Many new car buyers choose to finance their purchase rather than paying in cash. Financing offers you flexible payment options and will also provide you with overall assistance in securing your new vehicle. Here is how financing can help you afford a brand-new 2013 Honda:
When you choose direct lending for financing your auto purchase, you will be receiving a loan directly from a financial institution. You will make this loan agreement before you purchase the car at the dealership. Once you enter a purchasing agreement with a dealership, the financial institution will transfer the funds to pay for the vehicle. You will then make monthly periods over a specified period of time until the loan has been repaid. These payments will include monthly interest, and can be more or less depending on the length of your loan.
When you choose dealership financing, you will obtain your loan from the dealership, which makes an agreement with a financial institution on your behalf. Dealership financing offers the convenience of a single transaction to make your purchase. Since dealerships often have relationships with a few different lending institutions, you will also have multiple financing options. In addition, dealerships sometimes have special offers available that provide a lower interest rate.
If you would like to drive a brand new vehicle but cannot afford the monthly payments of a loan, leasing is an affordable option. When you lease a vehicle, you will benefit from lower monthly payments. Your monthly lease payments cover rental charges as well as taxes and other fees. Typically, you will need to return the vehicle at the end of the loan period unless the lease states otherwise with a purchase option.
For more information about vehicle financing, contact Brown’s City Honda of Baltimore. Give our dealership a call at (443) 354-4091 or visit us on the web to learn how we can help you finance and purchase a brand-new 2013 Honda.