Overview
Finance your vehicle purchase through Ekho's lending partners with competitive rates and flexible terms. Complete one application, receive offers from multiple lenders, and choose the loan that works best for your budget. The entire financing process happens online, from application to approval to signing documents.
How It Works
Ekho's financing process is designed to be simple and transparent. Start by choosing to finance and selecting your preferred loan terms. Submit your credit application with your financial information, and it will be sent to multiple lending partners. Lenders review your application and make financing offers, which you can compare side-by-side. Accept your preferred offer, complete any additional requirements the lender needs, sign your financing documents electronically, and make your down payment.
Choose to Finance
Select Your Payment Method
During checkout, choose between financing your vehicle or paying in cash.Check Financing Availability
The system determines if financing programs are available for your vehicle based on your location and the specific model. If financing isn't available, you'll see a message explaining why and can choose to pay in cash instead.
Note: Some vehicles or situations may not be eligible for financing through Ekho. You'll always know upfront if financing is an option.
Select Your Financing Terms
Estimate Your Credit Score
Select your credit score range from the dropdown menu. This helps determine your approximate APR and shows you realistic loan options.Choose a Loan Option
Pick from pre-set loan options: Pay Off Sooner (shorter loan term, higher monthly payments, lower total cost) or Pay Less Now (longer loan term, lower monthly payments, higher total interest). Or customize your own terms.Customize Your Terms
Adjust your loan to match your budget: move the monthly payment slider to set your target payment, adjust the down payment slider, and select your preferred loan term. APR and total cost update in real-time.
The terms you select here are your preferences — actual offers from lenders may vary based on their review of your application.
Apply for Financing
Note: Submitting a full financing application triggers a hard credit pull, which may impact your credit score. This is different from pre-qualification, which uses a soft credit pull with no impact to your score.
Enter Your Personal Information
Provide full name, date of birth, Social Security number, current address and housing status, phone number, email address, and your desired down payment amount.Provide Employment Details
Enter your employer name, employment address, income details, employment status, and how long you've been employed.Submit Your Application
Review your information and submit your credit application. Your application will be sent to multiple lending partners. By submitting, you're authorizing lenders to pull your credit report.
Wait for Lender Decisions
After submitting, lenders typically respond within hours to a few days. You'll receive email notifications when decisions are made. Possible outcomes include: Approved (financing offer with specific terms), Conditionally Approved (offer with additional requirements), More Information Needed (you'll be asked to call Ekho), or Not Approved (lender declines).
Review and Accept Financing Offers
View Your Offers
See all financing offers with lender name, APR, monthly payment, loan term, down payment required, total amount financed, total payment over the life of the loan, and any stipulations. Offers are sorted by APR from lowest to highest. We make a point to show the best offers that we receive from the lenders. But, in the event you are not happy with your offers, you may be able to add a co-applicant or show additional income for a better offer. Reach out to [email protected] if you have any questions about your terms or would like to add a co-applicant.Compare Multiple Offers
If you received more than one offer, consider not just the monthly payment, but also total cost over the life of the loan, APR and interest charges, loan term length, down payment requirements, and any additional lender requirements.Accept Your Preferred Offer
Click "Accept this financing offer" on the loan you want. This locks in your choice and starts the next steps with that lender.
Important: You're guaranteed financing at the accepted terms, provided you complete your purchase within 30 days.
Fulfill Lender Stipulations
Some financing offers require additional documentation or information before finalizing. Common stipulations include proof of income, proof of residence, or proof of insurance.
Review Required Stipulations
See a list of all stipulations the lender requires, including what's needed, a description of what to provide, and whether it's required or optional.Upload Documents
For document stipulations: read the title and description carefully, view example images if provided, upload required files (PDFs or images), and confirm uploads are clear and readable.Provide Written Responses
For information stipulations: fill out form fields, provide complete and accurate information, and submit your responses.Wait for Validation
The lender reviews what you've submitted and will either approve the evidence or request additional documentation. You'll receive an email if more information is needed.
Sign Your Financing Documents
Your financing document set typically includes the Truth in Lending Disclosure (federal disclosure showing full cost of your loan), Insurance Requirements, and other lender-specific documents.
Review Documents
Click "Review documents" to access your financing paperwork. The document signing session opens in your browser.Sign Electronically
Read through all financing documents carefully. Review each page, sign where indicated, initial required fields, and complete all signature requirements.Submit Signed Documents
After signing everything, submit your completed documents. The system confirms receipt and processes your signatures.
Note: Take your time reviewing financing documents. These are legally binding agreements.
Make Your Down Payment
Down payments are always paid via ACH/bank transfer. There are no processing fees, and payment takes 1-3 business days to process.
Connect Your Bank Account
Securely connect your bank account through the verification process to pay your down payment via ACH.Authorize ACH Payment
Review and authorize the down payment transfer amount.Wait for Payment to Process
Your ACH payment will process within 1-3 business days. You'll receive confirmation when the payment clears.
Lenders & Other Financing Options
Who finances my purchase?
Who finances my purchase?
Ekho works with multiple lending partners. The lender that processes your deal depends on your vehicle type and which of our partners can finance it.
Can I use my own outside financing?
Can I use my own outside financing?
Yes. You can choose to pursue outside financing through your personal bank, local credit union, or another financial institution. In that case, you'll complete your purchase with Ekho via credit card or ACH and work with that lender separately, outside the Ekho platform. Please note that Ekho does not list third-party lenders on titles and is not able to provide any assistance with procuring a third-party loan.
Troubleshooting & FAQ
How long does the financing process take?
How long does the financing process take?
Selecting terms: a few minutes. Completing application: 10-15 minutes. Lender decisions: hours to a few days. Stipulation fulfillment: hours to days. Document signing: 15-30 minutes. Down payment: 1-3 business days (ACH only). Most buyers complete financing within a few days to a week.
Will applying affect my credit score?
Will applying affect my credit score?
Pre-qualification uses a soft credit pull — no impact. Full financing application triggers a hard credit pull when submitted to lenders, which may impact your score. Multiple inquiries for the same purchase within 14-45 days typically count as one inquiry.
What if all lenders decline my application?
What if all lenders decline my application?
In the event that your application is declined, some options include paying in full via card or ACH, adding a co-applicant to strengthen your application, using Buy Now, Pay Later (Klarna) for qualifying purchases where available, applying for third-party financing through your own bank or credit union, or cancelling your order. Please note that Ekho does not list third-party lenders on titles. In the case that you are purchasing this vehicle from a dealer, the dealer may also contact you about alternative financing options.
Can I switch to a different offer after accepting one?
Can I switch to a different offer after accepting one?
Yes, before you've completed all requirements for your current offer. However, progress on the current offer (like uploaded stipulation documents) will be paused. Please reach out to the Ekho team if you'd like to switch to a different offer. Once you've finalized everything and the loan is financed, you cannot switch offers.
What are stipulations and why do I need them?
What are stipulations and why do I need them?
Stipulations are additional requirements from the lender to verify information in your application. Common stipulations include proof of income (pay stubs, tax returns), proof of residence, proof of insurance, and additional identification documents. Not all offers have stipulations.
How do I know if my stipulation was accepted?
How do I know if my stipulation was accepted?
If approved, the stipulation is marked as "validated." If insufficient, you'll receive an email asking for clarification or better documentation. You can check the status in your financing log. Review typically happens within 1-2 business days.
What if my final terms are different from my accepted offer?
What if my final terms are different from my accepted offer?
Small differences might occur if taxes or fees were updated, your financed amount changed due to adding protection, or the lender recalculated based on final verification. Contact Ekho support before proceeding if you see unexpected changes. You're guaranteed the terms you accepted for 30 days.
How long does my financing approval remain valid?
How long does my financing approval remain valid?
Lender approvals are valid for 30 days from the date of approval. If more than 30 days pass before completing your purchase, you'll need to reapply for financing.
How do I set up my monthly payments?
How do I set up my monthly payments?
After your loan is finalized, your lender will contact you directly with instructions on how to set up and begin your monthly payments.
When do I make my first monthly payment?
When do I make my first monthly payment?
Your first payment is typically due 30-45 days after your financing is finalized and you take delivery of your vehicle. The exact due date will be in your financing documents.
Is there a penalty for early payoff?
Is there a penalty for early payoff?
Early payoff terms depend on your specific lender and loan agreement. Please contact your lender directly about early payoff options and any associated fees.
Do I need insurance before completing a financed purchase?
Do I need insurance before completing a financed purchase?
Yes. If you're financing a road-legal vehicle, proof of insurance is required before the deal can be finalized. The insurance section of your buyer portal lists the specific requirements, including the lender's lienholder information, coverage requirements, and maximum deductible.
What is proof of lien, and why is it needed?
What is proof of lien, and why is it needed?
When you finance a vehicle, the lender is listed as a lienholder on the title. Some lenders require proof-of-lien documentation as part of the titling process. If this applies to your order, Ekho will notify you with instructions.