Stress Free Car Buying in Richmond, KY

Gates Hyundai in Richmond, KY is the place to buy the vehicle of your dreams—a sedan, truck, or SUV. We have everything you need here, whether your goal is to buy a used car or a brand-new Hyundai. Discover your ideal car without any hassles. We have a financing department that is prepared to demonstrate to you what a positive car-buying experience can be. We constantly have fantastic offers available, and if you're in need of a vehicle loan, we can help. Get the answers to all of your financial issues right here or give us a call right now if you still need help. The process of purchasing a car might be a little intimidating, but not at Richmond, Kentucky's Gates Hyundai.

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Finance FAQ's:

Q: What happens next in the loan approval process after I submit it online?

A: To get a loan for you, our dealership finance manager will submit your loan application to one or more lending providers we work with. This is only a review procedure when the banks or credit unions examine your credit credentials; it has no adverse effect on your credit score. The company manager completes the loan with that financing source after a desired rate and period are determined, at which point the chosen lender will get in touch with you directly. Based on your credit qualifications, the dealership business manager—an employee of the dealership—approves your loan application in principle. The bank or credit union will ultimately decide whether to grant your loan request, but dealership business managers will not sanction the sale of a car unless they are certain that they will be able to arrange you a loan based on your credit criteria. Most loans get through this process in two weeks. Then you can take home your dream Hyundai from Gates Hyundai in Richmond, KY.

Q: What do I do if I receive a letter from a bank or credit union stating that my loan request is denied?

A: A lending source may reject your loan application due to the wide variations in credit qualifications and the various requirements that each lender has for receiving a loan. Lending sources are legally obligated to directly inform you if they reject a loan application. But please be aware that this does not mean that your car purchase is void. Your dealership's business manager is already aware of this refusal and has started collaborating with one of the several other resources at your disposal to get you a loan. You shouldn’t be concerned about this because we are effective at this the great majority of the time. If you receive a loan request denial and would like to contact us to ensure that we have secured a loan for you, please call now. Gates Hyundai in Richmond, KY is ready to answer your questions when it comes to the loan process.

Q: Will additional information be required for my loan?

A: Maybe. During the car sales process at Gates Hyundai, we gather all the data typically needed to finish the loan application. However, depending on your circumstances, a lender may occasionally request additional specialized paperwork. Our Hyundai dealership will get in touch with you to request further paperwork. To guarantee that your license plates arrive on schedule, we kindly request that you send these documents as soon as you can.

Q: How and when will I receive my vehicle license plates?

A: After Gates Hyundai receives the cash and the financing for your new Hyundai car, truck or SUV has been approved, our finance department will file the required papers with the Kentucky Department of Motor Vehicles (DMV). After completing the purchase, the DMV transmits the license plates to our Hyundai dealership. Once the plates are prepared, a finance manager will get in touch with you to schedule a time for you to come in and get them put on. The length of time needed for the DMV to complete your registration and return your plates, as well as the time needed for financing institutions to accept your loan, will determine how long it takes to obtain the plates.

Q: When will my trade be paid off?

A: The trade-in amount is paid to the lien holder on your old car once the financing for your new car has been approved and Gates Hyundai has received the money. We advise you to make any overdue payments on your existing loan. By doing this, you may be sure that your credit record won't reflect any late payments. After the lien is discharged, your bank will return any extra cash that it received.

Q: What does the term well qualified buyer mean?

A: A well-qualified buyer is someone who has a credit score of 720 or higher.