What Does it Mean to Finance a Car?

Signing Finance Documents for Car

When you’re browsing through our inventory of new and pre-owned vehicles, you’re almost guaranteed to find something that’ll work with your Evergreen lifestyle. However, after finding your next ride, what are your next steps? Your next steps would be to apply for financing and begin the financing process. But, what does it mean to finance a car, and how does financing a car work?

Before we can answer, “How does financing a car work?” we’ll have to first explain “What does it mean to finance a car?” In simple terms, when you finance a car, it means you’re borrowing money from a lender to pay for your new vehicle. After you purchase the vehicle, you’ll have an automotive loan that you pay off over time. To learn more about how car finance works before taking home a used Chevy, continue reading this guide the team at Lee Motor Company has put together!

How Does Financing a Car Work? | What to Expect

If you’ve never purchased a vehicle before, or you just need a refresher on how car finance works, we’ve got you covered. At other dealerships in the Brewton area, financing a vehicle can be stressful. You often have to sit in a finance center for hours providing paperwork and going through terms and conditions.

However, we do things differently at the Lee Motor Company finance center. Financing a car with us is straightforward and we thoroughly go over your paperwork with you. Here’s how car finance works when you come to our finance center:

  • Information/Factors Required: To begin financing a car, you’ll want to apply for financing with our secure online application. We’ll need a couple of pieces of information and we’ll look over your credit score, loan amount, loan duration, debt-to-income ratio, and a couple of other things.
  • Pick a Lender: After you’ve been approved for a loan, you can begin looking for a lender. Most shoppers choose to get in-house financing at a dealership or go through their personal bank or credit union. No matter which option you choose, just make sure it’s a good fit for your needs.
  • Confirm Loan: Once you’ve found the right lender, complete the negotiations and necessary paperwork for your new vehicle.

With automotive financing at Lee Motor Company, you’ll be on your way to tackle Atmore adventures in no time.

Car Financing Made Easy at Lee Motor Company

When you’re ready to take the next steps in your automotive journey, you can come to us in Monroeville to begin financing. Lee Motor Company makes financing straightforward so that you have one less thing to worry about. Contact us today if you have any questions!

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