Auto Financing in Duluth, GA
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Here at Rick Hendrick Buick GMC, we understand that the financial aspect of car shopping can be challenging. There are so many options in terms of loans and leases, lenders, and rates - how do you know what’s best for you? Luckily, when you shop with us, you are not alone in the process. Our auto finance experts are here to help you from start to finish. Whether you are shopping for a brand-new Buick, a shiny GMC vehicle, or want to sift through our used cars for sale, we are here to help you navigate all things money.
What Are the Different Ways to Pay for a Car?
There are multiple ways to pay for your new or new-to-you vehicle, and it is important to take the time to fully understand each one. Of course, the first option is to purchase the vehicle in cash, with money from your own bank account. This can free you from making monthly payments and worrying about interest on a loan. That said, paying in cash is not a realistic option for most people; spreading out the cost of a car over monthly payments makes it much more affordable.
The most common way to pay for a car is with an auto loan. Vehicle financing takes the cost of the vehicle and breaks it down into monthly payments typically paid over the course of 48, 60, or 72 months. There is also interest tacked onto the loan, but rates will vary a bit depending on the current market and your credit history. Once you have made all of the payments on your car, the lien will be released, and you will receive the vehicle’s title - you will fully own it.
Perhaps you want to finance your next car, truck, or SUV - but not the entire purchase price. There are ways to accomplish this as well. One common approach is to put a downpayment on the vehicle, bringing down the final loan amount. However, there is another option that will not take any money out of your wallet: you can trade in your current ride. The value of your vehicle trade-in will be dependent upon its make, model, year, and condition. You can get a quick estimate on our site, or come in for an official appraisal. All in all, there are many ways to pay for your new car, from paying outright, to loans and vehicle trade-ins.
Is it Smart to Finance a Car?
Despite some common beliefs, it is smart to finance a car. Limiting your vehicle options to those you can afford to pay for out of pocket may prevent you from getting something safe and reliable. When you take out a loan, you expand your options, allowing you to purchase a better vehicle. Plus, you will be more likely to purchase from a dealership that will provide a full history report on the car, rather than a less-than-reputable self-seller. All around, financing your next vehicle is a win-win.
How Hard is it to Get Approved for a Car Loan?
Getting approved for a car loan is not as hard as some people may think. While your creditworthiness and income do play a significant role in your approval odds and potential rates, there are tons of options out there. Our experts will work tirelessly to find a loan that you are qualified for and that satisfies your needs - whether you have years of credit history or none at all. And our loans are not just for purchasing a new or used car. We work with numerous lenders, one of which is Ally Financial, offering vehicle service loans. That’s right, you can even get an auto loan for your service and repair needs because at Rick Hendrick Buick GMC we never want money to get in the way of your transportation.
Is it Ever a Good Idea to Lease a Car?
Another alternative to buying or financing is leasing. Many people find that leasing is a great solution for their needs. Leasing often comes with lower monthly payments than financing and even warranties that cover routine maintenance on the vehicle. A car lease can certainly be cost-effective. Plus, when you continue to lease over the years, you can consistently have a newer model with the latest technology and upgrades.
That said, leases do have some restrictions. First, you are limited to the number of miles that you drive during the term of your lease. So if you have a long daily commute or want to take a road trip, a lease may not be the best option for you. And if you are interested in customizing your vehicle, you will need to buy because most lease agreements will not allow you to make modifications. Ultimately, a lease is a great choice for some drivers and less ideal for others. It all depends on what your vehicle needs are.
Visit Rick Hendrick Buick GMC Today!
If you are in the market for a new vehicle, there is no option better than Rick Hendrick Buick GMC. Not only do we have a vast selection of new and used cars, trucks, and SUVs, but we also have dedicated finance and auto service professionals to ensure all of your needs are met. When you work with us, you become a part of our family. So contact us or swing by the dealership today! We cannot wait to meet you.