Browsing for Nissan finance offers can be enjoyable, but you need to be prepared to do it right. Otherwise, you’ll likely struggle to find a reasonable price for your budget or be saddled with unforgiving terms. Courtesy of the Bedford Nissan team, here are five common Nissan financing mistakes to avoid.
Not Budgeting
Always know how much you can spend monthly on a loan before shopping. Otherwise, you may be unable to make your monthly payments.
Not Knowing Your Credit Score
You need to know what your current credit standing is, as it can be a deciding factor as to whether you can get solid Nissan financing. Our dealership can work with you even if you have a low credit rating, but you must know where you stand ahead of time.
Extending Your Terms Too Long
It may be tempting to look for a longer financing period, as the monthly payments will be lower. However, this means you’re paying more in interest over time — which will sometimes offset what you save in monthly payments.
Skipping the Down Payment
Even if a down payment isn’t required on your loan, putting at least 20% down at signing is always a good idea. This reduces your principal and subsequently lowers your monthly payments and interest accumulation.
Not Getting Pre-Approved
The best way to increase your odds of getting a good financing offer is to seek pre-approval. If you’re accepted for a pre-approved loan, you can have an offer in hand when you visit the dealership. Plus, the process will go by much more quickly.
Apply for Nissan Financing in Bedford, OH
Our team is happy to go over Nissan financing with you, helping you avoid these pitfalls before they trap you. Contact the Bedford Nissan finance team today to learn about best practices or get pre-approved for a financing offer.
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