Tips for Financing a Car

financing a car

Most car shoppers choose to take out a car loan to pay for a new car. However, many don’t understand all the details of the process. Here are a few tips on financing a car the smart way.

  • Know your credit. Your ability to get a loan relies almost solely on your credit. Make sure you know your credit well enough that you aren’t surprised (in a bad way) by the offers you get.
  • Shop around. If your credit is not stellar, consider doing some loan shopping online to see what rates you can get. You can also apply here at Route 44 Hyundai and we will work to find you the best rate.
  • Go short term. The length of a loan is called the term and it is listed in months—60 is the most common. By choosing a loan with a shorter term, your monthly payment will be higher, but you will save on interest in the long run.
  • Have a big down payment. With a larger down payment, say 20% or more, you can reduce the total amount financed. This will help you to avoid owing more than the car is worth.

With a little bit of preparation, you can finance the car you want in the cheapest way possible. Visit Route 44 Hyundai’s online financing center for more information!

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