Nissan Finance Terms Explained

Shopping for a Nissan car is always an exciting experience, especially when you have the help of an expert Nissan finance team like the one here at Bedford Nissan. When you shop for a new Nissan car here at our Nissan dealership near Cleveland, you’ll get to focus on finding the car that’s perfect for you rather than scratching your head trying to figure out financing. One way to help get you started is by going over some essential finance terms. 

What Finance Terms Mean

Finance: The term financing refers to the act of borrowing money from a bank or credit union to make your car purchase more approachable for a wider variety of buyers. You then pay this money back in monthly installments. 

Down Payment: Before you begin making monthly payments towards your car loan, you will need to make an initial payment called a down payment, which is typically a small percentage of the cost of the car. 

Lease: This is an alternative to buying that allows you to make small payments to drive a new car for 36 months. 

APR: Short for annual percentage rate, this represents the interest you pay on top of the cost of the car. 

Equity: When you buy, you can build up value in your car for a later sale or trade-in, which is known as building equity. 

Credit Score: This value represents your history of taking on and paying back debts. 

Our Finance Department

When you choose our Nissan dealership near Cleveland, you’ll get the help of our Nissan finance department to make your purchase much easier for you. Before you even visit our dealership, you can get much of the work done online by calculating your payments, valuing your trade, and applying for financing. 

Our team can also help you out if you run into trouble, such as if you have concerns about your credit score. Even if you have poor credit, we can work with our financial partners to make sure you get approved at the best rate possible. 

Our Nissan dealers in Bedford are excited to help you get the most out of your car-search and to help you find the right new car for you.