If you haven’t shopped for used cars before, you may have some questions. One that we field often here at INFINITI of Columbus “Can I apply for financing?” The answer is yes!
You can place a down payment and take out a loan, just as you would with a new vehicle. Here’s how it works.
What to Know About Financing
If you decide to finance a used car, you need to first decide on a down payment. Usually, drivers put down around 20% and finance the rest, but if you want to pay more upfront that’s also an option.
Then you apply for financing. We look at your credit history, your income, and the price of the car to determine if you are likely to make your payments on time. The better your credit history, the better the interest rate, or APR, that you can usually secure.
Even if your credit history isn’t perfect, don’t worry. We work with a number of different lenders to help drivers find the financing that works for them. While you may not be able to qualify for some promotions and rates, we can still help you get the loan you require!
You should also know about the loan term. This is how long you have to pay off your vehicle. Five years is a popular pick these days, but you can also choose a longer or shorter term in some instances.
A longer term means lower monthly payments, but more interest paid over time. A shorter term has the opposite effect.
Apply Today!
So, if you’re in the market for a pre-owned luxury car that you can rely on, visit our INFINITI dealership serving Marysville, OH. We’ll make it easy to find a vehicle you love and applying for financing at our dealership is never a hassle. We look forward to assisting you!
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