There have always been mixed feelings and missed communications about how and why to finance your vehicle. The truth is the vast majority of consumers don’t have the funds lying around to just pay for a new or used car. If you do…more power to you, but the rest of us need to consider the different ways to pay for a vehicle. On the Lease vs Finance page, we break down the difference and try to place customers in the smartest position for their budget. We have incredibly competitive financing options and would love to earn your business. Our automotive financing resources run deep and it is our hope that you can keep your main source of funds open for other areas of your life.

Things to keep in mind…Or Apply Now!

1. Down Payment will help you
As mentioned above, most of us don’t have unlimited funds and writing a check for a new $40,000 truck just isn’t an option. However, if you can come up with an appropriate amount of cash for a down payment you drastically reduce your monthly payments and the amount of money that you’ll pay in interest for the long haul. The standard rule of thumb for the appropriate down payment is 20%. A 48 month loan at 7% on $16,000 instead of $20,000 will cut off $600 off the total cost. $600 in interest savings is great, but you will also lower your monthly payments from around $475 to approximately $380. Using the equity from your trade in is another great way to build up your down payment.

2. Be familiar with your credit situation
Knowing your credit score can be extremely beneficial in knowing what to expect when financing a vehicle. If you have great credit and the capability of putting down money…you will be in the best position for a great APR. If your credit score is not flawless, and you’re worried or embarrassed about finding out, we understand. Bad things happen to good people and we work with all types of credit situations to help our customers out. If you’d like us to go to work for you, fill out our online credit application.

3. Bad Credit Beware
Don’t fall prey to the crazy advertisements about being able to finance anyone or the yelling and screaming messages about 0% on all vehicles and we guarantee approvals, etc. They are just not true and you don’t want to get trapped into a situation that could take YEARS to resolve. The truth will be much different once you set foot in their doors! It’s a shame that consumers have to weed through those types of messages, but that’s how some choose to do business.

4. Affordability Calculator

It should be called the Will Power Calculator. We all have wants that may exceed our budgets and if you can make your dream vehicle fit your budget…Do it! But if you want to shop the vehicles that fit into your budget, use our calculator to estimate what you can afford. By letting the tool know how much you want to pay monthly, the term you want and down payment amount, we can find a list of vehicles to match your criteria.

Back to Number 1: Cash now helps over the entire loan. The best way to save money on a new car is to have as much cash as possible at the point of purchase. The more cash you can pay up front will trim down your monthly payments, as well as the interest you will pay over the duration of your loan/lease.