Preparing to Use Dealer Financing From Largo Area Kia Dealers

Jul 11, 2013

If you intend to buy a car using dealership financing from Largo area Kia dealers, you will want to take a few steps to prepare for loan approval. From understanding your car shopping budget to checking your credit score and getting pre-approved for a loan, there are a number of things you can do to improve your chances of getting approved for dealership financing:

Understanding Car Loan Options

To ensure you are making a good decision about your car loan it is important that you understand the basic finance terms and requirements before you sign a contract for a car loan. It will give you the knowledge needed to negotiate your loan terms and get the best deal for your situation. Here are a few of the basics you should arm yourself with before going to the dealership:

The car loan “term” is the number of months you will make loan payments.
The “principal” is the amount of the loan needed to buy the car.
The “interest” is how much you will pay the lender for the privilege of borrowing money. (often referred to as APR)
Total loan amount is the principal and interest together at the end of the loan term.

Get Pre-Approval For a Loan

You can figure out what kind of buying power you have by filling out an online application for pre-approval. Pre-approval is a good way to find out what your credit is like, if you aren’t sure whether you have good credit or not. If you are pre-approved, you can come into the dealership with confidence to find a car and use our dealership financing. If you are not approved, you can spend some time improving your credit score or figuring out an alternative method for buying your next car.

Benefits Of Dealership Financing

Many people prefer dealership financing over other sources of car loans because it makes it a “one stop shop” experience for buying a car. You visit our St. Petersburg Kia dealership, choose a car, and fill out your loan paperwork at the same location. You can often drive the car home on the same day. The dealership financing department works with multiple lenders and can often find you a good deal even if other lenders have turned you down. Stop in to see us and we’ll see what we can do to help you out!