9 August 2021 10:30 pm / Road Trip Drivers Buy a Car Finance a Car

A Guide to Vehicle Financing

Financing a new vehicle is a good idea for a multitude of reasons. Not only does it allow for lower upfront costs and help build your credit, but it also significantly increases your chances of getting a high-quality vehicle that will last. Still, the financing process can be a bit complex for those with zero experience in banking and finance.

Many dealerships will use complicated verbiage that you don’t always feel like you can trust. Others might pull excess credit checks, damaging your credit score in the process. At BC Drive, our dedicated financial professionals will work with you every step of the process to ensure you get the best deal, the lowest interest rate, and a vehicle that's perfect for your lifestyle. We handle the complicated parts of financing while keeping you informed from the first meeting straight up until your new car is in your driveway!

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The Variables

The total cost, terms, and interest rate are the major players to keep in mind when it comes to calculating your car payments. The total cost includes any service fees (which we're always transparent about) and optional add-ons you'd like with your vehicle. Terms typically run anywhere from 2 to 6 years, with shorter terms yielding higher monthly payments. Interest rates are calculated as the percentage the specific lender decides to charge for the loan. These rates usually depend on the level of risk the lender is taking on the loan. Factors like your credit score, income, current debts, size of the loan, etc., will determine your interest rates.

Fortunately, at BC Drive, we work with the most affordable and flexible local lenders that offer competitive rates to individuals with every type of credit status imaginable. Moreover, banks generally view vehicle financing as low risk as they can quickly repossess the car in the event of non-payment.

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Let Tania and the Team Take Care of You!

Here at BC Drive, we’ll pair you up with a dedicated finance professional that will work with you to get you approved for the best financing loans and interest rates that match your budget and will allow you to drive away in the car of your dreams! Our expert team will handle all the complexities while keeping you in the loop every step of the way.

Ready to find the right car at an affordable cost? Let’s get you set up today! Submit your application, and you’ll be assigned a personal finance professional to start the process. Have more questions about financing a vehicle? Don’t hesitate to give us a call or send us a message anytime!

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