Finance FAQ
Whether you have bought a car before, or you are looking to get behind the wheel of your first vehicle, you are likely aware that financing will play an important role in the process. Accordingly, you may have some questions about the financing journey and how you can get started. So, to help you as a driver near Oxford and Landenberg, PA, as well as Elkton, MD, our team has organized this collection of finance FAQs.
Read on to learn more and make sure to contact our team here at Jeff D’Ambrosio of Oxford Mitsubishi with any questions you may have.
What Are My Financing Options?
The most common question we see here at our dealership is just a general one – what are your financing options? Here, you will find that you have two options, leasing and buying (traditional financing). Both are great choices; it just depends upon your wants and needs.
How Is Leasing Different?
Many are also curious what exactly leasing is and how it’s different. Well, really, it’s similar in the sense that a lease allows you to make payments on a car that’ll allow you to drive it. Lease deals are much shorter in terms of length, though, and you’ll return that car at the end of your contract. So, in a sense, leasing can be likened to paying rent.
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Will My Credit Score Affect My Loan/Lease?
Yes, your credit score will prove important when it comes to landing either a lease deal or financial plan. We’ll need to take a look at this information to begin working on finding you a deal. Fortunately, you can apply for credit approval in advance, right on our website!
Will I Have to Make a Down Payment?
The answer to this question will depend! If you are pursuing traditional financing, you will need to provide a down payment. On the other hand, with lease deals, you typically don’t have to worry about a down payment.
What Is an Interest Rate?
When you take out a loan on a vehicle, you will make monthly payments until the loan has been repaid. The interest rate also plays a role in the monthly payment you will pay, as the loaner will charge a percentage increase on the original principal loan amount.
What’s My Current Car Worth in Return?
If you are currently driving a car, you can opt to trade it in and put the compensation you receive towards your new vehicle. Bringing your vehicle in, you can get an offer for it. Looking online, you can also receive an estimate of your vehicle’s worth, that way you have a better idea as to the type of compensation you can expect in return.
Learn More About Automotive Financing Today!
Do you have a question not answered above? Reach out to our finance team here at Jeff D’Ambrosio of Oxford Mitsubishi. We’ll be happy to provide any guidance we can.
We’re proud to serve Oxford and Landenberg, Pennsylvania, as well as Elkton, Maryland, area drivers, and hope to assist you soon!
| Monday | 9:00AM - 9:00PM |
| Tuesday | 9:00AM - 9:00PM |
| Wednesday | 9:00AM - 9:00PM |
| Thursday | 9:00AM - 9:00PM |
| Friday | 9:00AM - 9:00PM |
| Saturday | 9:00AM - 5:00PM |
| Sunday | Closed |
| Monday | 7:30AM - 6:00PM |
| Tuesday | 7:30AM - 6:00PM |
| Wednesday | 7:30AM - 6:00PM |
| Thursday | 7:30AM - 6:00PM |
| Friday | 7:30AM - 6:00PM |
| Saturday | 8:00AM - 4:00PM |
| Sunday | Closed |
| Monday | 7:30AM - 6:00PM |
| Tuesday | 7:30AM - 6:00PM |
| Wednesday | 7:30AM - 6:00PM |
| Thursday | 7:30AM - 6:00PM |
| Friday | 7:30AM - 6:00PM |
| Saturday | 8:00AM - 4:00PM |
| Sunday | Closed |