The Nissan of Albertville Car Loan & Lease Center
UNDERSTANDING CAR FINANCING
UNDERSTANDING FINANCING YOUR CAR
• Most consumers need financing to buy a car. The most common type of car financing is financing obtained through, or from, a dealership. Most dealership financing involves a contract with the dealer. Consumers also may arrange for their own loan over the Internet or directly from a finance company, bank, or credit union, however dealership financing usually has special offers that are only good through the franchise dealership.
RESEARCH TO DO BEFORE YOU ARRIVE AT Albertville Nissan
• Determine how much you can afford.
• Information about how to contact the major credit bureaus is included at the end of this page.
• Find out your credit score (www.myfico.com).
• Identify the type of car you need.
• Check buying guides, the Internet, and other sources to find out the price range and other information for the car you want to buy.
• Compare current finance rates being offered by contacting various banks, credit unions, or other lenders. Compare dealer quotes and non-dealer quotes; there may be restrictions on the most attractive rates or terms from any credit source.
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FINANCING WITH Albertville Nissan
Albertville Nissan may be able to provide special manufacturer offers, such as reduced interest rates or cash back on certain models. You may see these specials advertised in our area.
AFTER COMPLETING THE PURCHASE
• Be aware that if you financed the car, the bank, finance company, or credit union that holds the contract has a lien on the car until you pay the contract in full.
• Make your payments on time. Late or missed payments incur late fees and affect your ability to get credit in the future.
IF YOU ENCOUNTER FINANCIAL PROBLEMS
• Talk to your creditors if you experience difficulties making your monthly payments.
• Explain your situation and the reason your payment will be late. Work out a repayment schedule with your creditors and, if necessary, seek the services of a non-profit credit counseling agency.
• Know your obligations. If you fail to make your payments as agreed, a creditor or assignee may have the right to repossess and sell your car to pay off any outstanding balance on your account. If the car is sold for less than what is owed, you may be responsible for the difference.
REMEMBER…WHEN VISITING Albertville Nissan
• Stay within the price range that you can afford.
• Negotiate your finance arrangements and terms.
• Consider carefully whether the transaction is best for your budget and needs.
• Understand the value benefit and cost of products like extended service contracts, or guaranteed auto protections, which are not required.
• Read the contract carefully before you sign. You are obligated once you have signed a contract.
• Don't sign documents that are blank or are missing information about the terms of your purchase.
GETTING YOUR CREDIT SCORE AND A COPY OF YOUR CREDIT REPORT
You can get a free copy of your credit report with your credit score once each year by contacting the following:
Website: www.annualcreditreport.com Phone: (877) 322-8228
You can also obtain your credit information by contacting one of the three major credit bureaus or the Fair Issac Company:
Equifax Credit Information Services
P.O. Box 740241
Atlanta, GA 30374-0241
Phone: (800) 685-1111
Web site: www.equifax.com
P.O. Box 2104
Allen, TX 75013-2104
Phone: (888) 397-3742
Web site: www.experian.com
P.O. Box 1000
Chester, PA 19022-1000
Phone: (800) 888-4213
Web site: www.transunion.com
Fair Isaac Company
KNOW THE KEY TERMS BEFORE YOU SIGN
Amount Financed –The dollar amount of the credit that is provided to you.
Annual Percentage Rate or "APR" –The cost of credit for one year expressed as a percentage.
Down Payment –An initial amount paid to reduce the amount financed.
Extended Service Contract –Protection on specified mechanical and electrical components of the car that supplements the warranty coverage that may be provided.
Finance Charge –The cost of credit stated as a dollar amount.
Guaranteed Auto Protection (GAP) –Protection that pays the difference between the amount you owe on your car and the amount you receive from your insurance company if the car is stolen or destroyed before you have satisfied your credit obligation.
Monthly Payment Amount –The dollar amount due each month to repay the contract.
No Hassle Price of the Vehicle –The purchase price based on current market pricing, and agreed upon by the buyer and the dealer.
Car loan and Nissan leases aren't topics most people get excited about. That is until they've come to the Nissan of Albertville Car Loan and Lease Center. Here, they're met with a friendly, expert staff focused on getting them the flexible terms and rates needed to accommodate their individual life circumstances. Trust us - it's a personable, results-driven experience you won't forget. To learn exactly what we can do for you, contact us today.