Answers to our most frequently asked questions

What are the requirements to be considered a Privilege Finance client and apply for your auto loan?

  • Be at least 23 years old
  • Valid identification proof. (ID, Passport)
  • Personal references
  • Proof of Income: Bank statements for the last 3 months, paystub or Form W-4.

How to get my credit report?

Every 12 months you can request your credit report for free by entering Or by calling toll free 1-877-322-8228

How can I build my credit?

  • Always report your income to the IRS.
  • Pay your debts on time all the time, this in addition to generating a positive impact on your credit will save you interest and additional fees.
  • Apply only for the credit you need.
  • Periodically review your credit report, and if you notice an error, the best thing you can do is file a claim.

How can I make my payments?

  • You can make a bank transfer. (Consider the fee per transaction and the date on which you are scheduling your payment)
  • You can make a payment over the phone.
  • You can send a check. (Consider the date you make the shipment)
  • You can pay through Zelle.
  • You can have it automatically withdrawn from your card, using our Automatic Payment Program. Click here to download Form.

What happens if I pay my car loan before the end of my contract? Is there a penalty?

There is no penalty on vehicle finance accounts.

What happens if I don't pay for my vehicle?

  • Your account will be reported negatively to the credit bureau.
  • You may incur a vehicle repossession.
  • The account will be sent to collection companies and they will start a process against you.

What happens if I do not keep my car insurance policy active?

The vehicle will be repossessed immediately and the customer will incur in additional expenses due to the repossession.

What happens if there are changes in my information during the term of the contract?

In order to comply with the clauses of your contract, it is mandatory to inform the company of any update related to the residence address, telephone number, email, bank information, among others.