January 16th, 2020 by

As folks all across the country are making resolutions and setting goals for new year, Joseph Buick GMC near Hamilton wants to share a few tips about vehicle financing. Whether you have your eye on a brand new Buick Encore or thinking about going with a pre-owned truck or SUV, there are a few key elements to keep in mind with an auto loan:

Know your credit score. While it’s generally a good idea to be aware of your credit history anyway, knowing your credit score before you start looking for a car will give you an idea of what kind of interest rate you may be facing. A higher score tends to earn a lower interest rate.
Determine your down payment. The more money you’re able to put down on your car of choice, the less you’ll need to finance. Down payment money can come from the cash saved, trading in your existing vehicle, and sometimes even manufacturer incentives.
Go ahead and shop around. Our Buick finance center near Hamilton hopes to be your source for vehicle financing. Still, we also believe in transparency, which is why we’re not afraid to encourage our customers to shop around for financing quotes. Speak with your bank or credit union. Then, do a bit of online research in addition to letting our team see how we can help you.
Know your terms. Auto loans vary in both length and structure. A shorter-term loan, like 36 months, will probably come with higher monthly payments, but this means you’ll be paying on your car for less time overall. Anywhere from three years to six years are common terms for vehicle financing.
For more financing tips, get in touch with the team at our Buick finance center at Joseph Buick GMC today!

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