Sometimes, sometimes not. If you have already found your vehicle to purchase, we can set up financing right away and you won't need a pre-qualification letter. However, if you get pre-qualified and then shop around for vehicles, we'll send you a pre-qualification letter to bring to dealerships. Some dealerships may also contact us to confirm financing as a business practice.

Your pre-qualification offer is typically valid for 60 days with Magnifi Financial. If we have not heard from you about purchasing a vehicle within those 60 days, then your loan application will be closed and you will need to reapply if you decide to obtain financing after the expiration date.

That's great! Go ahead and fill out an application and we'll help you get the financing together as quickly as possible. If you are working with a dealership, we'll just need the Purchase Agreement and Insurance Card. Our lending staff will help walk through everything with you to get you on the road faster.

We have several methods for you to make your loan payments:

• Magnifi Digital Services or Mobile App: Transfer funds from your Magnifi or external checking/savings account into your loan account.
• Online: Use our online loan payment system to set up a single or recurring payment with your debit/credit card or routing/account number.
• Mail: Send a check to PO Box 325, Sartell, MN 56377. Please include your Account Number and Loan ID. You will not receive a payment receipt by mail but you can verify the transaction within your Digital Services account.
• Branch: Visit any Magnifi location to make a payment.

If you make larger or additional payments on your vehicle loan, you'll pay down the principal, so you pay less interest over the life of the loan and can pay off your loan faster. However, this does not advance your due dates. Meaning, if you make twice the payment amount in one month, you will still need to make a payment on the same due date the following month.