facebook
Jordan Toyota

Search New Vehicles...

- or select -

How Does Car Financing Work?

car-salesman-passing-key
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 like how to buy a car in another state 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!

 

More from Jordan Toyota

  • Toyota 2020 Chicago Auto Show News

      There’s no limit to what you can do with a Toyota, and this fact was on full view at the 2020 Chicago Auto Show. New trim levels and new available packages loomed large at this year’s event, but if you’ve been paying attention to the Toyota brand’s premium and off-road focused lineups, then you…

  • How Much Can a Toyota Tacoma Tow?

    When shoppers visit Jordan Toyota near Niles to explore the new Toyota Tacoma, they often ask, “How much can a Toyota Tacoma tow?” After seeing many in-action photos of the 2020 Toyota Tacoma, we’re not surprised. Visit Jordan Toyota, and we will go over everything that you can expect with your new vehicle, as well as the…

  • 2020 Toyota Tundra Towing Capacity

    Nothing has the towing power of a full-size pickup truck quite like the new Tundra. And the 2020 Toyota Tundra means business. What is the towing capacity of a Toyota Tundra? Its maximum towing capacity is a whopping 10,200 pounds when properly equipped. Just think of how much work gear you can tow to Granger,…

Saved
Saved Vehicles ×

SAVED VEHICLES

You don't have any saved vehicles!

Look for this link on your favorites:

Save

Once you've saved some vehicles, you can view them here at any time.

Contact
Contact Us ×

(574) 259-1981

Call Now

920 East Jefferson Blvd. • Mishawaka, IN 46545

Get Directions

Today's Hours:

Open Today! Sales: 9am-6pm

Open Today! Service: 8am-4pm

Open Today! Parts: 8am-4pm

Jordan Toyota

920 East Jefferson Blvd. Mishawaka, IN

Phone: (574) 259-1981

http://maps.google.com/?q=920%20East%20Jeffereson%20Blvd.%2C%20Mishawaka%2C%20IN%2046

Parts

Phone: (574) 259-1981

920 East Jefferson Blvd. Mishawaka, IN

Sales

Phone: (866) 838-9877

920 East Jefferson Blvd. Mishawaka, IN

Service

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
[schema type="organization" orgtype="LocalBusiness" url="www.jordantoyota.com" name="Jordan Toyota" description="" street="920 East Jefferson Blvd." city="Mishawaka" state="IN" postalcode="46545" country="United States" email="jhayden@jordanauto.com" phone="(574) 259-1981" logo="https://di-uploads-development.s3.amazonaws.com/jordantoyota/uploads/2017/08/JordanToyotaOGImage.jpg"]
Jordan Toyota
Jordan Toyota
920 East Jefferson Blvd.
Mishawaka, IN, 46545 United States
(574) 259-1981
https://di-uploads-development.s3.amazonaws.com/jordantoyota/uploads/2017/08/JordanToyotaOGImage.jpg
Jordan Toyota 41.6725228, -86.1734768.