How Does Car Financing Work, Mile High Acura

 

How Does Car Financing Work?

 

You’ve searched the inventory, you’ve taken a test drive in the Acura of your dreams, and you’re ready to take it out on the roads of Aurora – but now what? How does car financing work exactly? While you might be nervous to start the paperwork, at Mile High Acura, we pride ourselves on a stress-free financing process. Let’s go through the basics:

What is Car Financing?

So you’ve read the pros and cons to leasing vs. financing, and you’ve decided financing is right for you. What is car financing? Financing involves applying for a loan to purchase your new Acura. Your lender will assess your loan eligibility and interest rate based on factors like:

  • Credit Score
  • Debt-to-Income Ratio
  • Age of the Vehicle
  • Loan Amount
  • Length of Loan

The better your credit score, the better your interest rates on average. If your credit score is low, you may need to pay higher interest rates or look for a cosigner to get a better deal.

Budgeting for Car Financing 

While our finance department is full of great advice, you can also access our free online resources to start crunching numbers without leaving Highlands Ranch!

  • Check out Value Your Trade to bring down the cost of your next purchase. This can help you free up some extra cash to increase the size of your down payment, which can reduce your interest rates significantly.
  • How much can you afford each month between payments, gas costs, maintenance, insurance, and more? Use our Acura finance calculator to fine-tune the numbers, so you can prepare for the financing process.
  • Applying for financing from multiple lenders around Littleton? Be sure to submit them in a short period of time, or you could negatively impact your credit score!

Take the Next Steps with Mile High Acura

Now that you know how does car financing work, it’s time to get you behind the wheel of a few models! Check out our new Acura specials to browse the latest deals, or utilize our Vehicle Finder Service to locate your dream car. Take a look at our car buying tips before you drop by Denver to get behind the wheel of your next Acura! Still have questions about auto financing? Feel free to contact us online at any time!

 

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2799 S Havana St • Denver, CO 80014

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Mile High Acura

2799 S Havana St Denver, CO

Phone: (303) 369-7800

http://maps.google.com/?q=2799%20%20S%20Havana%20St%2C%20Denver%2C%20CO%2080014

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2799 S Havana St Denver, CO

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2799 S Havana St Denver, CO
39.6645377 -104.8672262
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Mile High Acura
Mile High Acura
2799 S Havana St
Denver, CO, 80014 United States
(303) 369-7800
https://di-uploads-development.dealerinspire.com/milehighacura/uploads/2017/09/MileHighAcuraOGImage.png
Mile High Acura 39.6645377, -104.8672262.