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How Does Car Financing Work?

When it’s time to buy a used Toyota near me or new car to enhance your drives around Granger, you can either lease it, pay for it in full, or apply for financing. Are you wondering, what is financing a car? If you’re asking yourself, “What does it mean to finance a car?” or “how does financing a car work?”, the Toyota auto finance team at Jordan Toyota is here to answer any questions you have so you can better understand the financing process for a stress-free and well-informed car-buying experience.

How Does Financing a Car Work?

It’s good to know how car finance works with a new or used vehicle in regards to applying for a loan, whether that’s through a credit union, bank, or the car dealership.

South Bend-area car shoppers can get the application started online, or you can apply for a loan when you’re at the dealership. The things that the lender will look at include:

  • Credit Score
  • Loan Amount
  • Length of Loan
  • Debt-to-Income Ratio
  • Age of the Vehicle

If you know your credit score is low or you don’t have a strong credit history, consider asking a close friend or family member to cosign your loan.

Choose Your Lender

If you are approved for a loan, you may have several options available. When a dealership offers in-house financing, you have the ability to compare their offer to a credit union or bank to see which offer works best for you. Think about how much money you’ll put down and what your monthly payments will be beforehand to ensure that you can pay back the loan. If you’re wondering on the monthly payment amount, feel free to use our auto payment estimator tool that can help give you a better idea of what that’ll be.

Finalize the Loan Terms

Before a loan is finalized, you consider negotiating the final price. Luckily at Jordan Toyota, we offer up-front terms that are catered to work for your budget. Once you close the deal, you’ll sign all of the necessary paperwork and drive home to the South Bend in your new dream car like the Toyota Camry, truck like the formidable Toyota Tacoma, or SUV like the thrilling Toyota RAV4.

Learn More About Car Financing at Jordan Toyota

Osceola and Mishawaka-area car shoppers can get additional information about the automotive finance process when they visit our team at Jordan Toyota. Contact us to learn more about how car financing works, to get vehicle specs from the Toyota Tundra, Camry, or Corolla, or to stop by our Toyota dealership today!


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(574) 259-1981

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920 East Jefferson Blvd. • Mishawaka, IN 46545

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Today's Hours:

Open Today! Sales: 8:30am-8pm

Open Today! Service: 7:30am-5:30pm

Open Today! Parts: 7:30am-5:30pm

Jordan Toyota

920 East Jefferson Blvd. Mishawaka, IN

Phone: (574) 259-1981



Phone: (574) 259-1981

920 East Jefferson Blvd. Mishawaka, IN


Phone: (866) 838-9877

920 East Jefferson Blvd. Mishawaka, IN


Phone: (574) 254-2957

920 East Jefferson Blvd. Mishawaka, IN

Collision Center

Phone: (574) 254-2978

920 East Jefferson Blvd. Mishawaka, IN
41.6725228 -86.1734768
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Jordan Toyota
Jordan Toyota
920 East Jefferson Blvd.
Mishawaka, IN, 46545 United States
(574) 259-1981
Jordan Toyota 41.6725228, -86.1734768.