How to Finance a Loan

You’ve spent a few days, maybe weeks, doing research to find out what car is perfect for you. Everything from the color, the accessories, the model, everything is exactly what you’re looking for or at least as close to your dream as you can get. Now, it’s just a matter sitting down at the dealership and getting the numbers settled. 

That can be one of the more stressful parts of the car buying process. Once you have the car picked out there’s suddenly a lot of numbers flying around as you try and finalize the whole process. Your credit score, down payment, monthly payments, and various fees all start to pile up and it can be a bit confusing if you don’t know how to structure the loan.

Man looking over papers

How to Structure a Loan 

Obviously one of the biggest things that is going to affect your loan is your credit score. A bad credit score can mean less favorable terms for you. Bad credit isn’t going to stop you here are Carizma Motors, we want to help finance your future, not you’re past. There are some things you can do though to help get ahead of the game and take control of your loan.  

Knowing your credit score is a good first step towards getting a hold of your car’s finances. Another important factor is to look at the length of your loan as opposed to the monthly payments. Lower monthly payments may seem nice, but you end up paying more in the long run as interest builds up. It’s important to make sure the monthly payments don’t break your budget, but it’s still something to consider. Down payment amount will also work towards helping create a more manageable long-term cost. 

Financing at Carizma Motors 

Carizma Motors is dedicated to working with you to make sure the car and the loan fit your budget and lifestyle. Stop on by our dealership in Lubbock, TX and talk with our sales staff about getting set up in your next vehicle.