Fast Track Auto Sales is a used car dealership, not a financing program
Fast Track Auto Sales is a used car dealership that operates in multiple states and specializes in selling vehicles to buyers with poor credit or no credit history. The company finances many of its own sales rather than requiring you to bring outside financing, which is why it appears in searches about buying used cars with credit challenges. However, Fast Track is a private business, not a government program or non-profit — you are buying a car from them at their prices and terms, not receiving information.
If you are looking at Fast Track, you are likely comparing it to other used car dealers in your area. This guide explains how their model works, what to watch for, and what questions to ask before you sign anything.
Key Takeaways
- Fast Track finances many sales directly, meaning they lend you the money to buy the car and you repay them — this is not a subsidy or discount, it is a loan at their interest rate.
- Their prices and loan terms vary by location and by the specific vehicle, so you need to compare their offer against other dealers and banks in your area.
- In-house financing often means higher interest rates and stricter payment terms than a bank loan, so read the contract carefully before signing.
- You can walk away from any dealership at any time before you sign the final paperwork — do not let pressure or time constraints rush you into a deal you do not understand.
How Fast Track's in-house financing works
When a dealership offers in-house financing, it means the dealership itself lends you the money to buy the car, rather than you getting a loan from a bank or credit union first. Fast Track uses this model because it allows them to sell to buyers who cannot get approved for traditional bank loans. You make monthly payments to Fast Track, not to a bank.
In-house financing typically comes with a higher interest rate than a bank loan would, because the dealership is taking on more risk. The dealership also sets the terms — how long you have to pay, what happens if you miss a payment, and whether you can pay it off early without penalty. These terms are negotiable, but only before you sign the contract.
The car itself is collateral for the loan, meaning Fast Track holds the title until you pay off the full balance. If you stop making payments, they can repossess the vehicle. This is standard for car loans, but it is important to understand before you commit.
What to compare before you buy from Fast Track
Fast Track is one option among many. Before you decide to buy from them, get offers from at least two other used car dealers in your area and check whether you can get a loan from a bank, credit union, or online lender. Even if your credit is poor, some credit unions and online lenders will work with you, and their rates may be lower than what a dealership offers.
Write down the following for each option: the vehicle price, the interest rate, the loan term (how many months), the monthly payment, and any fees (documentation, dealer prep, extended warranty). The monthly payment is what matters most to your budget, but the total interest you pay over the life of the loan is what matters to your wallet. A longer loan term means a lower monthly payment but more total interest paid.
Also check the vehicle history report (Carfax or AutoCheck) for any vehicle you are considering, whether from Fast Track or anywhere else. This costs about $25 and tells you whether the car has been in accidents, had title problems, or had major repairs. Do not skip this step.
Reading the contract before you sign
The contract is the legal document that binds you to the loan. Fast Track will present you with a purchase agreement and a loan agreement (sometimes combined). Before you sign, read every page and every line. If anything is unclear, ask the salesperson or manager to explain it in writing.
Pay special attention to: the total price of the car (including any add-ons or warranties), the interest rate, the loan term, the monthly payment amount, the due date for each payment, what happens if you are late, whether there are penalties for paying off the loan early, and whether the dealership is selling you an extended warranty or service contract (which you may not need and can often decline).
If the contract includes a warranty or service plan you did not agree to, cross it out and initial the change before you sign. Do not let the dealership tell you that you have to accept it. You have the right to refuse add-ons, and refusing them lowers your total cost.
Red flags and common problems with in-house financing
In-house financing at any dealership can come with practices that hurt you. Watch for: interest rates above 18% (which is legal but very expensive), loan terms longer than 72 months (which means you pay far more in interest), payment amounts that seem too low (which usually means the term is very long), pressure to sign the same day you visit (legitimate dealers give you time to think), and add-ons you did not ask for bundled into the price.
Some dealerships also use a practice called yo-yo sales, where they let you drive the car home and then call you days or weeks later to say the financing fell through and demand you return it or sign new terms. This is illegal in many states but still happens. Before you leave the lot, confirm in writing that the financing is final and approved.
If you miss a payment, contact Fast Track when ready. Do not ignore the bill. Depending on your contract, one or two missed payments can trigger repossession. If you are struggling to pay, ask whether they offer a payment deferment or restructuring — some dealerships will work with you, but only if you ask before you fall behind.
Your rights as a buyer
You have the right to walk away from any dealership at any time before you sign the final paperwork. If a salesperson is pressuring you, that is a sign to leave and shop elsewhere. You also have the right to take the contract home and review it before signing, though not all dealerships will allow this — if they refuse, that is another sign to shop elsewhere.
Once you sign, you have a limited window (usually three days in most states) to cancel the purchase if you change your mind. This is called a right of rescission, and it varies by state. Check your state's consumer protection laws or ask the dealership directly what your cancellation rights are. Get the answer in writing.
If Fast Track misrepresents the vehicle (for example, claims it has no accidents when it does, or hides mechanical problems), you may have grounds to return it or sue for damages. Keep all paperwork, take photos of the vehicle's condition, and document any problems that appear shortly after purchase.
Alternatives to consider
If Fast Track's terms do not work for you, explore other routes. Credit unions often offer used car loans at lower rates than dealerships, even to people with poor credit — you do not have to be a member of some credit unions to borrow from them. Online lenders like LendingClub and Upstart work with lower credit scores. Some banks have used car loan programs specifically for people rebuilding credit.
You can also buy a used car from a private seller and finance it separately through a bank or credit union. This often results in a lower purchase price, though you lose the (limited) protections that come with buying from a dealer. If you go this route, still get a vehicle history report and have a trusted mechanic inspect the car before you buy.
Frequently Asked Questions
Can I pay off a Fast Track loan early without a penalty?
That depends on the contract. Some dealerships charge a prepayment penalty; others do not. Before you sign, ask the manager whether early payoff is allowed and whether there is a fee. Get the answer in writing on the contract itself so there is no dispute later.
What if the car breaks down a week after I buy it?
Fast Track may offer a warranty, but read what it covers before you buy. Most dealer warranties cover only certain parts for a limited time. If the car breaks down and is not covered, you are responsible for repairs. This is why a pre-purchase inspection by a mechanic is important — it can catch problems before you buy.
What happens if I miss a payment?
Contact Fast Track when ready. Missing one payment usually triggers late fees and may damage your credit. Missing multiple payments can result in repossession of the vehicle. Some dealerships will work with you on a payment plan if you call before you fall behind, but do not wait.
Is Fast Track financing better than a bank loan?
Not necessarily. Fast Track's main advantage is that they may approve you when a bank will not. But their interest rates are usually higher. Compare the total cost (price plus interest) against what a bank or credit union would charge before you decide. Sometimes the bank option is cheaper even if the monthly payment is higher.
Can I return the car if I change my mind?
Most states give you a three-day right to cancel a car purchase, but the rules vary. Ask Fast Track what your cancellation rights are and get the answer in writing. After the cancellation period ends, you are stuck with the car and the loan unless the dealership agrees to take it back.