Financing 101 from Classic Kia

May 19, 2017

If a price tag is the only thing keeping you out of a new car, you may want to consider financing. Financing allows you to take possession of a vehicle without paying for it all upfront. Here at Classic Kia in Waukegan, IL, we’d like to go over the basics of financing with you.

The way it works is that you’re actually taking out a loan for the car paying it back over time-based on agreed upon terms such as down payment amount, interest rate, monthly payment amount, and duration. These terms are created and agreed upon based on the price of the vehicle and your own personal financial situation.

It is difficult to know exactly what your agreement will look like without knowing exactly what your finances look like. However, for browsing purposes and to give you a general idea, take advantage of our online Kia payment calculator. It will give you an estimate of what your payments will look like for a specific car.

In order to find out what the actual agreement will look like, you’ll need to provide relatively extensive information about your financial circumstances. Information like income, residence, credit score, and other assets. If your credit score is less than ideal, you may be asked for additional information such as references and proof of insurance. To get the ball rolling, feel free to fill out an application in our online Kia Finance Department. We know that this information is of a sensitive nature and that is why we take steps to ensure that it is protected.

The finance experts here at Classic Kia look forward to working with you to create an agreement that will get you into a vehicle you love, with the peace of mind that you can pay for it at a pace conducive to your lifestyle.