Close FINANCE DEPARTMENT
Our Location
3659 South Carson Street
Carson City, NV 89701
Welcome to the Carson City Hyundai Finance Center
Whether you're in desperate need of a new vehicle for daily transportation or you're ready to upgrade to something more comfortable, convenient, and fun to drive, we can help. Our vehicle financing programs make it possible to get behind the wheel of a new car quickly and conveniently.
What Does it Mean to Finance a Car?
Financing a vehicle is the process of borrowing money to purchase a car from a dealership or private seller. Roughly 85% of new car purchases are financed, as are 53% of used car purchases. So if you're thinking about using auto financing for your next vehicle purchase, you're certainly not alone. This is an effective way to get the vehicle you need now even if you don't have the funds to pay the entire purchase price outright.
Why Finance a Vehicle Purchase?
Having a vehicle is essential for many people, and it's not always possible to save up enough to make a vehicle purchase with cash. If your current vehicle stops working or is exorbitantly expensive to fix, it's typically better to invest in a new, more reliable ride that will ensure you can still get around easily. You can't always afford to go without transportation while saving for your next car.
In Carson City, the average one-way commute is over 18 minutes, and 80% of Carson City residents drive their own vehicle to work. Financing your next vehicle purchase is an easy way to make sure you can stay among the comfortable commuters and easily get to your job, school, and other destinations.
There are many potential benefits to financing your vehicle, such as:
- Eligibility for special dealership offers like interest-free financing periods or valuable rebates.
- Immediate access to the vehicle that you want.
- Improving your credit score in the long-term through timely payments.
How Does Vehicle Financing Work?
When you finance a vehicle, you'll make an initial down payment on the vehicle and take out the remainder that you owe in the form of a loan. The larger your down payment, the smaller the loan. Though you may not be able to pay for your entire car with cash, it's still a good idea to put down as much as you can afford upfront.
You will pay interest on the amount that you finance. Keep this in mind when you're determining how much to put down. Your interest rate is based primarily on your credit score. If you have a high credit score, you'll typically qualify for a lower interest rate. Making timely bill payments, keeping your credit utilization low, and having a mix of different types of credit are all things that will increase your credit score.
Car loan terms are usually available in 12-month increments. The most common loan term for a vehicle is 72 months, or six years. Make sure that you choose a loan term that's far shorter than the expected lifespan for your vehicle. You're responsible for paying off your loan even if your car stops running before the term is over.
Each month during your loan term, you must make a predetermined payment on your loan. Some of this will go toward the principal you owe, while the rest will pay the interest. Consider your budget carefully and make sure you can commit to the monthly loan payment for your chosen vehicle. We have many options on our lot, so you can find the vehicle that best fits all your needs, including your financial ones.
How Does a Trade-In Help?
If you have a vehicle that you no longer need, you can trade this in and put the value toward your new car purchase. You can check the value of your vehicle online to get a rough idea of what you might get for it as a trade-in. Trading in your current vehicle at the dealership is a convenient option because it means that you'll instantly get cash to put toward your next purchase. While you can also sell your vehicle independently, this may leave you without a car for a period of time while you're shopping for your next purchase.
A trade-in will contribute to your down payment. This means that you'll ultimately pay less for your next vehicle because your last car is helping you cut back on the total amount you have to finance.
Types of Financing
You can get financing from many different sources, including banks, credit unions, and car dealerships. Some key terms that you may want to know as you're comparing auto loans include:
- Secured Auto Loans: A secured loan is backed by a lien on the vehicle. This means that the lender can repossess your vehicle if you fail to make timely loan payments.
- Unsecured Auto Loans: With an unsecured loan, the lender cannot repossess your vehicle. The interest rate for this type of loan is much higher.
- Direct Financing: Direct financing is available from banks and other financial institutions that give you the money themselves. You must secure direct financing before coming to a dealership to make your purchase.
- • Indirect Financing: Indirect financing is available right at the dealership. The car dealership acts as a helpful middle man, connecting you with a convenient loan when and where you need it.
The Benefits of Financing With a Dealership
You can get access to favorable terms, money-saving deals, and outstanding convenience by financing with our dealership. At a dealership, you may find opportunities for trade assistance cash, cashback offers, and extended loan terms that aren't available when you're working with a direct lender. In addition, if you trade in your vehicle at a dealership, you may be eligible for tax advantages.
With our convenient online finance application, you can get on the way to your new vehicle in just a few clicks. Fill out your application now to find out what you qualify for, and try our payment calculator for additional assistance determining what you can afford. Our finance team at Carson City Hyundai is available to answer all your questions and get you into the car of your dreams quickly.
“ ” Thanks to Val Clark she made a great and easy process I definitely recommend this dealership and their workers