How to Apply for a Car Loan

April 15th, 2019 by

Whether new or used, buying a car is a big deal. If you don’t have the adequate amount of cash saved up to pay the full purchase price upfront, you may need to apply for a car loan to help finance your new ride. Here’s the lowdown on getting a car loan from the pros at Fred Martin Nissan.

Set a Budget 

Check out the vast inventory of new Nissan vehicles available at our dealership. Though we offer many affordable options, select the vehicles that best cater to your budget. When you sign up for a loan, you’ll be making monthly payments toward it, and you want to ensure you’re able to meet them. This is why you need to find a car that fits your economic needs. Don’t forget that we also offer a fine selection of pre-owned Nissan models that cater to lower price points.

Understand the Fees

Your loan will include more than just the purchase price of the new car. Keep an eye out for a loan origination fee, interest, title and registration fees, as well as miscellaneous fees.

Know Your Credit

Your credit standing plays a major role in determining your auto loan eligibility and interest rate. Check your score and report prior to applying to determine where you fall on the credit spectrum. As a reference, the higher the credit score, the lower the interest rate.

Applying for an auto loan may sound stressful, but with a little due diligence, you can find one that works perfectly for you with the help of Fred Martin Nissan. We look forward to working with you soon!

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