When buying a new automobile at Patriot Auto Group, we’ll help you find the right car. We’ll also help you understand important finance terms like interest rate, loan, and cosigner so you can be confident our finance center gets you the best deal.
For many people, the “fun part” of car shopping is selecting the perfect GMC Sierra 1500 or certified pre-owned Chevrolet Equinox. The “not so fun” part is financing the new purchase. Rest assured though that the financing process at our local dealership is hassle-free and focused on getting you the best deal. An important part of this is ensuring you’re comfortable with the terminology, including words like:
When you buy a vehicle and finance it, we loan you the amount needed to cover the full price of the car. You then pay this loan back over an agreed-upon period.
Every loan has terms. For example, the agreed-upon payback period (usually 24 – 72 months), the interest rate, penalties for late payments, etc.
Whenever a financial institution loans you money, you must pay it back with interest. The interest on your car loan is expressed as a percentage that’s factored into your monthly car payment.
Sometimes obtaining a car loan requires the buyer to have a second person – typically a family member or friend – sign the loan and agree to cover any payments that the car buyer cannot.
Our Finance Department
Our finance department is friendly and knowledgeable, 100% focused on meeting your automotive and budgetary needs. We review everything with you during your purchase and answer any questions you might have. To make things easier for our customers, our dealership offers an online financing application that’s simple to complete. And soon after you submit your application, a team member will contact you to discuss your goals.
Get Fast, Fair Financing Today
Our dealers understand that automotive financing can seem complex and confusing. But our extensive experience, combined with our regular financing specials, will put you in a comfortable frame of mind. Contact us today and let’s find your next new car together.
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