Skaha Ford's Exclusive Easy Deal
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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.
