When it comes to financing a car, most people shudder at the thought of filling out forms and dealing with lenders. In reality, a car dealership’s finance department will take care of most of that for you. Getting a new car loan isn’t as difficult as it sounds either. The process to finance a car is actually pretty simple. Take it from us here at Simi Valley Buick GMC!
There are three steps to the car financing process: Applying, Waiting, and Accepting.
- Applying. The first step is exactly what you’d expect. When you head to the dealership with the intention to buy a car, know your employer, income, expenses, and social security number. The dealership’s finance department will guide you through filling out the forms and then submit them to lenders on your behalf.
- Waiting. If you’re applying through a dealership, this step won’t take very long. Lenders tend to reply quickly to dealerships. While you wait, the lender will examine your application. If everything looks good, they’ll run a credit check. If your credit history and score look good as well, they’ll offer you a loan.
- Accepting. Once you have several loan offers, it’s time to choose one that fits in your budget. Make sure you can make the monthly payment and examine each offer carefully. Pay special attention to the interest rate and loan length. Lastly, accept and drive off in your new car!
Now that you know how to finance a car, you can start to think more about what type of car you can afford and which trim level would be the best for you. Check out all of our new GMC and Buick inventory at Simi Valley Buick GMC and talk to our knowledgable finance staff about the best options for you!