Luther Kia’s Steppingstone Financing Program

Proof of Income  

Proof of Residence

Valid Government Issued Photo ID

Full coverage insurance at time of sale

This varies on a case-by-case basis. See a Steppingstone Finance Team member for recommendations specific to you.

Yes! We highly encourage you to keep it, regardless of its value, mechanical, or body condition. Please speak with a Steppingstone Finance Specialist before making any final decisions to salvage it, donate it, or sell it.

Yes! At the time of delivery someone with a valid driver’s license will be needed to drive the vehicle off the lot.

Yes!

We do not work on applications ahead of time because we want to see you successful with your auto financing goals! When it comes to more complex or tougher to get approved credit scenarios, every detail matters and if we don’t understand the details, then it makes it difficult to give you accurate results. 

We understand your time is valuable. Think about it like this, rushing this process is like rushing cooking a turkey on Thanksgiving Day when you are hosting for friends/family. Find a way to do it in 2 hours and save time but have not a great outcome or prepare ahead for the extra time it takes to get the results you ideally want to have.

To save you time, we recommend speaking with a Steppingstone Finance Team member to prepare you with what is recommended to bring the day you arrive with a scheduled appointment. When you have an appointment, our team will have a dedicated time block set aside to focus on you and your success with our specialists.

Lenders minimum income requirements vary. In today’s economy, here’s what our specialists recommend for individuals.

Employed or Self Employed: $2500+/month Gross Income before taxes or deductions are taken out.

Fixed Income Only: $2000 +/month

Various types of income or a joint credit application: Contact Us for details

OAC. See a Steppingstone Finance Team member for questions specific to you.

Current income that is received on a regular basis. Most common types of income that are accepted but not necessarily limited to the following: Employment, self-employment, fixed income, child support, alimony, foster care, adoption assistance, cash income that is verifiable, pension, retirement, rental income, Door Dash, Uber, Lyft, etc.

Income that is typically not accepted by lenders: Government approved cash assistance, food stamps, payments from student loans or school grants, income given to you by friends or family to help pay your bills, someone else’s income including a spouse or significant other that lives with you but not going on the application with you if you live in MN.

Contact a Steppingstone Finance Team member for questions about income related to you specifically.

Anything we have available for sale; however vehicle availability changes on a day-to-day basis. If you are looking for something specific that is not in our inventory, contact our Steppingstone Finance Team as we may be able to obtain other inventory options for you. OAC and pending current availability.

The interest rate is based on your creditworthiness and lender specific guidelines or available promotions/programs. We will go over your options and the rate you qualify for at the time of your visit.

Bankruptcies, both open and discharged are one of the most common credit scenarios we specialize in. We encourage you to contact the Steppingstone Finance Team to get started.

On average 2.5-4 hours. This will ultimately depend on your goals, your preparedness, if you are on time for your appointment, how busy the dealership is the day you arrive, vehicle availability, how complex your unique situation is, and how busy the lenders are when we call. For tougher credit, it may take more time. We won’t give up until you do if we find a bank willing to work with you under the right scenario. Stick with us and we will do everything we can until we find a direction. We are confident it will be worth your time. OAC. 

Walk-ins are always welcomed; however, we cannot guarantee our team’s availability if you do not have a scheduled appointment but will do the best we can to help regardless of when you arrive. To save you the most time, we recommend contacting a Steppingstone Finance Specialist to reserve your dedicated time at the dealership.

The difference between full coverage and liability is having collision and comprehensive coverage. The maximum deductible for both is $1000. It can be less; it just cannot be more if you are financing the vehicle with a lender.

Contact the 3 major credit bureaus, Equifax, Transunion & Experian and unlock them for a minimum of 24-48 hours starting the day of your visit. If you do not have their contact information, you can search it on the internet or contact our team for details prior to your appointment.

On Approved Credit.