Here at Tonkin Wilsonville Nissan, we want all of our customers to have a great experience when buying a new or used SUV, car, or truck. From the time you step into our dealership to when you drive off in your new Nissan, our team is here to provide you with the best service possible every step of the way.
When you’re ready to buy or lease your new or used Nissan, our finance team is here to help you figure out what’s best for your budget. Keep reading to find out what the different types of financing options are available, what you’ll need to bring to the dealership, and what to expect when financing your next car.
Types of Auto Financing
Whenever you purchase a vehicle from Tonkin Wilsonville Nissan, there are several different financing options available. Which one you choose depends on your personal preferences and budget, though the following three are the most common types:
With direct financing, you’ll borrow money directly from a bank, credit union, or other financial institution. You’ll apply for direct financing directly through the institution, and when you’re approved, you’ll get a check for the amount you can borrow. Then, you can bring that check to the dealership to pay for your new Nissan!
Dealership indirect financing
In this scenario, you’ll apply for financing through the dealership, with whom you enter into a contract agreeing to pay the amount financed, plus a charge. The dealer will put you in a contract with a third-party financier, who provides the money for the loan. Dealership indirect financing can get you special offers, deals, or programs, which can save you money.
A special type of direct financing where the dealership directly lends the money to you. You can commonly find in-house financing at buy-here, pay-here lots, and the like. Many dealerships that offer in-house financing don’t check your credit score, which makes this type of financing ideal for customers with a poor credit history. However, in-house financing might end up being more expensive over time.
Prepare for Your Trip to the Dealership
Before you come to Tonkin Wilsonville Nissan’s finance department, consider the following points:
- If you have a vehicle to trade in and still owe money on it, check how much you owe on that vehicle. You might either want to pay down the balance on that car before buying a new one, especially if you owe more on your current car than it’s worth.
- Contact your insurance company to prepare for a transfer of your insurance for your next vehicle—lenders require full-coverage insurance on a financed car.
- Depending on your credit score, you’ll need to bring a down payment of at least $1,000 or 10% of the car’s selling price.
- In addition, bring the following to the dealership:
- Your driver’s license
- Proof of income (like check stubs)
- The title of the car you’re trading in, if you are
What to Expect at the Dealership
Most dealerships, including Tonkin Wilsonville Nissan, have a Finance Department that’s here to help you explore your various financing options. After going over these options with one of our friendly finance experts, you’ll complete a credit application to see if you qualify for the loan. You’ll also want to ask the dealership about any manufacturer incentives, rebates, or special prices at this stage, to help save you more money.
Benefits of Financing Your New Car Purchase at Tonkin Wilsonville Nissan
When you’re ready to buy a new or used Nissan like the Murano, Maxima, Altima, Sentra, or any other Nissan model, come find your next Nissan at Tonkin Wilsonville Nissan, near Portland, Tigard, and Gresham. Our finance department will help you finance the used car or new car of your dreams, and our easy-to-use value your trade tool will help you figure out exactly how much you can fetch for your trade-in. Feel free to stop by and view our inventory of Nissans, give us a call, or start shopping online for a new car today!