We at Cronic Chevrolet Buick GMC know that a lot of different factors go into selecting and then buying or leasing a vehicle. Many questions arise, and we want to help answer a few for you. For instance, many potential car owners have questions about financing their vehicles and what their options are. We put together this Finance FAQ to help you out.
WHAT IS AN AUTO LOAN AND WHAT GOES INTO CALCULATING IT?
Your loan will depend on a variety of factors, including the cost of the car, the interest rate you are approved for, the length of the car loan, your credit score and history, the amount of your down payment, and whether you are buying a new or used car. At Cronic Chevrolet Buick GMC, you can fill out a finance pre-approval form on our website.

WHAT IF I DON'T HAVE MUCH CREDIT HISTORY AN AM A FIRST-TIME CAR BUYER?
Don't worry! If you don't have much credit history, we will still work with you so you can purchase a car of your choosing, and we will help you get the best rates.

On the other hand, if you have great credit, we will be able to offer you fantastic finance plans.

HOW LARGE OF A DOWN PAYMENT IS REQUIRED?
This will depend on a variety of factors, including what finance options you're approved for and the cost of the vehicle. Again, we at Cronic Chevrolet will work with you to find the finance plan that serves you best.

WHAT'S APR?
APR mean annual percentage rate. This is the annual interest rate that you will pay on the loan. It is most common for auto loans to have a fixed rate, which means your APR will stay the same for the duration of the loan.

HOW DO I FIND A GOOD RATE?
You are able to shop around and see the rates on offer from banks or credit unions, but we will also be able to offer you competitive rates and the convenience of completing everything in-house.

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