Shawn Ryder

JANUARY 17, 2025

When purchasing a new vehicle, it’s not uncommon to come across the term “negative equity.” If you’re considering whether to apply your down payment toward covering negative equity or if you should use it for a newer vehicle, it’s essential to understand the implications of each choice.

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3 Brothers Autosale

DECEMBER 20, 2023

Your credit score is a numerical representation of your creditworthiness, and a higher score opens doors to lower interest rates and better loan terms. This not only makes your monthly payments more manageable but also ensures that a significant portion of your payment goes towards reducing the principal amount.

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Shawn Ryder

JANUARY 18, 2025

The loan is secured by the vehicle itself, meaning if the borrower fails to make payments, the lender can repossess the car. The key components of an auto loan include the principal amount (the price of the vehicle), the interest rate, and the term of the loan (length of time to repay).

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Shawn Ryder

JANUARY 22, 2025

Understanding APR: What You Need to Know The Annual Percentage Rate (APR) represents the total cost of borrowing and is expressed as a percentage of the loans principal amount. Loan Term The duration of your loan can also influence the APR. Negotiate Never hesitate to negotiate the terms of your loan.

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Shawn Ryder

JANUARY 19, 2024

Introduction When you hear the word “equity,” you might think of it in terms of money or ownership. In simple terms, it is the value that you truly own in your car. This includes the principal amount borrowed, interest, and fees that need to be paid back to the lender.

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Davey Auto Sales

JANUARY 27, 2025

Important Financing Terms to Know To be sure automotive financing comes with a language all its own. Our team put together a few important terms you should know before you start looking for financing. Down Payment – An initial payment made to lower the amount of money that needs to be borrowed to buy a car.

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