How to Finance a Car

You have two options for financing—go with the financing offered by your own bank or use our dealership to find the best deal. We always encourage drivers to check with their bank, just so they know all their options, but we can typically get you a better deal when you go through Heritage Automotive Center Center, since we have the resources to shop around.

After the interest rate from your lending institution is determined, we will discuss down payment (how much money you will put down at signing) and the loan term (how long the loan will last). Typical loan terms range from three to five years. The shorter the loan term, the higher your monthly payments will be, but you will pay off your car faster and pay less in interest by the end of the term.

How do you get the best deal on financing? Be smart with your money. Work hard to improve your credit score by lowering your credit utilization, responsibly managing multiple lines of credit, and regularly paying off debts in full. A good credit score goal when trying to earn stellar financing is 700; 750 is even better.

If financing a new car is not the right situation for you, that does not mean you immediately have to consider used or certified pre-owned. You can also talk to our lending professionals about lease deals. When you lease a vehicle, your monthly payments will be lower, but you will face some mileage restrictions and will not own the car at the end of the term.