Auto Finance With Firkins Used Cars & Certified Pre-Owned Outlet
Are you ready to get behind the wheel of your dream car? Whether you want a new or used vehicle, you don’t have to pay the full price upfront. You can finance your car and pay it off in monthly installments. However, before you sign any papers, learning how auto financing works is important. Our Firkins Auto Group team has compiled a comprehensive guide to help you understand the basics of auto financing. We believe that buying a car should be an enjoyable experience.
What Is Auto Financing?
You may consider auto financing if you’re looking to buy a new or used car but don’t have the cash to pay for it upfront. Auto financing is like getting a loan, specifically for buying a car. It provides the necessary funds to purchase a car and allows you to repay the borrowed money over time.
You can get auto financing either through direct lending or dealership financing. With direct lending, you get a loan directly from a bank, credit union, or finance company. You commit to repaying the loan over an agreed period, with interest plus a finance charge. With dealership financing, however, you get your financing through a dealership. The contract is between you and the dealer, whereby you buy a car and agree to pay the amount financed plus a finance charge over a set period.
How Does Auto Financing Work?
If you’re interested in auto financing, follow a specific process. Here are the steps that you’ll need to take when applying for a car loan:
- Find your dream car: You can start by browsing our online inventory and finding the vehicle that suits your needs and preferences. You can filter your search by make, model, price, year, mileage, color, and more.
- Check the vehicle’s availability: Once you find a car that you like, you can check its availability and schedule a test drive at our dealership in Bradenton. If you have one, you can also value your vehicle and estimate how much you can save by trading it in.
- Apply for financing online: After you test-drive the vehicle and decide to buy it, you can apply online by filling out our secure and confidential form. You’ll need to provide personal and financial information, such as your name, address, phone number, email, income, and credit score.
- Get an offer: We’ll review your credit history, income, and expenses and present you with various financing options from our network of lenders. We’ll also explain the terms and conditions of each option, such as the interest rate, loan duration, monthly payments, down payment, and fees.
- Sign the loan contract: Once you agree to the financing terms, you can sign the loan contract and drive away with your new or used vehicle.
At the end of this process, you’ll also need to figure out how to repay the borrowed money. You’ll be required to make regular monthly payments to us until you pay off the loan. You can also refinance your loan or adjust the contract terms if your financial situation changes. If you want to see how much your monthly repayments will be based on various factors, consider using our auto finance calculator.
Bad Credit Auto Financing
A large number of Americans struggle with bad credit. According to a recent study, about 22% of American adults don’t have a credit score, and many others have a low one.
Bad credit is typically defined as having a credit score below 580. If you have bad credit, you have problems paying your bills on time, defaulting on loans, or filing for bankruptcy. These negative events can lower your credit score, making it hard to get a car loan from lenders.
That said, having bad credit doesn’t mean you can’t get approved for auto financing. You can still buy a new or used car with our dealership’s help. At Firkins Auto Group, we understand that your credit scores aren’t the only indicator of your ability to repay your loan. That’s why we offer auto financing for bad credit on a case-by-case basis. We’ll closely work with you to find the best financing terms for your situation without charging you exorbitant interest rates.
Advice and Where To Turn
While we do our best to help you get financing, there are things you can do to prepare yourself better before you apply for a car loan. Here are some tips you can follow:
- Check your credit score and credit report: By knowing your credit score and credit history, you can better understand what kind of loan terms you can expect and what areas you need to work on.
- Save up for a down payment: A down payment is an upfront payment for the car. It shows the lender that you’re serious and committed to buying the car and paying back the loan.
- Choose a car that fits your budget and needs: Look for a car that meets your transportation and lifestyle needs and your financial situation. Consider the car’s price, features, fuel efficiency, maintenance, insurance, and depreciation.
If you need advice or assistance with auto financing, you can turn to our friendly and knowledgeable staff at Firkins Auto Group. Our dealership has over 65 years of experience providing exceptional customer service and car-buying solutions to our customers across the Gulf Coast. We care about our community and customers, offering flexible financing options for all credit situations, including bad credit. Our team of financial professionals will work hard to help you find a car loan that suits your budget and needs.
Drive Your Dream Car Without Breaking the Bank
At Firkins Auto Group, we’re committed to providing you with the best car-buying experience possible. We want you to drive away with your dream car and a smile. We offer auto financing options tailored to your needs and budget. Don’t wait any longer, contact us today. You can book a test drive or talk to our friendly staff about our financing services. We’re here to help you get the car of your dreams.
