Frequently Asked Questions

Can I get approved without going to the dealer?

Because we work directly with a dealership near you, you must go and complete an application for a car loan.

I have terrible credit, are you sure you can help me?

One thing is for sure, no one is perfect and we all make mistakes. While most lenders might turn you away because you pose a huge risk to them, we are willing to give you a second chance. We have had many success stories with people with really bad credit eventually being able to buy a brand new car from a lender of their choosing. All you have to do is make your payments on time and we will do the rest.

Can I only maintain Liability insurance on my vehicle?

No, full coverage insurance must be had during the entire duration of the loan. Also Copper Lake Financial must be listed as a lean holder on the policy.

Is it important to make car payments on time?

Absolutely, timely car payments will put you on the road to improving your credit situation regardless of what type of credit you might have. Lenders often look at credit reports to see if you are responsible when it comes to paying bills on time and a vehicle payment made on time looks great to them. It will show you are a responsible consumer that is making the right decisions with your credit regardless of your past.

Is a down payment required?

This can only be determined at the dealership in person. Often times a trade-in is involved so you may not need any money out-of-pocket for a down payment. Every situation is different and the dealership can determine how much of a down payment you will need.

Is there a warranty that I can purchase?

All vehicles come with the standard 500 miles / 15 days warranty, whichever comes first. However, extended warranties are available for sale with various terms and coverage to suit your needs. For details you will need to see the dealer.

What if I can't make my payment on time?

If you are certain that you won't be able to make your payment on time, it is best to let us know as soon as you can. The worst thing you can do is say nothing and let your payment lapse. Communicating with us is your best tool for such occasions. We are here to help and we will do whatever we can to help you.

What constitutes a late payment?

Considering we are giving good people like yourself with less than perfect credit a second chance on credit, your payment is due on the due date.

What is a repossession?

Repossession by definition is the action of taking back collateral due to a loan that is in default. In other terms, you pick a vehicle you would like to buy and Copper Lake Financial funds the loan in its entirety. You take the vehicle and use it as you like while making monthly payments until the loan is paid off. However, If you stop making your monthly payments as promised then the vehicle may get repossessed.

If I miss a payment will my vehicle be repossessed?

Repossession depends on many factors, We make every effort to avoid a repossession. We can't stress the importance of keeping an open line of communication with us. We understand things come up in life that we have no control over. Just keep us current with your situation and we will do everything in our power to keep you in your vehicle.

What kind of financing options can Copper Lake Financial offer me?

Financing options are to be determined at the dealership in person.

How much will my monthly payment be?

There are numerous factors that go into determining how much your monthly payment might be. This is done in person at the dealership after finding a suitable vehicle.

Where Can I make a payment?

Making a payment is easy. They can be made by phone, in person at one of our payment centers or online.

Payment Centers

Phoenix
5240 S Central Ave
Phoenix, AZ 85040
Monday-Saturday: 9:00am - 6:30pm MT
Sunday: 10:00am - 5:00pm MT

Phoenix
1620 N 19th Ave
Phoenix, AZ 85009
Monday-Saturday: 9:00am - 6:30pm MT
Sunday: 10:00am - 5:00pm MT

Glendale
5017 W Glendale Ave
Glendale, AZ 85301
Monday-Saturday: 9:00am - 6:30pm MT
Sunday: 10:00am - 5:00pm MT

Can I come in to make a payment?

Most definitely, you can make a payment in person at one of our payment centers listed here with their respective hours of operation.

Payment Centers

Phoenix
5240 S Central Ave
Phoenix, AZ 85040
Monday-Saturday: 9:00am - 7:30pm MT
Sunday: 10:00am - 5:00pm MT

Glendale
5017 W Glendale Ave
Glendale, AZ 85301
Monday-Saturday: 9:00am - 7:30pm MT
Sunday: 10:00am - 5:00pm MT

Where are you guys located?

Corporate Office

5250 S Central Ave
Phoenix AZ 85040
Phone: (602) 638-5425
Monday-Saturday: 9:00am - 7:30pm MT
Sunday: Closed

Can the payment due date be changed on my loan?

Unfortunately, the payment due date is built into the loan and can't simply be changed. However, if you require special arrangements to make a payment please feel free to contact us at:

Corporate Office

5250 S Central Ave
Phoenix AZ 85040
Phone: (602) 638-5425
Monday-Saturday: 9:00am - 7:30pm MT
Sunday: Closed

Is there a pre-payment penalty?

Absolutely not, in fact we encourage it. Simply put there is no penalty fees of any kind for paying off your loan early. It's in your best interest to pay off the loan as early as possible saving money by paying less interest.

Does Copper Lake Financial Report to Credit Bureaus?

Yes, we do! All payments made to Copper Lake Financial will be reported monthly to help rebuild your credit and get you back on your feet.

How does a car loan change my credit situation?

There are several different types of credit. One type of credit is a car loan, and if you make on time payments without any lapses you can show to lenders that you are stable and responsible with credit. We make this process as easy as possible for you so that you can make timely payments. We are on your side, just be sure to keep us in the loop with what is going on in your life.