If you’re planning to finance your new Cadillac, you’re about to make a wise decision. With a minimal down payment and a monthly payment plan, you can take home the car of your dreams in no time.
However, it is important to understand how the process works and what you can do to make sure financing is as beneficial for you as possible.
Start with Your Credit Score
Your credit score plays a big role in the interest rate you will be able to get. If your score is good, you are already ahead of the game. If it’s lacking a little, you may want to figure out what you can do to boost it before you start car shopping.
Think About Your Down Payment
While you may have the option to finance your entire purchase, you will have a much bigger loan to pay off. The better choice is to put some money down; 20 percent is ideal, but even 10 percent can suffice. If you will be trading in a car, this can help with your down payment.
Consider a Shorter Term
You will be presented with different loan terms when you finance, and it is a wise idea to go with the shortest one you feel comfortable with. Not only will this probably get you a lower interest rate, but you will also be able to pay off the loan faster.
At our Cadillac dealership near Ponte Vedra, we aim to make financing simple for our customers. Whether you’re looking for a new or pre-owned Cadillac, we will help you find the perfect model and work with you to create a payment plan that fits with your budget.
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Finance
