FAQ

What is the insurance requirement on an Automobile?

Globe requires the consumer to maintain comprehensive and collision insurance with a deductible of no more than $500 until the loan is paid in full.

Do I have a grace period for my due date?

No, your payment is due by your due date. (i.e. if your due date is the 1st of the month, then we must receive your payment by the 1st of each month). The late charge will not be assessed until after you are 10 days past due, but there is no grace period for your due date.

What happens if I am unable to pay by my due date?

Please call us if you are having or are going to have difficulty making any payment on time. Globe may be able to help you in many ways, such as: refinancing or extensions.

If I am approved how long will it take to get the proceeds?

You could receive the proceeds the same day you apply if we have the proper documentation. Please see our Required Documents page for further explanation.

What are the consequences of not paying my loan on time?

Your vehicle (if applicable) may be subject to repossession. Your credit will be damaged as we report to one of the national credit bureaus each month. This makes it difficult to purchase and finance vehicles or homes in the future. We may also file a lawsuit and collect your outstanding balance including any court or collection costs by garnishing your assets. This may include your wages.

Can I pay my loan off early?

Yes, you can pay your loan off early without penalty.

Are there any vehicles Globe will not finance?

We finance all types of vehicles and do not exclude any type specifically. We may judge certain vehicles on a case by case situation such as: branded or salvaged titles, commercial or business use vehicles, and recreational vehicles.

Is my loan assumable by another party?

No, your loan is not assumable by another party.

Does Globe do commercial loans?

Yes, but on a case by case situation.

Can I change my due date?

Yes, Globe allows you to change your due date once during the term of the loan by no more than 15 days.