Here at Acura of Peabody, we try to make the car buying process as easy and as stress-free as possible. We’re ready to answer all of your questions and our Acura dealers have the experience needed to keep things running smoothly. One factor that can confuse a first-time buyer is the financing process. If terms like APR are unfamiliar to you, we can help.
There are a few things that determine how much you pay for your car each month. First, you need to make a down payment on your car. If you have a trade-in vehicle, its value can contribute a significant amount to this initial payment. Making a larger down payment means that you need to finance less of the total car cost, which can be a good idea for drivers with lower credit scores.
That’s because your credit score determines your interest rate, or APR. Whether you’re buying a new 2017 Acura MDX or one of our dependable pre-owned models, drivers with a better credit score can qualify for a lower financing rate. Another factor that can determine how much you pay over time is the length of your loan term. A longer loan term can mean lower monthly payments, but you might end up paying more in the long haul.
Our Acura dealership serving North Andover makes financing easy. We offer tools on our website that let you get a head start before you even visit us. Apply for financing online, value your trade-in vehicle, and calculate payments before you even come in for a test drive. It’s important to know how much you can afford, and the useful tools on our website can help you do that. So contact us today. We can’t wait to help you with all of your Acura financing needs!