FINANCING
How does financing at Grant Miller Chevrolet Buick GMC Ltd. work?
Financing with us is very simple! First select a
vehicle that meets your needs. Submit a credit application with the help of
financial services team. If approved, decide which finance offer suits you
best!
HOW ARE FINANCE DECISIONS MADE?
• Down Payment
• Vehicle specifics (model, style, age, mileage, and cost)
• Application information such as income, time at current job, and time at residence
•Credit History
WHAT DOES A CREDIT SCORE MEAN?
A credit score is designed to assist financial
institutions predict the amount of risk associated with a major purchase (car,
house credit card, etc.). In other words, it is a way to notify the lender how
(and if) you will pay you bills.
WILL MY CREDIT SCORE DROP EVERY TIME I CHECK IT?
Checking your own credit report is what's known as
a "soft inquiry," which does not affect your personal credit score.
Only "hard inquiries" made by a creditor or a lender when you apply
for a car loan can drop your credit score. These "hard inquiries" can
typically bring your score down by 3-5 points.
HOW LONG WILL POOR CREDIT HISTORY AFFECT MY LIFE?
With enough time and patience, all poor-credit
situations can be rectified. A credit score is only a minimal part of the
credit approval and car loan process. All situations can be turned, with the
appropriate vehicle selection Grant Miller Chevrolet Buick GMC Ltd. can assist you to always improve
your credit score for the future.
CAN I GET A CAR LOAN WITH POOR CREDIT HISTORY?
Grant Miller Chevrolet Buick GMC Ltd. wants
to assist you in reconstructing your credit rating and provide you with a
stable foundation for future financial success. Our knowledgeable financial
services team can provide you with the best plan to fix financial misfortune.
We specialize in actually acquiring the perfect car loan for you, even if you
have a poor credit history. We have helped many of individuals in find the
perfect car loan.
TOP SIX REASON'S WHY YOU SHOULD NOT USE YOUR LINE
OF CREDIT TO PAY FOR A VEHICLE
1. Interest rates fluctuate with prime which can result in variable payments
• Unknown interest and unknown terms.
2. Lines of credit are designed for emergencies and investment opportunities
• Don't get caught without a backup plan.
3. Many lines of credit are secured by your home; credit providers consider this a second mortgage
• Default of payment for any reason allows the bank to repossess your home.
4. Line of credit were designed as interest only loans
• Interest only payments result in long term liabilities without assets.
5. Your credit line is a demand note
• Your bank has the right to demand payment in full, at their discretion, at any time, with or without cause. If you do not have the cash to pay off your line they will use their "Right of Offset"
6. Our full service finance team represents all major banks and can negotiate the best terms and conditions on your behalf
• Fixed term open loans save you money and allow you to trade sooner