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.
With the summer season slowly winding down and fall on the horizon, now is a perfect time to shop for a vehicle. Instead of spending warm, sunny days travelling from dealership to dealership to test drive your next car, truck or SUV, take advantage of Skaha Ford’s Easy Deal in BC.
A whole new way of car shopping is here, allowing you to buy your next vehicle from the comfort of your own home using your smartphone or computer. With Easy Deal, you can browse our wide selection of Ford models, tailor your vehicle package and payment options to fit your budget and get approved for financing. If you have a trade-in, you can also have a virtual appraisal completed to determine its value. Now that’s convenient!
Skaha Ford’s Easy Deal delivers a stress-free online car shopping that BC drivers deserve. Contact our team today to learn more or click here to get started.