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$1,000
Min. Loan Amount
Not stated
APR
Product Name | Globe Acceptance Auto Loan |
---|---|
Min. Loan Amount | $1,000 |
APR | Not stated |
Interest Rate Type | Fixed |
Requirements | $1,800+ monthly income, live in eligible state, ages 18+ |
Review by
Jennifer Gimbel has over five years of experience informing editorial strategy at one of Disney’s digital media brands. Now as loans editor at Finder, she strives to create engaging, transparent content to help readers find products to meet their financial goals. On the weekends, you can catch Jenn at the dog park with her pup Olive or exploring the streets of Brooklyn — iced coffee in hand.
Globe Acceptance’s auto loans are ideal if you have a low credit score or want to establish your credit. It’s willing to work with borrowers of all credit types and has a lenient minimum income requirement of just $1,800 a month. It offers financing to buy a new or used car from a dealership, as well as the option to refinance your current car loan.
But it’s only available to residents of the Midwest. And it’s not up front about what rates and terms it offers — you’ll need to submit a full application to see if you even qualify. You also can’t use its loans to purchase a car from a private seller.
Not sold on Globe Acceptance? Compare your other options below.
To qualify for an auto loan from Globe Acceptance, you need to meet the following criteria:
Globe Acceptance is willing to work with borrowers of all credit types. In fact, you may still qualify even if you have ongoing credit problems like bankruptcy or overdue medical bills.
Globe Acceptance only works with residents of the following states:
Unlike traditional car loan providers that typically require good credit to qualify, Globe Acceptance is open to all credit types — including those who haven’t established a credit history yet. It also has fairly low income requirements of only $1,800 a month.
Globe Acceptance offers both new and used car loans to purchase a vehicle from a dealership, as well as the option to refinance your current auto loan. However, its website doesn’t offer information about what rates and terms you might qualify for. And while it mentions you can borrow as little as $1,000, it doesn’t disclose maximum loan amounts.
On top of car loans, Globe Acceptance also offers financing for the following types of vehicles:
From its short turnaround to its lenient credit criteria, here are a few perks of taking out an auto loan with Globe Acceptance:
Consider these potential drawbacks before applying with Globe Acceptance:
BBB accredited | No |
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BBB rating | D+ |
BBB customer reviews | |
BBB customer complaints | 7 customer complaints |
Customer reviews verified as of | 19 October 2020 |
Globe Acceptance isn’t accredited with the Better Business Bureau (BBB), and scores a D+ rating from the agency. As of October 2020, it doesn’t have any customer reviews on its BBB profile, but does have seven complaints. It doesn’t have any reviews on Trustpilot at this time.
If you live near its only branch in Des Moines, Iowa, you can fill out an application in person. Otherwise, you’ll need to follow these steps to apply online:
You should receive a decision within one business day after submitting your application. If approved, you might be able to get your funds the same day if you have all of the required documentation.
Globe Acceptance doesn’t disclose what documents you’ll need to submit after applying, though most auto loan providers ask to see the following:
Globe Acceptance offers the option to make repayments over the phone by calling 515-225-9067, online or by mailing a check. If you choose to pay online, you’ll be on the hook for a $5 processing fee. The lender doesn’t offer a grace period, so make sure you pay on time to avoid getting hit with a late fee.
You have the option of changing your due date once throughout the life of your loan by no more than 15 days. If you’re struggling to make your repayments, reach out to Globe Acceptance as soon as possible — it might be willing to give you an extension or refinance your loan for more affordable repayments.
See how Globe Acceptance stacks up to other lenders with our guide to car loans.