A common inquiry we have is someone looking for a car loan with a growing family. Whether planned or otherwise, surprise twins or triplets or something else, family life demands at least one car. If you find yourself needing a larger or extra car to help cope with family life, we can help.
Our Freelton car loan team outlines the process.
Competitive car loans in Freelton
If you haven’t had a car loan before, it’s a relatively straightforward process. A competitive marketplace ensures low rates, simple application forms and high chances of success.
Work with our team and you’re in great hands!
A car loan is made up of the principal amount, the amount you borrow plus interest and fees. Those are all combined and then divided over the loan term, the number of month’s you’ll be paying the loan.
The longer the term, the lower the monthly payment. The shorter the term, the larger the monthly payment. Longer loan terms mean paying more interest over that term but at a lower cost each month.
Applying for A Car Loan with A Growing Family in Freelton
Applying for a Freelton car loan is simple but requires a little planning.
Set your budget – Come up with a figure you can afford to pay each month and put that into a car loan calculator. Add your down payment and/or trade in to come up with a total loan amount.
Get auto loan preapproval – Getting preapproved for a car loan is a dry run to make sure you got your math right. It doesn’t impact your credit score if it uses a soft inquiry and will tell you whether you’re likely to get a loan or not.
Perform your research – A car loan with a growing family places unique demands on cars, so you need to make sure yours delivers what you need. Make a list of what the car must be able to do and want you would like it to have. Use that in selecting a car.
Make a shortlist – If you like more than one car, make a shortlist and arrange test drives. The test drive will tell you whether your research works in real life and whether the car is as good in reality as it is on paper. The test drive should help you settle on a car that delivers everything you need.
Apply for the car loan – Once you have settled on a car you can afford, now is the time to apply for the car loan. Shop around, contact our team and see what deals are out there. Only apply for one loan as the application will impact your credit score. Complete the paperwork, settle on terms and you can drive away happy!
Car loans are very straightforward and can give you an answer in hours. As long as you can afford repayments and have some kind of credit score, we can secure a great deal on a loan for the family car you need.
Contact our team for more information!
For those of you who know that you have a challenging credit situation, please visit Dixie Auto Loans where we have a team of credit specialists ready to help you get approved for a car loan today!
For any questions or concerns, please don’t hesitate to contact us here!