Auto Finance San Jose

 

Know the Difference Between the "Bad" and the "Better" of Car Finance

Car finance can be a confusing topic for people. For just as many "great" finance resources, there seems to be just as many full of misinformation. However, when it comes time to purchase a new, or pre-owned car, finance may be necessary. Therefore it is important you understand the "bad" and the "better" options to auto finance San Jose to prepare you for your visit to the dealership.

Bad: Extended Loans

Frequently, when you are looking at auto finance San Jose products, you will see that extended loan options of 5, 7 or even 9 years offer you lower monthly payments. This is incredibly exciting to some consumers as the longer loan terms allow you to purchase cars that are more expensive.  However, when you work with your auto finance San Jose partner, you will see that a longer loan means paying more for the car in interest. 

Better:  Shorter Loans

When you need auto finance San Jose solutions, find a finance payment that meets your payment goals on a shorter loan limit. You may not be able to afford the same car as you would on a loan with a longer term, but you will save a pocketful of money in interest.

Bad: Financing Your Car Without Research

It can be incredibly convenient to show up at your preferred car dealer, pick your favorite car, apply for your auto finance San Jose loan and drive away with your new set of wheels. However, you may find that the car dealership may not automatically give you the best loan rate.  In fact, some dealerships only have auto finance San Jose partners that offer interest rates higher than what is industry standard. Shop around so you know what you qualify for and what going rates are.

Better:  Do Your Homework

Before you head to the car dealership, get online and learn what different types of auto finance San Jose products are available.  This allows you to arrive to the dealership pre-approved for a loan. When it comes to working with the in-house finance department, you can show what you qualified for and see if they are willing to match you rate.  In some cases, they may even beat it!  This means you save even more money in the long run, while also driving home your preferred new car!

Best: Talk with an expert

The best option is always reaching out and talking with someone from our auto finance San Jose department to learn about auto finance. Come with any questions and be prepared to answer some questions so our team and determine what type of financing you qualify for.  Visit us at Audi San Jose, located at 3350 Stevens Creek Blvd, San Jose, CA.  Or call us at 888-439-6179 to set up an appointment today.