Whether you're looking for a new model or a pre-owned vehicle in or around Youngstown, Ohio, our finance team at Boardman Mitsubishi is here to help you get into a vehicle that suits your needs and your budget. Understanding your financing options can help you decide whether you want to purchase or lease your vehicle, and find the payment plan that's right for your lifestyle. Here's a closer look at how to finance your new car with our team of finance experts at Boardman Mitsubishi.
How To Finance Your Next Vehicle
Figuring out financing is a significant step toward getting the vehicle you really want, so it's important to understand this process and the options you have available. Here are some steps you can follow to finance your next car, truck, or SUV.
Review your credit
Before heading to a dealership to finance your new vehicle, it can be a good idea to check your credit score and gain a better understanding of your personal financial situation. The higher your credit score, the easier it may be to finance your vehicle.
This doesn't mean that a low credit score will prevent you from getting into the car you want, but it may require a few additional steps to set you up with a payment plan that makes sense for you. You may also want to try some strategies to raise your credit score as much as you can before taking on car payments.
Make a Budget
After reviewing your credit score, you can start to make a budget and plan what loan or lease payments fit into your lifestyle realistically. This can help you gain a better understanding of what cars fit into your budget and make sense for your unique needs. If you already have a vehicle, you may want to consider trading it in for another car that would help keep your payments around the same, since you know they already fit into your existing budget.
Learn More About the Car Buying Process
Before you head to a dealership, you may want to review the car-buying process and brush up on the terminology so you feel comfortable when meeting with sales and finance professionals. It's important to understand interest, or the financial charges you'll pay on top of the value of your loan.
This can help you ensure you understand what portion of your monthly payments go toward paying off the loan and allows you to choose an interest rate that works for your budget. It's also important to understand what a car loan term is, which means the number of months you can plan to spend paying off your loan.
Decide Whether You Want a Loan or a Lease
Depending on how long you plan to drive the vehicle and your financial situation, you may decide to lease a car or take out a loan and purchase it. A lease allows you to make payments to a dealership or a third-party lender to drive the car for an agreed-upon amount of time, such as a year or two. Similar to renting, you return the car to the dealership when the lease ends.
If you're interested in a lease, it's a good idea to consider how much you plan to drive the car, since some leases can include a fee per mile you drive beyond the mileage included in the lease contract. Instead, a dealership's finance team can also help you get a car loan from local lenders to help you cover the costs of purchasing the vehicle, requiring you to make loan payments every month until you pay off your loan.
Apply for Financing
Once you've decided what kind of car financing situation you're interested in, you can apply for financing to get the process started and take the next step toward getting into a vehicle you love. Here, you can enter your information and find out what type of financing you're eligible for, so you can start planning for your next car. If you'd rather discuss your options in person, make sure to visit our dealership to chat with a member of our finance team and learn more about the steps you can take to get into a new or pre-owned vehicle today.
If you're unsure how to create a budget based on your income and lifestyle, or you want to learn more about the financing process before committing to a new car, the friendly and knowledgeable experts in our finance center will be more than happy to help you. While you're here, you can also browse our extensive inventory of new and used vehicles to see what's available within your budget. The professionals on our sales team can help you explore a variety of makes and models, and check out the features they offer so you know you're making the right choice.
Why Choose Boardman Mitsubishi
If you're in or around Youngstown, Ohio, make sure to visit us at Boardman Mitsubishi for all of your new and used car needs. Aside from the latest Mitsubishi lineup, you can also browse our impressive selection of used cars, including a collection of certified pre-owned vehicles. Certified pre-owned can give you peace of mind while still allowing you to find a great deal that's right for your lifestyle and your wallet. Whether you're looking for a compact sedan or a family-friendly SUV, we have your next vehicle at Boardman Mitsubishi.
To learn more about our financing options and our inventory of new and used vehicles, contact us online or stop by our dealership at 883 Boardman Canfield Road in Boardman, Ohio. You can also give us a call at (888) 891-9049 if you have any immediate questions about car financing near Canfield. We pride ourselves on offering the hometown service you know and love since 1999, and are excited to get you into a car, truck, or SUV you love. We want to make sure you leave our lot feeling confident in your decision and excited about your vehicle, which is why we take the time you need to consider your priorities, budget, and lifestyle. Find us on Facebook at TheBoardmanMitsubishi.