Responsible Lending

At GetMyCar, we are dedicated to helping consumers find auto financing solutions that fit their needs, regardless of their credit history. We believe that access to credit should be fair, transparent, and manageable. This Responsible Lending policy outlines our core principles and what you should expect when using our connection service.

1. Truth in Lending (TILA) Compliance

We require all lenders in our network to adhere to the Truth in Lending Act (TILA). This means that before you sign any loan agreement, the lender must provide you with a clear, written disclosure of all loan terms. This includes the Annual Percentage Rate (APR), finance charges, the amount financed, and the total schedule of payments. We strongly urge you to review these documents carefully before accepting any loan offer.

2. Fair Lending and Equal Opportunity

We support the Equal Credit Opportunity Act (ECOA) and promote fair lending practices. Our platform is available to all eligible applicants without regard to race, color, religion, national origin, sex, marital status, or age. Our lending partners use your financial information and credit history to make objective decisions regarding your loan application.

3. Your Responsibilities as a Borrower

While we aim to connect you with lenders who can help, responsible borrowing is ultimately your decision. We recommend that you:

• Assess Your Budget: Only accept a loan if you are confident you can comfortably make the monthly payments along with your other financial obligations (insurance, maintenance, etc.).
• Read the Fine Print: Never sign a loan agreement without fully understanding the interest rates, fees, loan duration, and penalties for late payments.
• Ask Questions: If you do not understand a term or condition offered by the lender or dealership, ask them directly for clarification before proceeding.

4. Late Payments, Renewals, and Default

Because GetMyCar is not a lender, we do not dictate the policies regarding late payments, missed payments, or loan defaults. Each lender has its own policies, which should be clearly detailed in your loan documents. Generally, late payments can result in additional fees, higher interest rates, and negative impacts on your credit score. If you anticipate missing a payment, we strongly advise you to contact your lender immediately to discuss your options.

5. State Regulations

Auto lending is heavily regulated at both the federal and state levels. The terms, maximum interest rates, and loan amounts available to you may vary depending on the state in which you reside. Our system attempts to match you with lenders authorized to operate in your specific location.