When it comes to auto financing, we understand that it can seem complicated. And here at Rick Case Genesis in Plantation, we want to make sure that we offer a transparent financing process that's easy to understand if you wish to bring home a new SUV or used sedan from our inventory.
Keep reading to learn more about APR, monthly payments, and how you can get a great deal at our Genesis dealership near Miami.
- What is APR?: APR stands for "annual percentage rate." APR is, essentially, what you pay to borrow money. There is a certain percentage of your loan that is charged for financing the loan with your borrower.
- What Determines the APR?: Your credit score is the primary influence over if you get a high or low APR. Typically, you'll have a lower APR if you have good credit, and poor credit will likely result in a higher APR.
- How Does APR Impact Monthly Payments?: The lower the APR you get, the lower your monthly payments will be since APR is how much you pay to borrow each month. So a lower percentage APR of your overall loan will result in lower payments per month.
- How Will a Low APR Save Me Money: Not only will you pay less with a lower APR, but a shorter loan term overall with a low APR is the ideal situation. The less time spent paying off your vehicle, the less time for more interest to build up. So we recommend that the shortest loan term that works for your finances is the best option.
Get in Touch
If you have questions for our financing staff, we encourage you to let us know. Plus, Fort Lauderdale customers can feel free to fill out our online financing application to get things started.
We hope to hear from you soon!
