Gateway One Lending & Finance provides auto loans to consumers with a FICO score of 580 or higher as of December 2014, according to Jim Henry for Automotive News. Gateway One provides a range of loan options for car buyers with prime credit to near-prime credit, so buyers with FICO scores between 580 to 640 may be approved only when the vehicle, mileage and loan-to-value ratio are sound.Continue Reading
Gateway One is a participant in the indirect auto loan marketplace and works directly with over 10,000 automobile dealers in all 50 states to offer auto financing at point of purchase. Gateway One works with new car dealerships and independent dealers, and was the 28th largest lender in the United States as of December 2014, reports Henry. About 75 percent of its loans are made for used cars.
Gateway One sales and credit personnel are available to dealer staff 24 hours a day, seven days a week to approve financing, explains its website. The company services its own loans and offers an online payment portal for borrowers at GatewayOneLending.com. Gateway One Lending & Finance is headquartered in Anaheim, California, with additional offices in Illinois, New Jersey, Northern California and Georgia. The company is owned by TCF National Bank.Learn more about Credit & Lending