Blog @WellesleyToyota

How your Credit Score Affects your Toyota's Financing

Posted by Josh Chang on Wed, Aug 27, 2014 @ 08:00 AM

When purchasing a new vehicle, you have three options for paying for your vehicle: paying cash, financing it, or leasing it. While most people might say that paying cash is the first choice so you own your vehicle outright, not everyone has that much money to spend on a vehicle purchase. One option in this situation is to finance the vehicle, where you receive a loan and pay it back to the bank over time, at a certain interest rate. The third option is leasing, which is essentially a 2-3 year rental of the vehicle, where you'll be paying less than if you bought the car and sold it after the same time period.

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Topics: Wellesley Toyota, Toyota Financial Services, Finance, Interest Rate, Zero Down, APR, Credit Score, Lender