HSBC Auto Finance FAQs
Frequently Asked Questions
HSBC Auto Finance has provided the following FAQ section to help answer some commonly asked questions covering all stages of auto loan refinancing process. If you have additional questions that are not covered in this section, please feel free to contact us and speak with one of our loan officers.
General Questions
Who is HSBC Auto Finance?
I've had previous credit problems. Can I still get credit with HSBC?
Who should I contact for general information?
I am a current customer and I have a question regarding my bill. Who should I contact?
What is the best way to apply?
What is the difference between Dealer and Consumer departments?
Can I make my payments electronically?
How do I enable cookies on my browser?
HSBC Auto Basic Guidelines
Refinance FAQs
What are the requirements to refinance my current vehicle?
Where can I find a notary for my refinance package?
Where can I find an HSBC, HFC or Beneficial branch?
What if I can't find my current insurance card for this vehicle?
What if I can't find my original title?
What if I can't find my registration card?
What are acceptable forms of a pay stub?
What if I can't find my bankruptcy discharge letter?
How do I find my Vehicle Identification Number (VIN)?
What vehicle types are ineligible for refinancing?
What is HSBC's return address?
Where can I find the nearest DHL drop location to return my refinance loan package?
Where can I find the nearest FedEx drop location for the emailed refinance loan package?
Notification and Status of Applications
How quickly can I expect a decision on my application and can I check online?
How will I be notified of the decision on my application?
Will I be automatically approved if I already have a loan with HSBC?
How does the process work after being approved?
Approved Applications
How does the process work after being approved?
Once I receive the package, what should I send back?
Declined Applications
Why would I be denied if I already have a loan with HSBC?
Privacy and Security Information
Will my personal information be kept confidential?
If I submit an application online, how secure will my information be?
Who is HSBC Auto Finance?
HSBC Auto Finance is a leading provider of auto loan refinancing and has products that serve the full spectrum of credit consumers. For more information on our company click here.
I've had previous credit problems. Can I still get credit with HSBC?
HSBC specializes in refinancing automobiles for consumers, even if you've had previous credit problems. We may be able to help you, when other lenders say "NO".
Who should I contact for general information?
If you have general questions and are not a current HSBC customer, call us toll free at 1-800-922-4964 and ask to speak to an Account Executive.
I am a current customer and I have a question regarding my bill. Who should I contact?
Call our Customer Service Department at 1-800-418-1888, for additional contact information click here.
What is the best way to apply?
Applying online is the easiest way. Apply now and submit your application.
If I was approved with HSBC through a dealership, can I use that same approval to purchase on my own?
If you have been approved with HSBC, we encourage you to proceed with the offer presented to you by the dealer.
What is the difference between Dealer and Consumer departments?
Our Dealer Department handles all credit requests submitted through dealerships for their customers whereas the Consumer Department handles applications submitted by customers through the internet or by phone.
Can I make my payments electronically?
You can pay by phone using your checking account by calling 1-800-418-1888. If you want to say goodbye to stamps, checkbooks and worrying if you've paid on time, sign up for our free TurboPay program. Click here for a printable application.
How do I enable cookies on my browser?
To enable cookies, please see the instructions below. The instructions below tell you how to enable cookies in general. Our website only requires "session cookies" in order for you to submit an online application. If your software allows you to choose some types of cookies and not others, you may not need to enable all cookies, just the "session cookies." To get the most accurate information regarding enabling cookies, please refer to your Browser's "Help" option. After submitting your loan application and leaving our website, you can change your cookie preferences back to your original settings.
Instructions to Enable Cookies for Microsoft Internet Explorer 6.0+
Select "Internet Options" from the Tools menu.
Click on the "Privacy" tab.
If you see a slide bar, move the bar to "Medium".
If you have customized settings, click "Advanced" and click "Always allow session cookies." Click OK.
Click "Apply" and then click "OK".
Microsoft Internet Explorer 5.x (Windows)
Select "Internet Options" from the Tools menu.
Click on the "Security" tab.
Click the "Custom Level" button.
Scroll down to the "Cookies" section.
To enable:
Set "Allow cookies that are stored on your computer" to "Enable".
Set "Allow per-session cookies" to "Enable".
Click "OK".
Microsoft Internet Explorer 4.x (Windows)
Select "Internet Options" from the View menu.
Click on the "Advanced" tab.
Scroll down to find "Cookies" within the "Security" section.
To enable:
Select "Always accept cookies".
Click "OK".
Mozilla Firefox (1.0 final release and earlier)
Go to the "Tools" menu.
Select "Options".
Select the "Privacy" icon in the left panel.
Select/Expand the "Cookies" section in the right panel by clicking on the "+".
Check the box corresponding to "Allow sites to set cookies".
Click "OK" to save changes.
Netscape 7.1/Mozilla 5.0
Select "Preferences" from the Edit menu.
Click on the arrow next to "Privacy & Security" in the scrolling window to expand.
Under "Privacy & Security", select "Cookies."
Select "Enable all cookies".
Click "OK".
Netscape Communicator 4.x
Select "Preferences" from the Edit menu.
Find the "Cookies" section in the "Advanced" category.
To enable:
Select "Accept all cookies" (or "Enable all cookies").
Click "OK".
Residency Requirements:
You must be at your current residence for at least one year or be able to show that you have lived in the area for at least three years. A job transfer with the same employer is treated as continuous residence for purposes of meeting this requirement. (Proof of relocation is required).
Employment Requirements:
You must have at least one year of continuous employment. The (1) year of employment can be no more than (2) jobs with no more than a 30-day job gap.
Income Requirements:
Minimum income is $1,600 gross per month for refinance applications. Alimony, child support, or separate maintenance income need not be revealed on your application if you do not wish to have it considered as a basis for repaying the credit obligation. Income may come from any of the following sources:
Full-Time
Overtime
Self-Employed or 1099
Military
Foster Care (as a Business)
Alimony (with court order & proof currently receiving)
Child Support (with court order & proof currently receiving)
Rental Property (with lease agreement and schedule E)
Salary
Social Security
Retirement
Second Job / Part-Time income (verifiable and worked minimum 1 year)
Permanent and Long-Term Disability (with award letter)
Short-Term Disability or Worker's Compensation
Pension/Annuity
Public Assistance Income
If you are self-employed you must submit the prior two years federal tax returns pages 1 & 2; a schedule "C" is required on both tax returns. HSBC will use line 31, from the Schedule "C", to calculate the average monthly income derived from self-employment.
Interest Rates:
Interest rates can range depending on the state in which you reside. Rates may change at any time. Each application is treated individually. Your rate will vary depending on your credit history, the term of your loan and any other applicable state and legal limitations. Click here for our current auto loan rates.
Bankruptcy:
Chapter 7 or Chapter 13 bankruptcies must be discharged. You cannot have multiple bankruptcies.
Documentation Required:
Each application varies. There is not an exact list of documents that might be needed for all applicants, but you may be asked to provide the following:
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Copy of current driver's license
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Agreement to provide insurance
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Personal references
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Pay stub with current year-to-date earnings
(If you are self-employed you must submit the prior two years Federal tax returns pages 1 & 2; a schedule "C" is required on both tax returns. HSBC will use line 31, from the Schedule "C", to calculate the average monthly income derived from self-employment).
What are the requirements to refinance my current vehicle?
We may not be able to refinance your current auto loan if you already have an existing account balance with HSBC or one of its affiliates secured by your current vehicle. Your vehicle must be 2001 or newer with a maximum of 80,000 miles.
Where can I find a notary for my refinance package?
Notaries can be found at a copy/shipping store or at one of HSBC, HFC or Beneficial branch locations.
Where can I find an HSBC, HFC or Beneficial branch?
For Beneficial, please click here
For HSBC North America, please click here
For HSBC Global, please click here
For HFC, please click here
What if I can't find my current insurance card for this vehicle?
Contact your insurance provider and fax a copy of your current insurance policy to 1-800-476-6165.
What if I can't find my original title?
Please contact your sales associate. HSBC will be able to request a duplicate title. However, there will be a fee for this service.
What if I can't find my registration card?
You can either use a copy of the renewal receipt or go online and obtain another copy through your local DMV.
What are acceptable forms of a pay stub?
A valid pay stub can be computer generated, non-computer generated, or a Military LES. It must be dated within the last 30 days and contain your year-to-date income & tax deductions as of a specific pay period.
What if I can't find my bankruptcy discharge letter?
You may be able to obtain a copy from the bankruptcy courts or from the original trustee that handled your case.
How do I find my Vehicle Identification Number (VIN)?
The VIN is a 17 character unique identifier of your vehicle (may be fewer characters for vintage autos). It can be located in the following places: on the car: dashboard by windshield; driver or passenger door or post (where the door latches); or steering column.
What vehicle types are ineligible for refinancing?
Commercial Vehicles, including the list of vehicles below:
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CHEVROLET TRUCK: Express CA; Express PA; Express C; C - Series
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DODGE TRUCK: Sprinter 2500 Chassis; Sprinter 3500 Chassis; Sprinter Van 2500; Sprinter Van 3500; Sprinter Wagon 2500
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FORD TRUCK: E- Series; E-150; E-250; E-350; E-450; Econoline; E1
What is HSBC's return address?
HSBC Auto Finance
Consumer Lending
5855 Copley Drive
San Diego, CA 92111
Where can I find the nearest DHL drop location to return my refinance loan package?
You can call DHL at 1-800-CALL-DHL or visit their website at www.dhl.com and click on the Find drop-off locations link. If your loan package was delivered to you via email, please see the instruction below on how to find the nearest FedEx drop location.
Where can I find the nearest FedEx drop location for the emailed refinance loan package?
You can call FedEx at 1-800-GO-FEDEX or visit their website at www.fedex.com and click on the Ship/Find Locations link.
How quickly can I expect a decision on my application and can I check online?
Most decisions will be available within one minute. Some decisions require a more detailed review. If your decision is not available within one minute and your application is submitted online during our normal business hours (Monday - Friday 6:00am - 7:00pm, Saturday and Sunday 7:00am - 7:00pm Pacific Standard Time), we can usually e-mail you a decision within one hour. If you submitted your online application outside normal business hours, we can usually get back to you by 12:00 noon, PST the next business day. Currently there is no way to check your application status online. If you do not get a response back within the above stated period, please contact an Account Executive at 1-800-922-4964.
How will I be notified of the decision on my application?
If you applied online, you will be notified via email of our loan decision. Whether you applied online or by phone, a HSBC representative will also contact you via email or phone to verify information on your application and explain the terms of your loan approval.
Will I be automatically approved if I already have a loan with HSBC?
Approval is not guaranteed. You must meet HSBC's current guidelines for approval.
How does the process work after being approved?
A HSBC account specialist will contact you once your loan has been approved by either email or by phone. For a refinance, you will also receive a loan package either by email or by mail for you to complete and mail back. When you have completed and returned your paperwork and all verifications are complete, HSBC will disburse proceeds of your loan in order to pay off your existing loan.
Once I receive the package, what should I send back?
The loan package will include a checklist and instructions of what needs to be completed and returned to HSBC.
There are several reasons why an application may be declined. HSBC is not able to give out that information to you over the phone, however a letter of explanation will be sent to you stating the reason for your declined application. The letter will include a phone number for the credit agency that provided your credit information.
The reporting agency played no part in HSBC's decision and is unable to specify the reason(s) we have denied credit to you. You have a right under the Fair Credit Reporting Act to know all of the information contained in your credit file at the reporting agency. Within 60 days of your decline notice, you may obtain a copy of your credit report at no charge by contacting Equifax or any other credit reporting agency that maintains files on a national basis. You have the right to dispute the accuracy or completeness of any information in your credit report by contacting the consumer reporting agency directly.
By taking a look at your credit report, you may be able to learn about your credit standing and understand why we cannot approve you at this time. You may even find errors in your credit report. Click here to obtain a complimentary copy of your credit report online from ConsumerInfo.com or go to Your Credit Counts for general credit information.
Why would I be denied if I already have a loan with HSBC?
In an effort to meet changing needs HSBC reviews and updates its guidelines, therefore existing customers may or may not qualify under existing HSBC guidelines.
Will my personal information be kept confidential?
HSBC understands the importance of handling customer information in a professional and confidential manner. We know that privacy is an important element of our customers' confidence in us and we understand that our customers expect us to collect and retain personal financial information responsibly. Click here for details on our privacy guidelines.
If I submit an application online, how secure will my information be?
In order to apply online, your browser must support SSL (Secure Sockets Layer) protocol (most browsers do). With SSL protocol, your application information will be encrypted prior to transfer to us, thereby providing you with an additional assurance of privacy and security. If your browser does not support SSL, you have the option to print out your application and fax it to us at 1-800-638-5480 or call us toll free at 1-877-367-4222 and one of our friendly processors will take your application information over the phone. Click here for additional security information.
