Choose Your Used Car Financing with Empowering Information

Often times, people in Falmouth make a decision without the pertinent information when financing their used car, but we can help you avoid that mistake.

When you complete a credit application, all of the information you provide will be used to make the financing decision by the lender. Your creditor will be the financial institution that actually lends the money for your used car purchase. It's better to have a debt-to-income ratio below 50 percent; however, most lenders prefer a 35 percent debt-to-income ratio.

A down payment is the amount of money that you choose to put towards the purchase price of the vehicle. This amount also adds equity in the vehicle. Equity is the value after the loan is subtracted from the outstanding balance. Finally, be sure you're in agreement with the details before signing the contract!

Contact Morong Falmouth Audi for any questions and be sure to choose us for your used car financing!

 

 

Categories: Finance