What to Expect When Financing a Vehicle | Greenville SC | Near Asheville, NC, & Columbia, Spartanburg, Anderson, SC, & the Upstate

What to Expect When Financing a Vehicle in Greenville, SC

Are you a first-time car buyer? Or someone who has always bought vehicles in cash? Then you may not be familiar with how the financing process works to buy a vehicle. A lot depends on your financial situation, your down payment and which vehicle you’re interested in buying. Whatever your needs are, our finance experts can help! They’ve worked with a variety of credit scores, so no matter what yours looks like, they can assist you in driving home your dream Volkswagen. If you’re unsure what to expect when financing a vehicle from us here at Steve White Volkswagen, read on to learn more.

What do I need to do beforehand?

Searching for your next new or used Volkswagen? We suggest you start here:

1. What’s my credit score?

Qualifying for an interest rate depends on this score. Just remember: the higher your score, the lower your rate.

2. What are the interest rates lenders are offering?

This is so important to know before starting the process! It gives you more bargaining power if you have a good rate, and it helps you be aware of how much you might potentially be spending.

3. What can I afford?

If you’re not sure what might be an affordable monthly payment, feel free to use our payment calculator to find out.

What documents do I need to bring?

Congrats on getting this far. Check out the items we recommend you bring:

1. Proof of income.

It’s important to bring recent pay stubs that show what you’ve made in the last year.

2. Credit and banking history.

We also need information about your finances or other loans you may have. This could include mortgages or leases, credit cards, bank statements, alimony or child support payments.

3. Proof of residence.

We’ll accept many forms, but the most common are a mortgage document or piece of mail with your name on it.

4. Proof of insurance.

We need to know that your current model is insured and you can easily transfer your insurance to your new vehicle.

If you decide to finance with another lender rather than our finance department, you’ll need to bring proof of your approved loan in addition to these other documents.

What determines my loan terms?

This is more of a common question than you think… Your terms will be unique to you, meaning that they’re influenced by many components like credit history, credit score, income, debt and whether you’re in great standing with your insurer. Your application is also considered as part of this process. When you finish the finance application, we run a credit check and also ask you questions based on your income. Your credit score is at the root of your terms, but even if you don’t have the best score, our finance team is here to help!

Let’s talk. If you’d like to purchase a vehicle or want to know more about how to finance it in Greenville, SC, drop by Steve White Volkswagen at 100 Duvall Drive, Greenville, SC 29607 for a test drive. We look forward to serving our customers from Asheville, NC, and Columbia, Spartanburg, Anderson, SC, and the Upstate.