Finance Guide
Good questions. Clear answers.
Understand the numbers before you decide.
Buying a vehicle comes with a few decisions. We’ll help you compare your options, understand the paperwork, and choose a plan you feel comfortable with.
Finance or lease?
Financing means borrowing to buy the vehicle. After the loan is repaid, you keep it. Leasing gives you use of a vehicle for an agreed term and mileage allowance, with return or purchase options defined by your agreement.
Consider how long you’ll keep it and how much you drive. For a lease, review mileage, wear, early termination and end-of-term charges. Compare buying and leasing.
Look beyond the payment.
The interest rate describes the interest charged on the loan. APR includes interest and certain fees, expressed as a yearly rate. The term is how long you’ll repay the loan.
A longer term can lower the monthly payment while increasing total interest. Compare the amount financed, APR, term and total payments together. Our payment calculator can help you explore an estimate.
TOTAL due at delivery.
Your down payment is only one part of the conversation. Ask for the complete amount you’ll need at delivery and an itemized explanation of taxes, fees and any other charges. Understand what you’re paying upfront and what is included in the financing.
Trade value and payoff.
A trade’s value and its loan payoff are separate numbers. Value above the payoff is positive equity. If the payoff is higher, the difference is negative equity.
We’ll explain how both affect your transaction. If negative equity is included in a new loan, it increases the amount borrowed and can add interest costs, subject to lender approval.
Optional products.
GAP coverage may address a difference between an insurance settlement and an outstanding loan balance after a covered total loss or theft. Limits and exclusions apply.
A vehicle service contract may cover specified repairs; it is separate from the manufacturer’s warranty. Review the price, coverage, exclusions, deductible and cancellation terms. Ask how any optional product changes your payment and total cost.
Take time for the final review.
Check the vehicle price, itemized charges, trade value, payoff, cash due, amount financed, APR, term and optional products. Make sure the agreement matches what you discussed. If something is unclear, ask us before signing.
Let’s work through it together.
We’d love to earn your business.
General information, not a financing offer. Financing and leasing are subject to credit approval. Terms, eligibility and product coverage vary. Ready to begin? Apply for financing.