` American Motor Credit

UNDERWRITING GUIDELINES
Eligibility:
A
B
C
D
Credit Score:
>590
589-530
529-480
<479
LTV:
130%
APR:
8% - 16.99%
FEES:
*CMP X 1
*CMP = Contracted Monthly Payment
Mileage Guidelines:
Import
Domestic
0 – 50k
72 Months
72 Months
130%
17% - 19.99%
*CMP X 1.5
50 – 80k
66 Months
60 Months
130%
120%
20% - 22.99%
23% - 29%
*CMP X 2
*CMP X 3 (up to 4)
*$100.00 Application Fee
80 – 100k
54 Months
48 Months
100 – 120k
48 Months
42 Months
CUSTOMER ELIGIBILITY
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A complete and legible credit application, with credit report if available, is required for
initial consideration
A proven employment history and a proven residence history are required for
underwriting approval.
A down payment is required and should be approximately 10% of amount financed
with a minimum down payment of $1,000.00.
Buyer’s payment to income ratio should be no more than 15%. The preferred PTI is 11%
to 13%. Buyer’s with an annual income of $50,000.00 or more up to 20% PTI.
Buyers with repossessions are considered on a case-by-case basis, if REPO is at least six
(6) months old.
Buyers with a bankruptcy or multiple bankruptcies will be considered based on timing
of discharge or dismissal.
Self-employed customers must provide three (3) months of recent bank statements.
TERM AND RATE
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The term of the loan is based on vehicle’s estimated life cycle and buyer’s monthly
payment to income needs. Vehicles must be matched to buyer’s ability.
We accept simple interest contracts only.
MINIMUM AND MAXIMUM LOAN AMOUNTS: The minimum loan amount is $5,000.00
and the maximum loan amount is $25,000.00. Higher loan amounts will be considered
on a case-by-case basis.
VEHICLES
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Any eligible vehicle must be included in Black Book or NADA.
Any vehicle that is more than 10 model years old will be an exception that will require
approval from a senior underwriter.
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A GPS tracking device is required in most cases. Exceptions will be evaluated on a
case-by-case basis.
www.AmericanMotorCredit.com
Tel: (678) 213-5626
Fax: (678) 213-5627