The more you know about the Land Rover finance process, the more confident you’ll feel the day it comes to take home your next Land Rover vehicle. Land Rover Jacksonville is the dealership that has your back, with resources and tools for financing with peace of mind. Learn how your loan terms affect your payment needs at our dealership.
Term Length and Monthly Payments
There are several important factors to account for when financing a vehicle. The more you are able to put down, the more you are going to save over time, which is why it’s recommended to put down 20% on the day of purchase. Your term length also has an effect on how much you pay per month. The longer your term length, the smaller your monthly payments will be, though you can always pay more than is due.
Term Length and Credit Score
Before deciding on your term length, it’s important to check your credit score. Your credit tells lenders how reliable you are to lend money to, which is why drivers with higher credit scores can typically access more favorable terms. If your credit is lower, you may not have the option of a longer term length, as the lender will want to see their loan returned more quickly.
Term Length and Interest
While there are benefits to longer term lengths, mainly the smaller monthly payments, it’s important to consider how term length affects interest. Longer vehicle terms tend to have higher interest rates than short terms. Accrued interest can really add up over time, so it’s a factor you’ll want to account for when setting your budget.
Begin the Land Rover Financing Process in Jacksonville, FL
No matter what your vehicle financing needs might be, you’ll get the support you deserve at Land Rover Jacksonville. We’re dedicated to matching drivers with the right vehicle at the right price for their lifestyle and driving needs. Submit your application to get started.