Direct Auto Loan Program Overview
Effective October 1, 2008
COLUMBUS FINANCE INC. SINCE 1960
Columbus Finance Incorporated has been in the sub-prime auto loan business since 1960. We pride
ourselves on the prompt friendly service that has made us a Columbus favorite. We treat your customer
with the respect and attention they deserve, developing loyal relationships and referrals for both of us.
CFI is small enough to consider each deal on its own merit – not just a number in the system. Below, you
will find an overview of the general qualifiers that contribute towards an approval.
The common CFI customer has experienced prior credit problems that may
include bankruptcy, repossession, charge-offs, collections, judgments and liens.
These problems will have been situational and will not reflect a chronic
unwillingness to pay their credit obligations. We look at the customer’s recent
history (approx. 3yrs) for positive repayment characteristics.
The customer will have a three year history of applied-for credit in the credit
bureau with at least one installment loan and an opening date one year prior to
the date of the application submitted to us.
The applicant or co-applicant must be the person who will be driving the vehicle
(no straw purchases) with the exception of an under contractual age child. The
primary buyer should always be the first applicant.
Residence Stability Generally, an applicant will have a minimum of three years at their current
residence or a three year history in the same area.
Employment Stability An applicant must be a permanent W-2 / 1040 employee with a minimum three
years at the current job or three years in the same field with no major job time
Employment must be verifiable (no cell phones). Seasonal or temporary
employment is not acceptable to CFI.
Joint / Co-Applicants CFI does not accept co-applicants on applicants that do not qualify due to
chronic derogatory credit reasons. Joint / co-applicants mu