Auto Loans Near Daphne, Alabama

Have you decided it's time to buy a new or used car? Tameron Buick GMC is here with all of the resources and help you need so you get into a financing plan that works for your budget. You can't beat the excitement you feel when you find the perfect new car, and we want to make sure you can drive away in it. 

Whether you are looking for your very first car or it's time to upgrade what you already have, the financing professionals at Tameron Buick GMC have the experience and knowledge to help. Here is everything you need to know about financing, our in-house financing option, and how it all works.

What Does It Mean To Finance a Car?

When you finance a vehicle, it means you borrow money to purchase it and then pay it back with interest over time. You'll sign an agreement saying you'll make monthly payments made up of the principle, which goes toward paying the loan balance, and the interest, which pays the interest due. 

There are a few different types of car loans. You can apply for a loan directly with a bank or financial institution or use the in-house financing department at the dealership.

'What Are the Benefits of Dealer Financing With Tameron Buick GMC?

When it comes to buying a car in the Daphne, Alabama, area, you can't go wrong at Tameron Buick GMC. Our financing professionals are excellent at what they do and will work hard to make sure they get you the best possible rate and terms. Some of the benefits you'll get from financing through our dealership include:

  • Promotional pricing. If you finance directly through the dealership, you might be able to take advantage of promotional pricing on new vehicles. 
  • Flexibility. Since we have established relationships with several different lending institutions, we can shop around to find you the best rates.
  • One-stop shop. In-house financing means there is only one application for the loan. We will make the calls to our lenders to find you the best possible loan and do all the paperwork. You don't have to worry about researching terms and conditions, we will take care of it for you.

What Affects Financing Terms?

Several things can affect your financing terms. As you get started with the car buying process, it's important to know them and understand how it works. The top factors that contribute to the terms of an offer include:

  • Your credit score. This is the biggest factor that contributes to what you can get for financing terms.
  • The length of the loan. Longer loans will have a lower monthly payment, while a shorter loan will have higher monthly payments but a lower cost over the life of the loan. 
  • Income. Your income and the income of any co-signer is a significant determining factor when securing financing. Having a full-time job will indicate that you can make the monthly payments.
  • A trade-in or down payment. If you trade in your current vehicle or have the money to make a down payment, it will reduce the amount of your loan and increase your approval odds. 

How Does the Financing Process Work?

When you choose to use the in-house financing department at Tameron Buick GMC, our financing experts are here to help every step of the way. 

The first step is to fill out the online application for preapproval. This quick form provides our finance professionals with the information they need to start researching your options and finding the best possible loan terms for you. The application breaks down the data into a few different sections. 

  • Personal information such as name, date of birth, address, and contact information.
  • Employment information including the name and address of your employer and your current income.
  • Information about your home financing situation. Do you rent or do have a mortgage?
  • Information about the vehicle you want to purchase. How much does it cost, and what is the size of the loan you'll need?

How Can Trading In My Vehicle Help?

If you have a vehicle you want to trade in, Tameron Buick GMC makes it easy to find out what it's worth. The Instant Cash offer tool is easy to use and will provide you with a cash offer for your vehicle in just minutes. All you need to do is enter the VIN and some information about its condition, and the tool will generate an offer. You can then bring this into the dealership when you come to purchase the new vehicle. Our service center techs will inspect the car to verify the offer, and then you can use the cash as a down payment. This quick process can help improve the terms of your financing offer on your new vehicle.

What Can I Do To Get Ready for Financing?

It's important to do some preparation before you get started with the financing process. Our professionals are here to help, but you can do a few things to make the process even easier. 

Before you fill out the online preapproval form:

Check Your Credit

It's easy to check your credit score, and since it is such a significant part of the loan, knowing where you stand before filling out an application can make a big difference. If you have some bumps in your credit history we can still help you secure financing, but if you have time, take some steps to improve your score and you'll get better terms.

Determine What You Can Spend

Take some time to go through your expenses and decide what you are comfortable spending each month for a car payment. This will help our financing team come up with a loan that fits your needs.

Get your financing for your next car at Tameron Buick GMC and we will do everything in our power to make the entire process easy and stress-free. Our goal is to help you keep the excitement of a new car going well after you drive it off the lot. We look forward to helping you get into your dream car.