Car Finance Basics with Bob Smith Toyota

So, you’ve decided you’re ready to buy a new or pre-owned Toyota vehicle and you’re wondering what the next step is…Bob Smith Toyota in La Crescenta, CA, is happy to walk you through the financing process! Our dealers are happy to share some important financial information, so you can feel confident going forward and signing on the dotted line with your next new vehicle.

Unless you’re buying out of pocket or “all cash” on your vehicle, you will need to finance with Toyota financial. With our easy online application, you give us your information and we let you know what you are eligible for in terms of how much you can borrow, how long you will have to pay it back, if you need to make a down payment, and what your interest rate will be. These factors depend on your credit score and overall finance history, as well as any current financing promotions we have to offer.

Once you know what you’re eligible for, it’s time to shop. It’s very important to select a vehicle that fits with your personal budget so that you can make your monthly payment on time and in full. You may be eligible for a higher monthly payment than you are comfortable with, so keep in mind that you can always select a more inexpensive vehicle for a lower payment. Utilizing our payment estimator, fuel savings calculator, and trade-in appraisal (if applicable) can help you find the appropriate vehicle for you to invest in.

After these decisions have been made, it’s simply a matter of signing the paperwork and getting your brand new vehicle insured and registered. We hope this quick info has helped you gain a bit of an understanding of financing, but we are always happy to talk more if you have additional questions. As your La Crescenta Toyota dealers, we are always here to help with your car-buying needs.