Sweet Car Loans

Frequently asked questions


Get the answers you need to common questions about new, used and refinance auto loans.

No. When you pre-qualify with Carnamic Funding, LLC you see real, personalized terms without affecting your credit score.

To be eligible for an auto loan with Carnamic Funding, LLC, you must be 18 years old or otherwise have the ability to legally contract for automotive financing in your state of residence, and have a social security number (SSN) or individual taxpayer identification number (ITIN).

Carnamic Funding, LLC offers a variety of auto loan types: Dealer purchases (when you purchase a new or used car at a dealership) Purchases from private parties Refinancing of current auto loans Lease buyouts (when you decide to purchase your leased vehicle)

Specific terms for your auto loan are determined by a variety of factors, but you should be aware of the following: The minimum amount we finance is $10,000. Term limitations may apply. Loan-to-value restrictions apply. A down payment may be required. Title and state fees may apply.

No, but depending on your situation, a co-applicant may help you meet the requirements for credit and the ability to repay.

Yes, but a co-applicant may be required depending on the loan amount, down payment and other terms. The loan decision will be based on multiple factors other than your credit history. Factors such as your job, income, and education play key roles. Carnamic Funding, LLC also has special programs for applicants with limited credit history.

The vehicle identification number (VIN) is a 17-character string of numbers and letters assigned to the vehicle by the manufacturer. It identifies the year, make, model and other specifications of the vehicle and can be located on your vehicle. If you need assistance locating your vehicle’s VIN, click here for a diagram showing the locations on your vehicle where you can find it: VIN Locations.

No, Carnamic Funding, LLC does not enforce prepayment penalties for auto financing accounts that it services.

A vehicle is considered new when it is untitled and has never been titled or registered with the DMV or any other appropriate agency.

Your monthly payment will be determined by several factors, including your loan amount, term and interest rate. You can estimate your monthly payment using our calculators.

You can apply for your auto loan online in just a few minutes. There’s no fee to apply and most decisions are available in just a few minutes. In cases where applications require a more detailed review, we’ll send you an email when the decision is ready.

No, Carnamic Funding, LLC does not charge you an auto loan application fee.

When you apply for an auto loan with Carnamic Funding, LLC, you'll be asked to provide personal information such as your name, address, social security number, date of birth, employment information, income, and email address.

Depending on the specifics of your loan request, some of the documents that may be required prior to closing are as follows: purchase agreement, registration, title, lease buyout instructions, proof of income, proof of residence, federal tax returns, W-2s and financial statements.

For refinance loans and lease buyouts, we require specific vehicle information such as the year, make, model, mileage and vehicle identification number (VIN).

Yes. Your terms are locked in for 30 calendar days from the date of your original loan submission, which means you know before you shop exactly how much car you can afford.

If you’ve already selected your vehicle of choice, we will need the following information:

  • Whether the vehicle is new or used
  • The 17-character vehicle identification number (VIN)
  • The exact mileage reading
  • The dealership or private seller's contact information

Yes. The following vehicles are not eligible for financing:

  • Vehicles older than 10 calendar years
  • Vehicles with 125,000 miles or more
  • Vehicles valued at less than $10,000
  • Salvaged or branded-title vehicles
  • Gray market or lemon law vehicles
  • Motorcycles, recreation vehicles (RV), boats or aircraft

Carnamic Funding, LLC terms are valid for 30 calendar days from the date you received them. If the terms expire, or your information changes, you can request new terms by resubmitting your application.

With Carnamic Funding, LLC, you'll receive real, personalized terms based on the information you provide. Your rates won't change unless your information changes, your order is updated, or your terms expire after 30 calendar days.

Changes and order updates that can affect your terms include, but are not limited to, the following:

  • Changing your registration address (taxes, title, and registration costs can vary depending on county and state)
  • Changing your reported income or if your reported income needs to be updated to match your verified income documents
  • Changing your down payment amount
  • Changing the vehicle that you are purchasing
  • Adding or removing a trade-in vehicle or the trade-in conditions change
  • Adding or removing a co-signer to your application, or making changes to your co-signer’s information
  • Adding or removing finance products (e.g. vehicle service contract, GAP, etc)
  • Change(s) in your credit report
  • Your terms expired after 30 calendar days

If you have frozen your credit report due to security concerns, you will need to temporarily unfreeze with all three credit bureaus (Equifax, TransUnion and Experian) to proceed with an auto application.

Yes. At Carnamic Funding, LLC, we specialize in challenged credit loans. We will be able to use your income, your job, and your credit history to find you the best loan based on your credit. We don’t focus on your bad credit but rather on you and your needs.

If you’ve been declined for an auto loan, this isn’t the end of the road and there is still a possibility of getting approved.

First, check to see if your credit is frozen. If you have frozen your credit report due to security concerns, you will need to temporarily unfreeze with all three credit bureaus (Equifax, TransUnion and Experian) to proceed with an auto application.

Second, check your application for errors. If you’ve created an account with Carnamic Funding, LLC, sign in to view your application and make changes as needed. Then contact Carnamic Funding, LLC to request a reevaluation of your application.

Third, if you were declined because of poor credit, check your credit report so you can determine what is negatively impacting your score. Depending on what your report says, there are ways to improve your credit so you can be approved next time. For example, pay your bills on time and use your credit cards responsibly. Keep in mind that building or rebuilding your credit can take a while. Credit bureaus typically update every 30-45 days, so if you feel that enough time has passed, feel free to reapply then.

Your down payment is due to the selling party, so please check with the seller’s policy.

It depends on the seller’s policy, so please check with the seller.

Your down payment is based on the results of your Carnamic Funding, LLC finance application which looks at your credit history, yearly income, and the price of the vehicle. Some options to lower your down payment include:

  • Trading in a vehicle that you could apply to your purchase. Any positive trade credit will be applied towards your down payment.
  • Since vehicle price is a factor, try looking through lower priced inventory to see vehicles with lower down payments.
  • Since yearly income is a factor, consider providing information regarding other verifiable income you can add to your financing application.

Yes, you can pay more than the required amount for your down payment, but it can only be adjusted at the time of purchase.

If you finance your vehicle with Carnamic Funding, LLC, your first monthly payment is typically due 30-45 calendar days after you accept your vehicle, depending on approval terms. You can find your exact due date on your contract.

Refinancing your existing auto loan may offer you 1 of 2 potential benefits. First, refinancing may reduce your monthly payment through lowering your interest rate, extending your loan term, or both. Or refinancing may help you to reduce the overall amount of interest paid.

Yes, and you can refinance your existing auto loan with Carnamic Funding, LLC.

Yes, but if your current loan's payoff balance is more than the approved amount, you may be asked to pay the difference as a requirement for getting your auto loan refinanced.

Yes, Carnamic Funding, LLC offers financing to purchase, refinance, or buy out a lease on new and used electric vehicles, as well as hybrid vehicles. Carnamic Funding, LLC’s electric vehicle financing is similar to financing for non-electric vehicles. See our auto loan eligibility requirements and conditions.

Auto loan proceeds cannot be applied to cover the cost of electric vehicle charging stations.

You may be eligible to benefit from possible federal and state tax credits or incentives. For more information, please consult with your tax and legal consultant.

As stated in your loan contract, you are required to maintain insurance on your vehicle throughout the duration of the loan, even if the vehicle is not being driven. Your insurance policy must name Carnamic Funding, LLC as the loss payee. See your contract for more information about insurance requirements, including limits and deductibles.

Yes. You are responsible for making your regular monthly payments until the loan is paid off. You should contact your insurance company to begin the claim process.

If you have Guaranteed Asset Protection (GAP) coverage on your loan, and your vehicle is a total loss, some or all of the balance after the insurance settlement is applied may be covered. If there is a remaining balance on the loan after the GAP payout is determined, you are responsible for making regular monthly payments until the loan is paid off. You can also make a one-time payment, if you prefer.

Ready to get started? It’s fast, it’s easy and it only takes minutes. Get pre-qualified for your auto loan.