a pre-approved
finance amount. At this point we are just waiting for the proper documents needed to fund your loan. (See welcome packet you will soon receive via email, once you complete this application process. Re: checklist)

Step 3: Once we have all the necessary documents between the seller and you, we will send your finance contracts out to you via email, fax or overnight delivery. In most cases, once your contracts are returned to the lender, your vehicle financing will fund within 2 business days.


FEE DISCLOSURE NOTICE

        No Risk Application Fee

Due to the over abundance of bad credit applicants Motorcars Financial chooses to collect a $49.00 application fee. This fee is merely a bad credit deterrent, as for Motorcars Financial does not carry any sub-prime lending programs. Once the applicants financing is approved the no risk application fee will be deducted from the client's approved finance fees.

If for any reason, the application is turned down by any of our lending institutions, Motorcars Financial, LLC recommends Omega Credit Repair and Counseling Services of McKinney, Texas to help you resolve any credit issues you may have. No matter
where you live in the USA, these guys are very good at what they do.

        Good Faith Deposit

Vehicle Locates & Approved Leases - The Good Faith Deposit will be fully refunded to you once the lease has funded. All deposits
are needed to be paid up front before Motorcars Financial begins a search for a particular vehicle, acquire by purchase the vehicle for lease or add any aftermarket products on the clients behalf. This deposit is fully refundable should we be unable to secure financing, find the car you are looking for or can't do the trade-in, for whatever the reason may be on the behalf of Motorcars Financial.

        Approved Finance fee

(Letter of credit / New purchase) If you are applying for car financing and we are processing the finance documents for: a.) a Pre-Purchase Approval (Letter of Credit), b.) An arranged purchase, or c.) Re-finance or cash out, there will be an approved loan
fee due at the time your new loan is approved.

The pre-purchase approved Letter of Credit allows you to deal from strength when negotiating with the seller. This will also speed up funding once the purchase price and other arrangements, have been agreed upon between you and the seller. You may use the letter of credit to acquire a vehicle from an individual, a dealer, or can be used for purchase at a swap meet or an
auction such as eBay. Once your loan is approved, your app fee will be deducted from your Approved Loan Fee. Vehicle loan amounts up to $30,000 are processed for a base rate fee of $299.99; amounts over $29,999 will be calculated at 1% of the financed amount. Once we have all the information and personal documents we need from you, in order to process your arranged finance documents, we will send your finance contracts to you via email or overnight delivery. We will also be here to answer any and all questions to help you along the way while signing your finance documents. Once the lender reviews and
accepts the properly signed and notarized contracts your arranged financing should fund within 48 hours.

        Cash out Finance / Lease Back Approved Finance

Fee (Own vehicle out right. Currently holding clear title) Due to the unsteady climate in the in the banking community, there is a 1% non-refundable service fee due at time of approval on cash-out / lease-back finance arrangements. We apologize for
any inconvenience this may cause, these products of financing are very tough to secure in the present economic climate. Motorcars Financial suggest you exhaust all other options before contracting us for this service.

$500.00 minimum fee on all Cash-out / Lease-Back Finance Arrangements All fees disclosed above will need to be paid in full before actual vehicle finance contracts can be sent out on your behalf.

Cancel Application Process Notice

Our vehicle finance brokerage service is to provide you with approved financing. Once the financing is approved such services are rendered. If you decide during the loan process cycle that you no longer wish to use our services, you must contact us via email so we can have a "STOP LOAN PROCESS NOTICE" IN WRITING. If you fail to do so before we have your loan approved, you will be billed for minimum loan fee of $299. An in-house credit will be issued for the approved loan fee collected, towards any of our products or services. This in-house credit will stand until business is final. Motorcars Financial, LLC subscribes to Credco to obtain your credit file from all three main credit reporting agencies. We pull an Auto Credit related report as well as other finance responsibilities you may carry. Motorcars Financial reserves the right to report any and all unpaid debts we may carry on a clients behalf.

Note: Most lending institution's loan approvals are honored for 30 days.

Due to the possibilities of changed structure, pertaining to either the lending institution's terms or client financial status, that could have occurred since time of original loan approval, your loan will need to be processed again, at no cost to the client.

Items Needed:  Checklist

In order to process your requested finance more quickly, please provide us with the following documents listed in below.

___1   proof of income

a.       most recent W-2 and current year to date pay stub

b.       If self employed: Full Current Tax Return (all schedules and signature pages)

c.       personal financial statement for all self employed and or if own more than one rental property. (we can supply fill in the blank form, you may supply round about figures)

___2   business/commercial applicants will need business tax returns and financials

___3   legible photo copy of Drivers License for Each Applicant

___4   sales agreement between seller and buyer

___5   copy of the front and back of vehicle title

___6   proof of insurance, for the vehicle being financed. (Insurance Binder)

___7   signed Pre-contract Summary



Notes:

Sales Agreement

Buyers Contact

Information:   Dealer: _____  Individual: _____

Name:

_____________________________________________

Address:

___________________________________________

Phone

:_____________________Cell:____________________

Email: 

_____________________________________________



Sellers Contact

Information:

Name: _____________________________________________

Address:

___________________________________________

Phone

:_____________________Cell:____________________

Email: 

_____________________________________________

Vehicle Location, if

different from seller:____________________

Contact:_____________________

Phone: _________________



Vehicle

Information:

Year:

________­ Make: _________­­­­­­­____ Model: _______­­­­­­______

Miles:

________ Engine: __________Transmission:__________

VIN:________________________________________________

Final

Negotiated Sales Price: $ ___________________________

Deposit / Down Payment

to seller: $ _______________________

Amount to be

Financed: $_______________________________

Sales Tax

include in loan: Yes _____  No_____







Seller:

_________________________________________________



Sign:

__________________________________________________



Buyer:

_________________________________________________



Sign:

__________________________________________________