Are there minimum/maximum amounts for each vehicle I finance?
Each Advance (our term for an individual vehicle loan) for eligible vehicles must be at least $10,000 but not more than $150,000.
The amount of the Advance can not exceed the maximum Loan-to-Value ratio (LTV %). Taxes and the cost of registration are not factored into this amount. For used vehicles, the amount of the advance can not exceed the maximum LTV % of 110% of the V³ value. (e.g. for a used vehicle with a V³ valuation of $50,000, the advance can not exceed $55,000). For current-year used vehicles and/or when vehicle valuations do not exist or have not been released, the maximum value will be defined as 90% of MSRP.
For new vehicles, the amount of the advance can not exceed the maximum LTV % of 100% of the V³ value and for current-year new vehicles, when vehicle valuations do not exist or have not been released, the Value will be defined as 100% of MSRP.
