Ask a Finance Expert: Car Financing FAQs

Average new car rates are 5.9% to 7.9%. Meanwhile, average used car rates range from 7.9% to 9.9%.

It's important to use your available credit wisely, make on-time payments, keep credit card balances low and try to apply for shorter term loans when possible.

Sometimes a car loan can be approved with zero down. A best practice is between 10% to 20% down.

There are several additional costs when buying a new car such as taxes, registration and licensing, documentation fee, any changes in insurance premiums, and any extended coverage that you choose to purchase.

We have an online trade appraisal tool that you can use to get an estimate of your used car’s value. When you're ready, we suggest you schedule an appointment with our service team for the most accurate trade value.

Yes, but there are other factors including term, vehicle age, loan to value and more.

Yes, we have programs available to customers of all credit situations.

Possibly, we do have programs for low to no credit customers. Sometimes, a cosigner or down payment will be necessary for approval.

We recommend the shortest term possible that fits your budget. The sweet spot seems to be 60 months, but 72-month loans are a great option as well. We do have lender programs available with terms up to 96 months for well-qualified buyers.

Yes, most of the time we can. Also, when customers get pre-approved for a loan it gives us important information so we know what it takes to ensure the customer is getting the best rate available to them.

Yes, a lot of the times customers may be able to refinance their loan if there is a better option after making payments on the car for one to two years at minimum. 

Yes, we work with industry leaders and have many different coverages and terms available for a majority of the vehicles on our lot.