Applying for car financing can seem daunting, but it’s easier than it seems. Avoid these common mistakes, then come in and talk to our Mazda financial team at Sansone Mazda to find out more.
Not Reviewing Your Credit
Your financier will request your credit report as part of your application process, but the numbers on that page may not define your current creditworthiness. Debt recently paid off, for example, takes a little while to appear on your report.
Before you apply for financing, make sure to review your credit score to ensure there aren’t any mistakes. If you’ve taken steps to improve your credit that haven’t appeared on your report yet, bring all relevant documentation and explain the situation clearly.
Choosing the Wrong Term Length
Choosing the wrong term length for you and your budget can have a snowball effect down the line. Longer terms offer lower monthly payments, but more interest builds up over the course of the loan, increasing your expenses over time. Consider your priorities and make sure you’re choosing a term that fits your budget. Many financial experts recommend a four-year loan term.
Rushing the Process
After the exciting experience of picking out your new car, the more mundane work of filling out applications and signing papers may seem slow. However, make sure to read the fine print of anything you sign. In particular, make sure you review any additional fees, and ask our financial experts to explain anything that you don’t understand.
Apply for MAZDA Financing at Sansone MAZDA
At Sansone Mazda, we want to make applying for financing quick and painless. Come down to our Woodbridge, NJ, Mazda dealership and talk to our finance team about applying for Mazda financing today!
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