What We Mean When We Talk GMC Financing
It’s all merriment when car shopping until someone hits you with the word, “interest rate.” Then, out from left field, they ask you whether you plan to “lease.” Feeling discombobulated, the first thing you want to do is yank your smartphone out and Google these phrases. While others with cold feet may head for the first exit they see, you can rest assured in knowing that our GMC financing professionals are here to address your questions. Visit our Boyertown GMC dealership to speak to our professionals. Patriot Buick GMC will have your financing concerns addressed in no time.
GMC Financing Terms to Know
From the phrase “trade-in” to “car loan,” our GMC financing professionals will break down the basics for you. Trust us to guide you in making a well-informed decision when it comes to GMC financing.
- Trade-In – This is a common phrase that you may have heard our GMC financing experts say. Car buyers will sometimes trade in a car they have for cash to use toward their next vehicle. With a trade-in value, you can save on your next GMC Sierra 1500.
- Term – This word means how long you will have a car loan for. If you have a 36-month term, you will pay higher monthly payments for your new GMC car. However, if you have a longer-term, say a 60-month term, you will be paying less monthly but over a longer period.
- Car loan – When buying a car, you’re technically borrowing money from the lender. A car loan means that you are agreeing to pay back the financial institution.
- Down payment – Car shoppers shell out a certain amount on the first day they finance a vehicle. Ideally, a down payment should be enough to get you started on your monthly payments, so they are not too unaffordable.
- Lease – Leasing a car means possessing it temporarily before returning it to the dealer. If you adopt a lifestyle that involves driving a new car every few years or wanting lower monthly payments, leasing may be the way to go. For more insight, turn to our GMC financing center at our GMC dealership in Boyertown.
Our Boyertown GMC dealers provide GMC financing tools to facilitate your shopping experience. Whether you’d like to know the gist of your monthly payments or complete a financing application online, we have the resources available. Whether you have no credit or poor credit, we work with fantastic lenders to secure a car loan that works with your circumstances. For trustworthy and personalized assistance when financing a vehicle, visit us.