304 S 1st St, San Jose, CA 95113

(408) 668-2830


What is a personal loan?

A personal loan is an unsecured loan, which means that it does not require collateral like your vehicle title or other assets to secure the loan.

Does the pre-qualification process affect my FICO score?

The pre-qualification process for financing does NOT affect your credit score. Getting pre-qualified initiates a soft pull on your credit, which can analyze your credit history without showing as an inquiry.

A similar instance where this happens is when you receive a credit card offer in the mail. The creditor runs a soft pull on your credit to see if you qualify for their credit card, and if you do, they send you mailers.

Does this mean I am approved?

Getting pre-qualified for financing is the step prior to getting approved. The pre-qualification process is simple and quick. All you need to do is provide some basic information about yourself. With this information, the lender can give you a good idea of what your payment options will be, all without affecting your credit score.

Getting approved may involve providing additional documentation to allow the lender to make a full determination of your creditworthiness. BMC Personal Loans will obtain your credit report, causing an inquiry to be recorded, which may slightly lower your credit score. 

What can I use a personal loan for?

You can use your personal loan for anything (so long as it’s legal). Some examples of what you can use your personal loan for include, but are not limited to:

  • Credit card consolidation
  • Debt consolidation
  • Home improvements
  • Medical procedures/emergencies
  • Travel or wedding

What is a repayment term?

A repayment term is the amount of time, usually counted in months, you will make monthly payments until the loan is repaid in full. Your repayment term, or loan term, can vary depending on many different factors.

The term you choose can affect how much you pay for your loan. For example, if you choose a longer-term length, you may be able to make smaller monthly payments, but pay more overall due to interest. Choosing a shorter-term length can allow you to pay less overall, but you may have higher monthly payments in the meantime.

How do I get the voucher?

After you pre-qualify for financing on our website, visit any vehicle page that you pre-qualify for and press “Save this offer”.

What credit score do I need?

There is no one credit score that we require but having a higher credit score can certainly help increase your chances for approval.

Can I get a personal loan with less than perfect credit?

You may still be eligible for a personal loan with less than perfect credit. We take into account multiple factors, including your payment history. You can get pre-qualified with no effect on your credit score to see what you may be eligible for!

Does it cost anything to refinance?

No hidden costs and no application fees. BMC Personal Loans does not charge a fee for our services. Your loan will only include the loan amount, any fees associated with the title transfer, and any fee your state charges.

What are the restrictions on refinancing?

You must refinance the full payoff amount of your existing auto loan subject to our minimum loan amount of $1000 and our maximum loan amount of $100,000, depending on the state. We do not offer cash-back refinancing or lease buyouts.

Are pre-qualified financing and payment options guaranteed?

Financing and payment options from pre-qualification results are not guaranteed as they are rough estimates given based on the limited information provided during pre-qualification.

How do I apply for a personal loan?

Applying for a personal loan with BMC Personal Loans couldn’t be easier. Our online application is quick, easy, and doesn’t impact your credit score.

What does it cost to refinance?

Your loan will only include the loan amount, any fees associated with the title transfer, and any fee your state charges, such as a lender fee.

What happens after my auto refinance loan has been approved?

You will receive a Welcome Package in 10-15 days from the closing of your loan.

What are the benefits of personal loans?

There are many benefits to getting a personal loan! One of the benefits is that there is no asset (such as a house) securing the loan, meaning that the application process may be simpler than for a secured loan. Other benefits include the ability to use your personal loan to consolidate debt, potentially allowing you to get a lower interest rate than you have been paying.