Financing a vehicle is one of the bigger purchases most of us make. Our finance team put together these tips so you can walk in prepared and drive out confident.
1. Know Your Credit
Your credit score has the biggest effect on your interest rate. Check your report for errors before you shop. Not perfect? We work with over 40 lenders, including programs for first-time buyers and rebuilding credit.
2. Set a Budget You Are Comfortable With
Many shoppers aim to keep the total vehicle payment, insurance and fuel within 15–20% of take-home pay. Try our payment calculator to see how price, term and rate change your payment.
3. Put Money Down
A larger down payment – cash or trade equity – lowers your payment, can lower your rate and protects you from owing more than the vehicle is worth.
4. Choose the Right Term
Longer terms lower the payment but increase total interest. Shorter terms build equity faster. We will show you both so you can decide.
5. Consider Leasing
Leasing offers lower payments and a new vehicle every few years; buying builds ownership. Read Buying vs. Leasing for the details.
6. Protect Your Investment
- GAP coverage pays the difference between your loan balance and the insurance payout if the vehicle is totaled.
- Extended service contracts help cover repairs after the factory warranty ends.
- Insurance – contact your agent before you pick up your vehicle; lenders require full coverage.
Ready? Apply for financing online.
