Evaluate the Terms for Car Loans in Everett

June 30, 2017

car loans in Everett

Most people only buy 3-5 vehicles in a lifetime so, as the process changes throughout the years, each purchase can be markedly different. This can lead to some confusion. For the most pleasant auto-buying experience, it is best to be prepared in advance. If you plan to finance, it is recommended that you are aware of what is currently involved regarding car loans in Everett.

  • A down payment is what you must pay initially when you buy a car. This is typically a percentage of the list price and must be paid to initiate a loan. It is better to pay more than the minimum required to lower your costs over the term of the loan. A trade-in vehicle may be considered all or a portion of your down payment.
  • The length of financing is called the loan term and could be anywhere from 1-5 years. Longer loans have smaller monthly payments with more interest paid while shorter loans cost more each month with less interest paid. Many dealers even offer car financing after default.
  • Your interest rate is called the APR or annual percentage rate.
  • The dealer or lender will charge you a fee to take responsibility for your loan and this fee varies from place to place.
  • Closely read and understand all fees and/or penalties within your contract before signing it.

Fresh Start Approval not only has a great selection of reliable pre-owned vehicles in all price ranges, but also affordable car loans in Everett. Call us today about auto financing at (888)348-3290.