Kirkland Nissan

Most Common Nissan Vehicle Questions In Seattle, Tacoma, And Bellevue Washington

Fife, What's The Best Way to Refinance a Nissan Pathfinder?
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(Posted on Oct 1, 2018 at 05:05AM by Patrick Wensink)

Hey Patrick,

I own a Nissan Pathfinder, and my friends have been telling me I should refinance my loan. They claim it saves them all sorts of money. It all seems too good to be true. Are there any catches I should look out for?

-Derek

Hey Derek,

If you feel like rates have dipped since you started your loan, it absolutely can save you cash to transfer elsewhere. But, you are correct, there can be catches in this process. Here are a few to keep an eye out for.

First off, look at the specifics. Lenders often have guidelines that will prohibit you from refinancing with them. Some snags include the age of the car, mileage, the amount of outstanding debt left.

Once a new one is secured, make sure the fine print still makes it worth it. Most places have a fee to transfer and the amounts differ wildly. Also, inquire about any pre-payment penalties. These companies are in business to collect on the interest, so some will ding you for completing it early. Crazy, right?

Those are some good starting places for your Pathfinder. Let me know if there are any other questions I can help with.

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Car Financing Questions

Seattle, What's The Difference Between a Loan and a Lease
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(Posted on Sep 19, 2018 at 06:38AM by Patrick Wensink)

Hi Patrick,

I have been dreaming of buying a new Nissan Maxima. I think Iâ€™m finally ready, but I canâ€™t choose between buying and leasing. Whatâ€™s the difference?

-Rashida

Hi Rashida,

Nice! You are going to have a blast with that car. This choice of financing comes down to personal expenses and your plans for the future. Itâ€™s very similar to the difference between buying and renting a home.

Letâ€™s look at this example of a 36-month loan and lease for a $30,000 automobile. First, the regular payment is about double when you buy. After that three year period, while factoring interest, the owner has paid $31,304. The other invested $16,250 over the same span. The big difference is, however, what happens after the time is up. This option means you own the car and never have to put another penny into it.

The second choice requires that you turn in the car for an alternate one and work out a new financial agreement. Basically, it comes down to what you can afford each month. Beyond that, knowing your preferences with this automobile is helpful. Everybody has their own preferences.

Let me know if you have any more questions.

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Car Financing Questions

Do Bellevue Drivers Know Why a Down Payment Is Important?
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(Posted on Aug 27, 2018 at 05:42AM by Patrick Wensink)

Dear Patrick,

I have been dreaming about the new Nissan Leaf I test drove last week. However, Iâ€™m wondering if I can save a little money and simply not make a down payment. Whatâ€™s the worst that could happen?

-Celeste

Hi Celeste,

Thatâ€™s a great choice. I can understand why you are so eager to take this Leaf home. Buyers often feel quite a pinch every month if they donâ€™t make a down payment.

To be clear, some lenders donâ€™t require any money up front, but borrowers will usually get slapped with a huge interest rate for the honor.
Instead, experts strongly recommend putting whatever you can up before the sale. This not only lowers the monthly dues, but it also gives you a lot more leverage. Banks and other car loan companies will often give a better percentage when there is a chunk of change up front.

Donâ€™t forget, selling your current vehicle and using that can help if your account is a little tight. Whatever amount sounds manageable will ultimately make an impact in the long run.

Let me know if there are any other questions we can answer.

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Car Financing Questions

Hey Kirkland! Do You Know The Difference Between Loan Interests for a Pre-Owned Nissan Leaf?
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(Posted on Aug 13, 2018 at 05:26AM by Patrick Wensink)

Hey Patrick,

I have my eye on a pre-owned Nissan Leaf, and Iâ€™m trying to decide how to finance it. What is the difference between pre-computed versus simple interest loans?

-Ariel

Hi Ariel,

Thatâ€™s an awesome choice for a car. I can see why you are so eager to get rolling (pun intended!). These two types sound confusing but are actually perfect for customizing schedules depending on whether or not you aim to pay it off early.

A pre-computed loan means that each deposit made for the life of the note is calculated out exactly. So, if you have a five-year plan it will always be that amount every month. However, this type of borrowing is not ideal if the aim is to pay off the car in less time, because you will not save on interest.

If you are aiming to fluctuate regular deposits and maybe complete the note early, a simple loan is the way to go. This method of lending re-calculates the interest based on the outstanding debt on a daily basis. It will save money if you are able to contribute extra each month.

Hopefully, you know which is right. Let me know if you have more questions.Â

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Car Financing Questions

Do You Have The Right Loan for a 2018 Nissan Maxima?
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(Posted on Aug 13, 2018 at 04:55AM by Patrick Wensink)

Hello Patrick,

Iâ€™m all set to buy a new Nissan Maxima, but financing is making my head spin. Can you explain the difference between secured and unsecured auto loans?

-Scott

Hi Scott,

Thanks for reaching out for such an important decision. I have good news for you: the difference is pretty basic. It essentially boils down to what happens if you fail to pay.

First, letâ€™s discuss a secured loan. What this means is that the lender needs collateral in order to fund the purchase. Usually, there is a lien put on the vehicle being purchased, but sometimes another car or a house can be used instead. Regardless, the borrower will get that item repossessed if they cannot adhere to the schedule.

An unsecured one, on the other hand, does not require any assets be put up against the value of the money lent. If payments are not made, legal action is the only way for the lender to recoup their loss. This type tends to have a higher cost and interest rate, due to the added risk on the bankâ€™s side.

As long as the bills get paid on time, it comes down to what is the best fit.

Let me know if there are any more problems I can research for you!

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Car Financing Questions

Hey, Seattle! Should You Lease Your New 2018 Nissan Sentra?
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(Posted on Jul 26, 2018 at 06:15PM by Kiera Dailey)

Dear Kiera,

Iâ€™m thinking about getting a 2018 Nissan Sentra and have been looking into financing options. What exactly does it mean to lease a vehicle?

Thanks!
Â

Allie

In a nutshell: when you lease instead of buying a vehicle, your payments go toward a portion of the actual cost of the car. Because youâ€™re not charged for the total price, your monthly installments are lower. If you like the brightest new toys or donâ€™t have a large deposit at the time of purchase, then this alternative may be the best bet for you.

Leasing may mean lower monthly costs, but it isnâ€™t without drawbacks. Reading the fine print, therefore, is crucial. The most glaring disadvantage is that, after you finish the payments, you have no property to show for it. Although you can purchase after the term of your agreement, the price is locked in and thereâ€™s no chance for negotiations. Another thing to consider is your driving style and distance. If youâ€™re hard on your car or you enjoy taking long trips, you can incur extra mileage and wear-and-tear fees. These add up quickly!

All in all, leasing is a great option that allows you to get a bit more bang for your buck up front. Though it offers some advantages and freedoms over buying, it all depends on what you value in car ownership.

Need further information, Allie? Contact me and I'll walk you through the leasing process.
Â

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