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Car Financing FAQ
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GET YOUR AUTO FINANCING QUESTIONS ANSWERED AT DICK GENTHE CHEVROLET IN SOUTHGATE
Buying a car can be a chore. First, you research the Chevy vehicle you need, and next you must seek out responses to your financial questions. Dick Genthe Chevrolet wants to make car buying in Southgate, Dearborn, and Taylor as easy as possible for you, which is why we supply an auto financing FAQ. We do help those seeking bad credit loans and are offering our Payment Challenge. Our payment challenge simply states that "if you can find a better payment plan, we'll beat it. If you can't get the answers to your questions on this site or interested in receiving bad credit loans, then give us a call at (866) 309-8271 and one of our finance professionals will be in touch.
WHAT DOES ALL THIS AUTO FINANCING JARGON MEAN?
What's APR or Annual Percentage Rate?
- APR is the interest rate attributed annually on the unpaid balance of your auto loan.Â
How is my APR rate determined?Â
- Many factors define auto loan APR rates. One factor is current economic bank rates, another is credit history, a third is your down payment on the auto loan, a fourth is the exact amount you choose to finance, as well as the type of car you're financing and the length of your financing contract.
What is Fixed Rate Financing?
- Fixed Rate Financing is when the finance rate stays the exact same over the life of the auto loan, making your repayments the exact same over the duration of your loan.
What is Variable Rate Financing?
- Variable Rate Financing is when the finance rate changes depending on market trends, making the amount you pay over the duration of the loan fluctuate in accordance with market bank rates.
What is Wholesale Rate?
- The Wholesale rate signifies the rate at which the assignee acquires a retail installment sale contract from Dick Genthe Chevrolet.
Who is the Assignee?
- The assignee is the bank that purchases your auto loan from Dick Genthe Chevrolet.Â
DIRECT LENDING VS DEALERSHIP FINANCING IN SOUTHGATE
What's the main difference between Direct Lending and Dealership Financing, besides from who you make monthly payments to? While direct lending might give you more freedom to look around or compare lender rates, it also can mean more headaches. If you prefer to shop around for other auto financing options in Southgate, Dearborn, and Taylor, Dick Genthe Chevrolet encourages you to do so. We encourage this because we know the more research you do, the more satisfied you'll be with your final vehicle purchase.
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DICK GENTHE CHEVROLET, INC.
15600 Eureka Road
Southgate, MI 48195
- Sales: (734) 250-9240
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