Vehicle Financing Options
Fully understanding your financing options before walking into a dealership has many advantages. Are you going to take out a car loan? Lease? Pay cash for your new vehicle? It can be extremely advantageous to have this decided before stepping foot into a dealership.
- If your answer is “I want to buy the car,” you will be asked to fill out a credit application. Based on your credit score, an auto loan will be arranged through your person bank or one of the dealerships approved lenders.
- If your answer is “I want to lease” you will still have to fill out a credit application and then multiple banks will be contacted with different terms and conditions for each one. You will have to choose the yearly mileage as well which typically ranges from 10k-18K a year. The higher the mileage, the higher your payment.
- Paying cash for your car? This is a very simple transaction. Decide on a fair price of the vehicle you are interested in and then write the dealer a check for that amount.
With so many options when it comes to financing your vehicle, do your research and find out what’s best for you. Don’t be afraid to ask questions, the team at the dealership is always willing to help.