FINANCE TERMS | PUNTA GORDA FL

Finance Terms

Finance Terms in Punta Gorda, FL

When looking for a car to purchase, you should probably go ahead and look for ways to finance it. New or used, most cars are priced too high for most to pay in one lump sum. At Gettel Lincoln, we understand. Buying a car for the first time can be an overwhelming undertaking. With the numerous financial requirements, credit checks and overall options for financing, there can be a lot to wade through when buying a car.

But fortunately for you (and other buyers in the Port Charlotte, North Port, Venice and Fort Myers area), we are here to help. Our finance center at Gettel Lincoln is determined to help you sit behind the wheel of that shiny Lincoln you’ve been browsing without the stress and hassle that comes with large purchases. Continue reading to learn more about the vehicle finance terms that anyone can understand!

Usual Vehicle Finance Terms

Usual Vehicle Finance Terms

What may be “normal” will vary for each buyer, but lenders propose that 36-72 month car loan terms is best. That means you will have three to six years to pay off your car, including interest, to the lender. Your credit score and down payment will determine your interest rate and loan terms.

Are you curious about what your interest rate will be? Peek at your financing term. A 72-month loan term will have a lower monthly payment, but the interest rate will be higher, so you’ll end up paying more over time. Most finance companies promote a shorter loan term since there will be less risk for being "upside down" on your loan, retaining more value in a new car and less interest will be paid long term.

Financing with Gettel Lincoln

Financing with Gettel Lincoln

Ready to drive home in your Lincoln? Fill out our finance application and someone from our qualified finance team will contact you as quickly as possible. Also, feel free to take advantage of convenient tools on our website, like our payment calculator.

If you have any questions or want to know more, give us a call or stop by our dealership at 2021 Tamiami Trail, Punta Gorda, FL 33950. Gettel Lincoln proudly serves customers from Port Charlotte, North Port, Venice and Fort Myers.