How Does Car Financing Work at Bob Smith Toyota?

If you’re looking for a used or new Toyota car and don’t want to lease, then you’re going to need to finance so you can buy it. At Bob Smith Toyota, we’re dedicated to helping you through the entire financing process, so you have the best deal possible for the 2020 Toyota Corolla you’ve been looking for. Today, we want to give you a quick rundown of financing and let you know how we work to save you money.

The finance process is essentially you taking out an auto loan from a financial institution and agreeing to pay a set amount of money per month until the value of the loan is repaid. Our goal is to reduce that number to the most affordable price for you, so you can repay it in a timely fashion. The amount of your loan can vary thanks to a number of different factors like your credit score, the total amount being financed, the amount of time chosen to pay it back, the total down payment you present, and the interest rate on the loan.

In terms of getting a lower monthly payment, the bigger down payment you can put down, the less your payments will be. An easy way to boost your down payment can be to trade in your current vehicle, if you have one. Bob Smith Toyota always provides you with the best prices on your trade, so you get top value for your old car and a great transfer of value to your new vehicle.

When you’re ready to do this for yourself, you can speak to our Toyota finance representatives who will work to give you cost-effective, simple, and painless means to land a new Toyota vehicle. It’s sure to be a great gift to yourself or anyone else this holiday, so we’ll see you soon!