A Look at How Auto Financing Works

By Rich Butler | Posted in Uncategorized on Tuesday, November 17th, 2015 at 6:14 pm

A Look at How Auto Financing Works

Nothing beats the feeling of driving your very own car off of the dealership lot. When you visit the used car dealership in San Diego, you will have a fantastic selection of Chevrolet, Ford, BMW, Mercedes-Benz and Audi vehicles to choose from. In order to get them most out of your visit to the car dealership, it is important to consider how you will finance your vehicle purchase. Whether you decide to take out an auto loan from the bank or work with the dealership finance department, auto financing will help you drive the car of your dreams. Here is a quick look at how auto financing works.

Choosing a Financing Source

The first step of financing an auto purchase is to choose a source for your loan. Many banks and other financial institutions offer auto loans to their customers. Additionally, our car dealership also has a financing department. Dealership financing will allow you to complete your vehicle transaction under one roof.

Determining Your Rate

As you are shopping for a used car, you will also need to determine your auto loan rate. Your financing professional will look at factors such as your credit score and financial history. A lower rate will help you get a great deal on your car.

Making Payments

The final step of completing the auto financing process is to make payments towards the purchase of your vehicle. Typically, you will be responsible for a cash down payment in order to purchase your car. After you have made your down payment, you will have low monthly payments for the duration of your loan.

When you are shopping for used cars in San Diego, be sure to pay a visit to Siry Auto Group. Along with our fantastic inventory of used Dodge and Toyota models, we also provide fantastic auto financing services to our many satisfied customers. To learn more about the benefits of purchasing your next car from our dealership, call us at (858) 277-9077.

8 Responses to “A Look at How Auto Financing Works”

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