Skaha Ford's Exclusive Easy Deal
Are you looking to finance a vehicle but are perplexed by the terminology? With so many words and phrases used, it can be challenging to know what everything means and what you are paying for. At Skaha Ford in BC, we understand. Our team strives to explain common car loan terms to eliminate any auto financing confusion with our Easy Deal program.For example, the expression amount financed can mean different things to shoppers. This figure is the actual amount of approved credit that customers can borrow. If you’re buying from a dealership, the amount financed may include all taxes, fees and additional extras, such as an extended warranty or add-ons. However, it does not factor in any down payments, trade-in allowances or cash rebates. Those are deducted from the total.
If you’re saving to buy a Ford or trading in an older model, a down payment or trade-in allowance reduces the amount of money you need to borrow, which improves your chances of an approval. The less you need to finance, also lowers your borrowing costs, including interest charges.
Do you want to know how much you can finance? Our Easy Deal program offers free online credit approvals. To learn more, contact Skaha Ford in BC.
Advertisements and car-buying guides feature all sorts of terms and phrases, which can be complicated for vehicle shoppers to understand. However, Skaha Ford’s Easy Deal program aims to change that. We break down the meaning of common financing terms – like base price – to help our customers make an informed and educated decision.What is a Base Price?
A vehicle’s base price is the cost of the car or truck without any additional features or accessories. It usually reflects the price of the lowest trim of a vehicle, also known as the base model. Dealerships commonly use the base price in advertisements, providing an enticing lower cost of entry. However, it’s also not the final price you can expect to pay – any fees, upgrades or optional features will be additional.
Base price differs from the MSRP, which the manufacturer sets and is the suggested price that dealerships sell the vehicle for. The actual price that the dealer retails the car or truck for is called the sticker price. Depending on current sales or rebates, the sticker price may be lower or higher than the MSRP, but the base price remains the same.
For more car-buying advice, contact our team at Skaha Ford in BC. With our Easy Deal program, you’re in the driver’s seat when selecting your vehicle, choosing your financing and customizing your payment.
For car buyers who have never traded in a vehicle, understanding the process is essential to maximizing the value of their ride. With Skaha Ford's Easy Deal in BC, we aim to simplify the process to help shoppers make an educated and confident selling and buying decision.What is Trade-in Value?
Trade-in value reflects the best price that a dealer offers for a vehicle. This amount is then credited from a new or used car purchase, or the dealer may make a cash trade-in arrangement.
For example, let's say a vehicle has a $13,000 purchase price. If the dealer offers a trade-in value of $3,000 for the unwanted car, this brings the new vehicle's purchase price to $10,000. Not only does this save money off the purchase price, but it also makes it easier for car buyers to qualify for auto financing since they are borrowing a lower amount. In addition, a cash down payment also decreases the amount financed, saving vehicle owners additional interest throughout their loan.
Need help getting approved for financing in BC? Contact our team at Skaha Ford to inquire about Easy Deal, or click here to fill out this quick trade-in form.
The world of auto financing comes with a wide range of terms – and if you’re new to car buying or applying for a loan, it can feel overwhelming. If you can relate, you’ve come to the right place. At Skaha Ford in BC, we take the mystery out of auto loans with Easy Deal.What is a Lien?
A lien is a lender’s claim for repayment registered against the vehicle. It remains on a car until the debt has been paid in full and no balance is owed. According to the Financial Consumer Agency of Canada, only lenders and garages have the right to place a lien, and vehicles can have more than one lien on it.
Before trading in your vehicle, it’s essential to check if it has a lien. If one or more are registered, you must remove the liens before the car can be sold to a dealership.
Need help selling your car, truck or SUV? Now is a great time to trade it in at Skaha Ford in BC. To get started, send us your information by completing this quick online form, then select your next vehicle from our inventory of new and used models. With Easy Deal, you can apply online for financing and select a pick-up time that works for you.
To learn more, contact our team today!
Understanding Financing Terms in Summerland: What Does OAC Mean?
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(Posted on Mar 1, 2022 at 12:32AM )
The terms and phrases used within the auto financing industry can be perplexing to shoppers, especially first-time buyers or those who have never borrowed before. If you’re considering a vehicle purchase, you may have come across the acronym OAC in car advertisements – but do you know what it means? You’ve come to the right place. With Skaha Ford’s Easy Deal in BC, we explain confusing jargon in plain language to help you make an informed and confident purchase decision.OAC is a short form for On Approved Credit. This term is often used with an attractive monthly payment or low-interest rate like 0% Annual Percentage Rate (APR) financing. The lender will consider your credit score to get approved for these special financing offers. If you have excellent credit, your chances of getting approved are higher – however, it may be challenging to get approved for 0% APR financing with a low credit score.
But that doesn’t mean that you should not apply for auto financing. With Skaha Ford’s Easy Deal, you are in the driver’s seat. Not only do you get to choose a new or used model from our extensive online inventory, but you select your financing options and add-ons. We also offer real-time credit approvals for a fast decision. It’s the no-hassle, no-pressure automotive experience you’ve always hoped for.
Contact our team in BC to learn more.
If you are looking to finance a car purchase, you must understand your loan term options. A shorter term means that your loan will be paid off sooner but with higher monthly payments, while a longer term can be more affordable, although you run the risk of owing more on the car than it is worth. This situation is known as being upside down on a deal.
There is a lot to consider when selecting a loan term. That’s why at Skaha Ford in BC, we aim to simplify the vehicle financing process with Easy Deal. Not only do we offer convenient online automotive shopping, but flexible loan terms to connect our customers with an affordable ownership experience.
Generally speaking, loan terms can be anywhere from 24 months up to 96 months (or eight years) in length. When choosing a term, you need to look at your financial situation and budget and find the balance that allows you to pay the loan back without overpaying in interest charged. An excellent place to start is a loan with a 60-month (or five-year) term.Â
Want to see how much you may qualify for your next auto loan? Check out our Easy Deal program, which offers free online credit approvals to simplify your car buying experience. Contact our team at Skaha Ford in BC to learn more!
Car loans come with unique terminologies that can be puzzling if you’re unfamiliar with the jargon. At Skaha Ford in BC, our Easy Deal online automotive shopping and financing program aims to simplify the complicated to provide our customers with a stress-free car-buying experience.Take Annual Percentage Rate (APR) as an example. This term is often confused with a loan’s interest rate, but it has an entirely different purpose and meaning.
APR is the cost you’ll pay each year to borrow money in the auto-financing world. Expressed as a percentage, it includes any fees that you may pay, along with the loan’s interest rate. This calculation differs from an interest rate since there are no fees included in an interest rate – it only reflects the annual cost of borrowing.
If you are unsure if you can afford a car loan, knowing the APR is important because it will help you comprehend how much the loan will cost you in the long run. It’s also a critical comparison tool when deciding between two financing deals. For instance, if one loan has a 5% APR and the other is 6%, you’ll pay more interest on the contract with a more significant percentage.
Our Easy Deal program has a free online credit approval app for a quick decision to see how much you may qualify for. To learn more, click here or contact our team at Skaha Ford in BC for details.
The terminology associated with purchasing and financing a vehicle can be confusing for BC shoppers, especially first-time buyers or those new to borrowing. However, suppose you are looking to apply for automotive financing? In that case, Skaha Ford’s Easy Deal simplifies the process to help you understand the type of loan you are considering and how it may impact your financial future.There are three main components used to calculate car loans: principal, term, and interest rate.
To put it simply, the principal is the lump sum of money that you borrow to pay for a vehicle. It includes the total cost of the car (including any fees or taxes that the dealer may incorporate into the loan) and any options or extras that you add to the purchase. In addition, you’ll pay interest on the principal for the duration of your loan’s term, which is the cost of borrowing. Therefore, it’s the most critical factor to consider when deciding how much you can afford.
If you aren’t sure how much you’ll qualify for, our Easy Deal program offers a free online credit approval to provide you with a fast decision.
To learn more about this exclusive automotive shopping and loan experience, contact our team at Skaha Ford in BC today.
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When financing a vehicle, BC shoppers can choose a loan with fixed-rate or variable-rate terms. Both types of interest rates can be beneficial depending on credit scores, financial situations and comfort levels. Buying a car with Easy Deal from Skaha Ford lets automotive purchasers select the financing they prefer.Fixed-rate auto loans have a set interest rate for the entire term. This type of loan is ideal for buyers who prefer consistent monthly payments and the predictability of a fixed rate. A variable loan, on the other hand, can fluctuate based on current market conditions and the prime lending rate. This type of financing is suitable for buyers that expect interest rates to drop down the road and are comfortable with fluctuations.
With Skaha Ford’s Easy Deal, car shoppers can carefully weigh their options when applying for financing online. It’s a pressure-free experience that puts our customers in the driver’s seat. Not only do they get to choose the vehicle they prefer, but their loan options too.
To learn more, contact our team today to inquire about Easy Deal.
Choose Your Finance and Insurance Products With Easy Deal in Hedley
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(Posted on Jan 22, 2022 at 07:32PM )
The days of sitting in a dealership’s finance office are a thing of the past with Easy Deal from Skaha Ford in BC. Our exclusive shop-from-home program lets our customers browse our extensive inventory, organize financing and schedule a pick-up of their new ride to their doorstep from the convenience of their smartphone, tablet or computer.This program also includes choosing the finance and insurance products our clients desire. For example, some shoppers prefer to arrange car loan insurance during the financing process. This type of coverage will pay off the car loan should a job loss, critical illness, accident or death occur. We also offer extended service plans, pre-paid maintenance packages, GAP coverage and more to simplify the ownership experience.
Knowing which finance and insurance products you require takes time and consideration. With Skaha Ford’s Easy Deal, our no-pressure online car buying program gives you the freedom to explore your options on your terms – and time – before committing.
To learn more, contact our team today or click here to get started.
