ACCELERATE YOUR AUTO PURCHASE: INSIDER TIPS FOR DEALER FINANCING

You found the perfect vehicle, and now it’s time to finance. Don’t delay the joy of riding off in your new vehicle by waiting for an auto loan approval. Instead, experience the perks of dealer financing; test drive, apply for a loan, and purchase your new ride all in one convenient stop. Shopping around for an auto loan through a bank or other lender takes time. Accelerate the process by financing directly through your local dealership.

Take advantage of dealer financing for convenience, quick approval times, expert guidance, dealership deals, and more. Let’s explore how to save time and money by financing through your local dealership. Don’t delay, the open road is calling!

CHECK YOUR CREDIT SCORE

Before heading to the dealership, it’s important to understand your credit. Lenders use your credit score to determine whether you are a low-risk or high-risk borrower. The better your credit history, the less likely you are to default on a loan, and therefore the better the rates you qualify for. You can still qualify for a loan with a lower credit score, though it may result in higher rates. If your credit score is less than ideal, you may want to work on repairing your credit before applying for a loan. Correct any mistakes on your credit report, make payments on time, and work on paying down your debt.

If you need a vehicle immediately and waiting to repair a poor credit score is not an option, dealer financing tends to be more flexible than traditional lenders. With a bank, if your credit score is too low, you may not qualify for the loan. Fortunately, since it’s in the dealerships’ interest to keep your business, they are typically more willing to work with low credit scores.

Either way, knowing your credit history beforehand focuses your budget so you know how much car you can afford and which rates you can expect.

SET A REALISTIC BUDGET

Once you know your credit score, work on creating a budget you can comfortably afford. This should include the price of the vehicle as well as maintenance costs and repairs. Look at your monthly income, expenses, and debt to determine how much you can set aside each month to cover car-related costs.

Your budget should not stretch your finances. Rather, it should be an amount you can easily afford while being prepared for unexpected costs or emergencies. Once you have a clear budget, look for vehicles within your price point. Use this budget as you browse dealership inventory online or in person. An experienced auto sales representative can use this number to help you find the best deals and vehicles for your budget.

VISIT YOUR LOCAL DEALERSHIP OR SEARCH INVENTORY ONLINE

Now that you understand your finances, it’s time to have fun searching for the perfect vehicle. Many dealerships showcase their full inventory online. Begin searching available inventory online and research which models check all the boxes. Are you looking for a sporty car with maximum performance or a family vehicle with extra passenger seats and cargo space? Make a list and refine your wish list.

If you don’t have time to visit your local dealership in person, you can buy at home with Ingram Park Nissan. Shop, drive, and buy a new Nissan without ever leaving your house. You can get real pricing, review lease and financing options, and execute agreements online, all from the convenience of your home.

Or, if you prefer, visit our showroom in person and talk with one of our many specialists for expert guidance. Vehicle specialists understand the inventory and can direct you to the best vehicle for your lifestyle and budget. If you’re stuck between multiple choices, test drive each to get a better feel for how they handle it. Once you’ve selected the right vehicle, work with your dealer to negotiate a price or add on service and maintenance plans. Remember to ask about any special dealership deals such as military or college graduate programs.

FILL OUT A CREDIT APPLICATION

You found the vehicle that best fits your unique lifestyle and are ready to buy. Take the exciting next steps and fill out a credit application online or in person with the dealership’s financing department. Your credit application will be submitted to multiple lenders, giving you the ability to compare multiple offers at once. With dealer financing, you benefit from applying to multiple lenders at once so you can compare rates and select the best offer, saving valuable time and money. Finally, you select the offer with the best terms and drive home in your new car all on the same day, bypassing lengthy approval times.

To speed up the application process, make sure to have:

• Proof of identity and residence: For ID, bring your driver’s license or passport. Proof of residence can be your utility bill, credit card or bank statement, homeowners or renters insurance, lease agreement, mortgage statement, or medical statement.
• Proof of income: Be prepared to submit copies of your pay stubs or W-2. If you’re receiving Social Security, be ready to submit your financial statements.
• Proof of auto insurance: You will need proof of your active auto policy.
• Credit banking history: Lenders will need your Social Security number, name, address, and date of birth to check your credit score.

BENEFIT FROM DEALERSHIP FINANCING

Ultimately, financing through a dealership cuts down the time it takes to shop around. Take advantage of searching inventory, test driving vehicles, financing your new ride, and talking with certified technicians and finance specialists all at the same time. The convenience of dealer financing is unparalleled. Accelerate the process and drive home sooner in your new, used, or certified pre-owned vehicle.

Financing through a dealership offers flexibility and great deals. Access dealership deals and the freedom of financing even with less-than-ideal credit scores. At Ingram Park Nissan, we have you covered. We welcome you to visit our Nissan showroom, service center, finance center, leasing office, and auto parts store, all under one roof. Whether you are looking for a new or pre-owned vehicle, we are here for you. Experience the Ingram Park Nissan difference today!