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Examining Your Financing Options When Shopping for a New Car

Last updated 6 years ago

Shopping for a new Buick is more exciting than ever these days. Because the economy is recovering, you can expect to take advantage of a variety of attractive financing options. Use the follow article as your guide when deciding which financing option is best for you. 

How to Finance

  • Model Year

Sometimes it’s not which option you choose to finance a new Buick, it’s how you finance it. For instance, you can get a better deal on a new Buick if you shop for a car that is about to be replaced or discontinued, rather than one that has recently been updated or redesigned. 

  • Down Payments

It’s also smart to consider making a sizeable down payment. This reduced the amount of your monthly payments, and the amount that you will pay in interest in the long run. 

Where to Finance

  • Bank Loans

Because banks, on the whole, tend to be a bit stricter with their lending procedures than the dealership, it might be necessary for you to take a look at your credit score before applying for a bank loan. Improving your credit score could improve the interest rate that you get and further increase your chances of getting a loan. 

  • Credit Union Loans

Another popular option, getting a loan from a credit union can be a great way to finance a new Buick. You will probably have to apply for membership at the credit union first, as these sorts of institutions are generally not-for-profit and for members only. 

  • Pre-Approval at the Dealership

If you haven’t been able to get approved through other sources, you might want to look at the financing specials at your local Buick dealership. The dealer usually offers fast and easy pre-approval on a car loan. Additionally, the dealer will probably accept your current car as a trade-in, which will be credited towards the purchase of your new Buick.  

If you are curious to see a great selection of new Buicks, come to Don Bohn GMC in Harvey, Louisiana. Visit our website or call us at (504) 708-4676 for more information.

 

 

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