Frequently Asked Questions

What do I do if I have questions about my loan?

If you are unable to find answers to your questions using our web site, please do not hesitate to contact us either by phone or email. Go to the Contact Us tab for more info.

What is a co-signer?

A co-signer is a person who agrees to join the primary borrower in being responsible for the payment and loan obligation. All co-signers are fully responsible for the payments just as the borrower is. You may benefit from using a co-signer if that co-signer strengthens the credit worthiness or ability to pay. You cannot change or remove a co-signer once your loan has been processed.

How do I get the Title to my vehicle?

Once you have paid your auto loan off in full we will send you your title within 10-business days after the payment has been cleared.

What is my payoff?

You have the right to pay off your vehicle at any time. You may also refinance with another bank or lender. The payoff amount varies from day to day. If you are ready to payoff your vehicle or are considering to refinance with a different financial institution or company, please contact us to get your 10 day payoff amounts. Furthermore, paying more than your monthly payment will help you save your interest and shorten the term of your loan. Payoff fees do apply and are based upon the type of Payoff (minimum $200.00)

Can I Make payments online?

Yes, you can make payments anytime online. Call the office to get the link to log into your account.

What are the insurance requirements?

Lightning Fast Finance is often asked by the consumers about insurance coverage required by law in California. The California Insurance Code Section 11580.1b requires all passenger vehicles carry liability insurance coverage with the following minimum limits: $15,000 for injury/death to one person. $30,000 for injury/death to more than one person. $5,000 for damage to property. In addition to the liability insurance coverage required by the state of California, Lightning Fast Finance Inc. requires the following coverage in order to finance your vehicle. 1) Comprehensive Coverage for your vehicle in case of vandalism or theft; 2) Collision Coverage for your vehicle in case of an accident; 3) Uninsured Motorist Coverage for accidents caused by an uninsured driver/vehicle. The loss payee on the insurance policy must contain the following information: Lightning Fast Finance P O Box 4066 Glendale, CA 91222

What types of payments do you except?

You can make your payments by the following methods: 1) Mail in your payment to PO Box 4066 Glendale, CA 91222 2) Pay online by visiting our website www.lightningfastfinance.com 3) Pay through phone by calling our office(fees may apply) 4) Pay by using your designated 7-11 Pay Near Me card (please be advised a $5.99 fee will be charged) 5) You can always stop by the office and make your payment

When and Why will my vehicle be repossessed ?

We at Lightning Fast Finance understand that sometimes we all need some extra time to catch up on payments. In the event that you will be late in making your payment, please contact our offices and make appropriate arrangements with our representatives. Once you pass your due date an automatic email is sent out informing you of your delinquency. You can always take advantage of your 10-day grace period. Lightning Fast Finance reserves its right to secure its interest at anytime without further notice for the following reasons: • Non Payment (no arrangements made by borrower or failed arrangements) • Checks from closed accounts, stolen checks, counterfeit cash and or unauthorized credit card use.(fraud) • Lack of insurance (breach of purchase contract) • Impounded vehicle (driving without a valid driver's license, invalid registration, unpaid tickets, illegal use of the vehicle etc...) • Fraud or Misrepresentation (any type of fraud detected within your purchase agreement or form of payment)

Can i retrieve my vehicle after being repossessed?

Once your obligations have been fullfilled with Lightning Fast Finance, we will release the vehicle. Please be advised that you will also have to fulfill the repossession agencies requirements in order to pick up your vehicle.

Is it a crime to conceal a motor vehicle or other collateral?

Yes. Any person in possession of collateral who conceals property with the intent to defraud a creditor may be guilty of a felony (PC 154, 504a or 538).

What do I do in the event of an Accident?

What is a Grace period?

The grace period is the period of time you have PAST your actual due date. If your payment is due the 1st of each month then your grace period allows you to be late up until the 10th of the month. Thereafter you will be charged a late fee of 5% of your payment. The grace period does not change your DUE DATE you are considered late the day after your due date. Your due date is based on the date you purchased your vehicle and we cannot change that date.

Can I take the car out of the country?

No. Any vehicle financed by Lightning Fast Finance cannot be transported or driven out of the United States unless it is fully paid off.

Why do you ask for my cell phone number and E-mail?

Lightning Fast Finance asks you to provide an active cell phone number and an e-mail address for communication purposes. By providing us with your cell phone number or e-mail address you allow Lightning Fast Finance to contact you by calling, texting and/or emailing you only to discuss your account. For example, once Lightning Fast Finance receives your payment, you will automatically get a confirmation E-mail showing the receipt of your payment. Or, you will receive texts on your phone before and on your due date reminding you of your payment.

What happens when I file for bankruptcy?

The loan you have with Lightning Fast Finance is a “secured loan”. What this means is that if you stop paying the payments on the loan, we have the right to take back the collateral, your car. In bankruptcy - whether a Chapter 7 or a Chapter 13 - all of your debts are discharged. Even secured debts such as car loans and mortgages. However, the bankruptcy court does not have the authority to get rid of the lien on the collateral. If you want to keep the collateral (your car) you have to keep paying on the debt. Examples of secured debts are mortgages, car loans, furniture loans and jewelry loans. If you discharge any of these debts, you DO NOT get to keep the collateral, when you file bankruptcy, For example, you have a car that is collateral for a car loan, you must continue to pay on the car loan or the creditor(Lightning Fast Finance) will repossess the car. However, if you choose at some later point - even after your bankruptcy has long been discharged - that you do not want the car anymore, you can return it to the creditor. Since the debt has been discharged as to you personally, the creditor cannot sue you for any difference between the value of the car and the amount the creditor receives when the car is sold at auction (called the “deficiency”)