In fact, banks typically see lending through a dealership like us as less risky compared to lending to a private party. Payment CalculatorĪbsolutely! We offer financing on all of our vehicles, both new and pre-owned. Check out our current lease offers today or contact us for more information. If you are interested in having the lowest possible down payment, taking advantage of our affordable or no money down lease specials may be your best option. If you are trading in a vehicle, the value of your trade-in will help cover most of, if not all, of your down payment. You don't necessarily need to have this cash on hand though. There is no harm in putting down as much as possible though, and we would suggest aiming for putting down around 20% to help lower your monthly payments.
It is recommended to put at least 10% down on the purchase of a new or pre-owned vehicle, but as little as $500 can be sufficient in many cases. In fact, we will even buy your car from you regardless if you buy a vehicle from us! We'll Buy Your Car This is one less thing you have to worry about when you trade in your car with us, versus selling it privately. In both cases, we will take care of paying off the lien holder and getting the title for your vehicle. If your car is worth less than what you owe, the remaining loan balance will simply be deducted from the value of your trade-in. There are a few things to still be aware of though. Trading in a financed vehicle is very common. BuyĬan I trade in my car that's not paid off? If you like driving a new car every two or three years, prefer lower monthly payments, or drive under 10,000 miles per year then leasing might be the best option.ĭo you want to keep your car for longer than three years? You should probably consider purchasing your next vehicle. Depending on your situation, one may be better than the other for you. One finances the use of a vehicle the other finances the purchase of a vehicle. Please contact 80 to determine the amount necessary to pay off your loan.Leases and loans are simply two different methods of automotive financing. The payment can be lowered if additional payments have been applied over the life of the loan, or increased if payments have been made after the due date. Note: It is common for the last payment to differ from the amount of the previous monthly payments. Note: If you cancel automatic payments or change the due date for your loan, you will automatically receive a new coupon book. You can either follow the prompts in the automated system or ask one of our customer service representatives for assistance.
If your coupon book is lost or damaged, you can order a new one by calling 80. The last payment is excluded as it may be a different amount from your regular monthly payment and it is important that you call us at 80 to receive the proper amount due. This coupon booklet will contain the details for each payment, except for the last payment, that will be due over the course of your loan. Once you have closed and signed your loan documents, a mailing containing your coupon booklet will be sent to the address you provided. If you pay more than the amount due each month, you will reduce the amount of interest you pay over the life of the loan because you’re reducing your principal loan balance and the interest is being calculated on this lower balance.Paying after the due date will lead to the principal balance staying higher than expected and thus additional interest being charged. If you pay later than the 5th of the month for any payment, the additional interest accrued will be collected first from your monthly payment, leaving less money to be applied to principal.If you pay $500 on the 5th of every month, your last payment will be $500.For example, if your payment of $500 was due on the 5th of every month for 48 months, there are several possible scenarios: On a loan that uses daily simple interest, the date you make your payments will impact the amount of interest paid over the life of the loan, and the amount of the final payment. It is calculated by multiplying the outstanding principal balance of your loan each day by the daily interest rate (the annual rate divided by the number of days in the year). Your interest is called “daily simple interest” and works just like its name. Financial Insights About Us Customer Service Online Banking Login Branch & ATM Locator Search.Additional Sources of Capital for Small Businesses.
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