So you found the Suburban that you really love. You want to purchase it. But what about financing? You've come to the right place for fast, reliable information.
Most of the financing companies available through this webpage can give you an answer on a loan application in about 15 minutes. All you have to do is supply the basic information: income, length of employment, debts, and obligations. It is no different than applying at a bank or credit union, and it is probably a lot easier because you don't have to even leave your home or office. Just apply online, instead of getting into the car, talking to a loan officer, and filling out forms. And if you need to have a check right away, you can get it the next day if you have to.
If you are still shopping for your Suburban, you can have your finances in place before you even walk in the door at the dealership. Before you start your research, though, you need to decide how long you will need to pay off your loan and how much you want to borrow (this is known as the "term" of the loan). But you will feel empowered when you talk to a salesperson knowing exactly how much you want to spend, what interest rate you are willing to pay, and from where you will be receiving your loan. No sense in depending on the dealer's finance department. You have the tools right here to research your loan.
Did you know that the big car manufacturers make more money financing cars than they make from car sales? This is another reason to arrange your own financing if you can. Dealerships may not offer you the best rates - your own resources, like those found on this page, may be better. It is worth your time to check it out, because in the long run it may save you hundreds, even thousands of dollars.
There are obvious ways to save money financing your Suburban. Sign up for a shorter loan term - pay off your Suburban in three years instead of four or five years. Your monthly payments will be higher but you will save money on interest. Pay more every month on the principal, if you can. Even paying $20 or $30 dollars more a month will get you to the end of your loan quicker. Find the best interest rate you can. It really does pay to shop around. Interest rates can vary by one, two or even three points. Paying a large amount of the down payment also saves you money because the amount of money you have to borrow will be smaller.
Leasing is an option, although there are some big pros and cons. The pros are that you get a "new" car every three or four years, depending on how the length of your lease. If you are self-employed, you can legally write off the entire payment as a business expense. This is a big break at tax time. The down side of leasing is that you don't own anything after your lease is up. You have the option of buying the car at that time, but the price is usually above market value. You also have the option of continuing the lease, which is what most people do once they start leasing. Your other option is to look for other transportation: start searching for a car to buy or another lease arrangement.
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