Frequently Asked Questions: VW Financing
Get Answers to Frequently Asked Questions About Auto Financing from the Team at Tom's Volkswagen of Union
Since we are one of the preferred Volkswagen dealers near Newark, NJ, we pride ourselves in being the place where car shoppers can go to get answers to all of their questions about any topic in the world of automotive. One of the subjects that many folks find quite intimidating is auto financing. Many people don't understand it, and are wary of it when they buy or lease a new vehicle.
The finance center at Tom's Volkswagen of Union, located at 2155 Route 22 West in Union, NJ, is here to provide you with the answers to many of the most frequently asked questions we get about car financing. If you have any additional questions, you can always contact one of the finance professionals at our dealership.
Frequently Asked Auto Financing Questions
Below are a list of auto financing questions and their answers that you can peruse from your home in Kenilworth, NJ. Our finance team is committed to our customers having a transparent and pleasant experience when they buy or lease their next vehicle. This list is a step toward ensuring that happens when you make the short drive from Edison, NJ.
Why is Financing a Good Option?
Financing your vehicle allows you to break up the total cost of the vehicle into smaller, more manageable installments. Whether you choose to buy or lease, it is much easier for most folks to fit a smaller payment into their budget than come up with the overall cost of the vehicle. Additionally, financing allows you to build your credit, which makes it easier to achieve other financial goals. Apply for financing with our VW dealership!
What if I Don't Have Good Credit?
Many people delay coming to our dealership from nearby Elizabeth, NJ because they feel like poor credit will stand in their way of getting a new car. While credit challenges can make it more difficult to get approved for an auto loan or Volkswagen lease, our finance team has assisted many customers in successfully obtaining affordable car financing. We work with many lenders, some of whom specialize in helping folks who are looking for auto financing with bad credit.
What Will My Monthly Payment Be Like When I Buy My New Car?
A variety of factors go into determining your monthly payment. The cost of the car, the loan term, and your interest rate are all factors in how much the vehicle will cost you per month. Our finance team will do whatever it can to get you the best possible rate and term for your individual situation.
How Do Interest Rates Work?
An interest rate is a reflection of the risk the bank or credit union feels it is taking on by lending you money. If you have experienced credit challenges in the past, or have a high income-to-debt ratio, you should expect that you will be paying a higher interest rate or money factor on your auto loan or Volkswagen lease agreement.
Can I Buy or Lease a New Volkswagen Vehicle for No Money Down?
It is possible to buy or lease a new Volkswagen model with no money down. Whether money down is required will depend on the credit approval you receive from the bank or credit union. Our dealership will do what it can to try and get you the best auto financing possible for you.
Does Tom's Volkswagen of Union Offer Financing Offers and Lease Deals on New Models?
Our dealership always has financing specials and lease offers on new Volkswagen models for you to explore. Many of these promotions expire monthly, so it is a good idea to take advantage of any deal that fits your budget on a new vehicle you are interested in.
Contact the Finance Center at Tom's Volkswagen of Union
The finance center at Tom's Volkswagen of Union knows that car financing can be a complex subject for many car shoppers. Reach out to the finance team at our dealership by visiting us from your home in nearby Springfield, NJ, so we can be your guide to a successful experience buying or leasing your next vehicle.
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