Used Car Financing Tips

USED CAR FINANCING TIPS


Used Car Financing Tips for Drivers In Orlando, FL

For most used car buyers, the final stop on the car buying journey is the finance department. Though Central Florida Toyota makes financing as easy and as seamless as possible, it is wise to begin the auto buying process with a leg up. With that, you can follow a few steps to arm yourself before you head into the dealership. These steps include: knowing what your credit score is before you apply for a loan, research lenders to find the best rate (Central Florida Toyota offers great rates, mind you), compare different financing offers, and then apply for the loan. 

If you are interested in a used car, and plan on financing your purchase, then Central Florida Toyota is the place to go. We offer daily low prices, and we help you save money on your car loan, as well. We strive to make the process as simple and as straightforward as possible. 

Understanding The Financing Process

Before you begin the car buying process, you need to know your credit score. A credit score is a number from 300 to 850. Your score is based on three major credit reporting bureaus: Equifax, TransUnion, and Experian. Lenders look at a variety of factors, including your income, employment history, debt-to-income ratio, your credit application history, and payment history.

Following that step, you need to research lenders. You can find lenders at large national banks, credit unions, community banks, and finance companies. 

Keep in mind that while a longer repayment plan sounds enticing with the lower monthly payments, it is one of the riskiest finance moves that you can make. Long loans mean higher interest rates, and you risk having your car depreciate faster than you can pay it off. 

Finance Your Vehicle at Central Florida Toyota

With an excellent inventory and a knowledgeable staff, Central Florida Toyota is the one dealership in the Orlando area that can provide all your automotive needs within a hassle free environment. We pride ourselves on our ability to make the process as smooth and as pain free as possible. Come in today and experience what we are all about.