If you plan on purchasing a new vehicle at Wilson Chevrolet in Stillwater, chances are you’ll need to finance it. We strive to make financing a new vehicle as hassle-free and stress-free as possible, but we know that it’s a big step to take. The best way to make sure that you’re ready to finance a vehicle at Wilson Chevrolet is to educate yourself on the process beforehand.
What’s the difference between a loan and a lease?
If you choose to lease a vehicle, you won’t own it at the end of your contract. Rather, what you pay over the life of your lease goes toward the depreciation and use of the vehicle, which is why it costs less per month than financing. Leasing also means that you have restrictions when it comes to how many miles you can drive and how you can modify the vehicle.
When you finance a vehicle, it’s all yours at the end of the loan term. Your auto loan covers the full balance of the vehicle as well as interest and associated fees. When it’s paid off, you’re free to customize it as you wish, and the title goes to you.
When you finance a vehicle, it’s all yours at the end of the loan term. Your auto loan covers the full balance of the vehicle as well as interest and associated fees. When it’s paid off, you’re free to customize it as you wish, and the title goes to you.
What does it mean to get pre-approved?
Pre-approval means that your credit score has been verified before you even arrive at the dealership. Taking this step if you’re serious about financing a car is a wise choice because it gives you a better idea of how much you can borrow toward the purchase of your vehicle. What’s more, it’s an easy and quick process to complete, and it doesn’t lock you into any commitment with a lender.
Do I need to know my credit score?
It's a good idea to know your credit score ahead of time. Knowing your credit score before you begin the auto financing process lets you know what you can and can’t afford. You can check your credit history for free on a number of websites and get your credit score from a trusted financial provider; this information is handy to know at any time, but it’s especially helpful if you’re lining up a big purchase, like a car.
A good credit score is 690 and above on the 850-point scale. If your credit score is within that range, you should have no trouble financing a new vehicle from Wilson Chevrolet. If your credit score is under this mark, try taking steps to build your credit first. This includes paying off credit card debt, making payments on time, limiting the number of open and new credit accounts you have in your name, and minimizing your hard credit inquiries.
If you have questions about how to finance a new car in Oklahoma, Wilson Chevrolet has answers. Call or email our finance experts with your questions and concerns and we’ll do our best to put you on the path to owning the vehicle of your dreams.
A good credit score is 690 and above on the 850-point scale. If your credit score is within that range, you should have no trouble financing a new vehicle from Wilson Chevrolet. If your credit score is under this mark, try taking steps to build your credit first. This includes paying off credit card debt, making payments on time, limiting the number of open and new credit accounts you have in your name, and minimizing your hard credit inquiries.
If you have questions about how to finance a new car in Oklahoma, Wilson Chevrolet has answers. Call or email our finance experts with your questions and concerns and we’ll do our best to put you on the path to owning the vehicle of your dreams.