General questions about financing

What is the difference between a loan and a lease?

When you obtain a loan, your down payment and monthly payments go toward the total purchase price of the vehicle. When the term of the loan is complete and the loan is paid in full, you own the vehicle. With a lease, you make monthly payments for the term of that lease. Once the term of the lease is complete, the vehicle is returned to the lessor. The total sum of payments covers the vehicle’s depreciation over the time you d rive it and is usually less than the less than the outright price of the vehicle.

When is ownership transferred?

When you take out a loan on your vehicle the lending institution retains the title to the vehicle as security on the loan. When paid in full, the loan terminates and you assume ownership. Your lending institution sends you the title that had been held while the loan maintained an outstanding balance.

What rates do you offer?

Our dealership works with several financing institutions to bring you competitive rates and terms on vehicle financing. The rate in your individual financing package is influenced by a number of factors including your credit history, the term of your loan or lease, the amount financed, and the residual value of the vehicle you lease.

Can extra fees, taxes and accessories be financed?

Yes, registration, taxes, extended service plans, gap coverage, and other charges may be financed.