The Automobile Buying and Financing Process

The Automobile Buying and Financing Process

When you are buying your first vehicle in Lynnwood, WA it can be a little bit of a scary world. So much information exists out there, and it can certainly be overwhelming knowing what to believe and what to do. Fortunately, this handy first time car buyer loan guide is here to help save the day!

What is Financing?

If you are looking into automobile buying and financing, you absolutely must understand what a finance is. You could, in some ways, compare it to a mortgage. You have the total amount of the car minus your down payment, and the remaining amount is divided up into monthly payments over a specific number of terms. In addition to the remaining amount of the car's sticker price, you will also have to pay interest rates on a monthly basis.

Is Buying a Car with 0 Down in the Seattle Area a Good Idea?
Just because you don't have the money for a down payment it doesn't mean that you can't buy a new or used vehicle, especially with our help.

How to Get an Auto Loan with No Payment for 90 Days
When you need help getting a car loan without making a payment being made for 90 days you will have to know exactly how to approach the process.

How to Use 500 Dollars Down to Finance a Car in Tacoma, WA
Making a low down payment can also be used to get easy auto financing, even if you're making a $500 down payment.

What to Expect From 84-Month Auto Loan Terms
If you are looking for manageable monthly payments you should consider applying for an 84 month auto loan term to help expand your payments today.

How Much of a Down Payment Do I Need?

Many Lynnwood residents ask this question when they are financing their first vehicles. It's a difficult question because not one right answer exists. It is going to depend upon how expensive the vehicle is that you want to purchase, how high or low your credit scores are and if you want to finance a brand new vehicle or one that has already been used. Speaking with a financial adviser can help to give you a better sense of the answer to this question for you.

How Do I Get Approved?

Well, the first step is to go for a pre-approval with help from the services found on Dougs Credit Center. Doing so will relieve some of the stress that you have, and it will help you to better understand for how much of a car loan you can get approved. Once you have the pre-approval statement, then you can go to the dealership. It's always smart to go in with an idea of the cars you want to look, how much you are willing to spend and what the comparable prices are at other dealerships in the Lynnwood region.

Buying and financing a car can be scary if you do not use the following information to your advantage:

  • You must understand exactly what bad credit financing is and what it entails.
  • You should have an approximate idea of how much of a down payment you need to save up.
  • You should first get pre-approved and then move on to the dealership with the appropriate information.

Completing these steps will bring you so much closer to the car loan you want.

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