Person with money in hand and using a calculator

What are my options if I finance a vehicle?

Can you shop around for car loans?

It is time for a new vehicle. This can be both an exciting as well as an exhausting process. You have to decide on a make and model, new or used, the number of miles and so much more! One other thing that you have to think about is paying for the vehicle outright or financing it. Can you shop around for car loans? Yes! You absolutely can shop around for car loans. Learn more below.

Man pointing at the words loan approved

Where do I begin when it comes to a car loan?

You want to begin by determining how much you want to spend on a vehicle. If you decide that you want to finance a new or used vehicle, it is a good idea to try and have it paid off in three years. This way, you will have less interest to pay over the amount of time that you are making payments on the loan. One thing to keep in mind when picking out a vehicle is that just because you can pay for a more expensive vehicle does not mean that you should. You should try to choose a vehicle that fits well into your life and budget.

Is it a bad idea to finance a car through a dealership?
Car salesman standing in front of blurred out cars

Where do I go to compare car loans?

You can begin at your local bank or credit union. Ask these two places if they will pre-approve you for a car loan and what their interest rates are. You may have to provide some information such as proof of income. Once you have received the offers from these institutions, you can contact a dealership about what their interest rates are and then choose the best offer for you.

If you have questions about a car loan at Carizma Motors or have other questions for our finance team, please do not hesitate to contact us today! Our team members have seen it all when it comes to financial situations, and we are sure that we will be able to help you!