Start Your Financing Application Online
Buying a car, whether it's new or used, is a huge investment for most in Roanoke Rapids. There are a few things you can do to help make the process less stressful, and Whites Chevrolet Buick GMC is here to help. By taking a few moments to fill out our easy financing application, you'll start the process of getting all the help you need. One of our helpful finance specialists will contact you promptly to ensure you get the help and attention you deserve.
Pre-Approved or Pre-Qualified
Pre-Qualified - The terms sound the same but they are different. Pre-qualification is when a lender makes a soft inquiry into your credit information, a process that will not affect your credit score. Pre-qualification will give you a rate estimate and the amount you will probably be able to borrow in Littleton. You are starting this process when you fill out our online finance application. Pre-qualification is a great step to take if you want to start exploring the car market and get a rough estimate of your budget.
Pre-Approved - Being pre-approved is the next step. When you receive pre-approval, a lender will do a hard credit inquiry. This can affect your credit score, so you should know what vehicle you want to purchase or at least from what dealership you want to buy from before getting pre-approval. Pre-approval will give you the rate you'll be paying and the amount you are approved to borrow in Ahoskie.
Why get Pre-Qualified?
There are a lot of variables when it comes to getting approved for a loan in Lake Gaston. Income, debts, current rates, and how much you want to borrow. Getting pre-qualified will give you a better idea of your budget. Hopefully, it won't crush your dreams but will help you find a better selection of vehicles or answer the question of new or used. Pre-approval will do the same, but it can hurt your credit again, so it's best to wait until you have a vehicle in mind before going that route.
Why Finance?
Like anything, financing a vehicle has pros and cons. Financing lets you spread the cost out over a longer time. However, you pay more over that time because of interest rates. Doing this can help you afford a better car and help improve your credit score. While improving your credit is always good, biting off more than you can chew with a more expensive vehicle can lead to trouble. If you need to sell your vehicle before it's paid off, you might owe more than it's worth because of depreciation.
When you Finance, you own the car in the end. You can then continue to drive it until there is no driving left in it or trade it in and use its value toward the price of another vehicle, reducing the amount needed to finance in Henderson.
Other Options
There are other options besides financing for drivers in Murfreesboro. One is to buy the car outright. If you have the cash on hand to buy a car outright, you get all the benefits of ownership, namely having an asset of value to sell later, with none of the downsides of financing. The drawback is that most people can only afford to spend money at a time. But if you have the cash, this is a great option. You can buy a car with a credit card if your limit is high enough. The major downside is the interest rates are extremely high compared to traditional financing. You need to pay off your card in a month to make it worth the points.
Leasing is the most popular option besides financing. When you lease a vehicle, you rent it for an extended period. Leasing usually has lower payments than buying a car through financing. However, you don't own the car at the end of the term, and mileage is usually limited. Insurance, maintenance not covered by any warranty, and upkeep are your responsibility as if you bought the car.
Contact Us with any Questions
If you have any questions, please reach out. Our Finance Center is here to help you find the right car or truck in Emporia, VA. They will work with you to answer any questions and help you find the best rates and terms if you decide to finance or lease with us. Stop by to see our inventory of new and used cars today.