Whenever you shop for your future vehicle, it's common for drivers to check out all of their finance options here in Peoria, AZ. So, what do you need to know when you shop for your future vehicle? Here are some common vehicle finance FAQs.
Q. If I lease a car, what do I do when my lease is up?
You can either return your car, pay off the vehicle, or extend your lease
Q. Do I need good credit to shop at Mercedes-Benz of Arrowhead?
A. No, you don’t need a good credit score. We accept all sorts of credit, good or bad.
Q. What happens to the car if financing doesn’t go through?
A. Typically, the car is returned to the title owner, usually the dealership.
Q. Do I need to get pre-approved before I shop for my car?
A. It is always a good idea to get pre-approved for any large purchase you plan on making, including buying or leasing a car.
Q. What does APR mean for car financing?
A. APR stands for Annual Percentage Rate
Q. Is it cheaper to buy or lease a car?
A. You’ll most likely have a higher monthly payment if you buy, but overall, you may end up paying more if you lease.