How to Lower APR on a Car | Andy Mohr Nissan
How to Lower APR on a Car
At Andy Mohr Nissan
Lowering Your APR
Car buying made simple.
A lot goes into buying a car. Other than driving off with your new ride, the best part of the process is finding ways to save you money. You may be wondering how to lower APR on a car loan. It's one of the most effective ways to save you money, but how can it be done? Andy Mohr Nissan is here to help. We looked at ways drivers in Indianapolis, Lawrence, and Speedway can get a lower APR on a vehicle.
What is APR?
So, what is APR?
Those letters seem to be all over your financing papers and auto loan. What do they actually mean? When you finance a car, your APR is your annual percentage rate. The easiest way to understand it is to think of it as the money you're borrowing for your auto loan. It directly affects how much your monthly payments are and the interest rate for your loan. By lowering your APR, you'll usually have lower monthly payments. Plus, your interest rate will go down. This will help you financially in the short term and can help you finish paying off your loan faster. There's lots of reasons why it's a good idea to lower the APR on your car loan.
Ways to Lower APR on a Car Loan
This is highly recommended because it's both effective and helps you with other financial decisions, such as buying a home. No matter what your credit history looks like, its always a good idea to review it and try to improve it before financing for a car. If you're able to pay off any credit card debts, then it'll greatly help your credit score and help you negotiate a better APR. Another way is to get a cosigner who already has good credit. This can help with your payments, as well as with negotiating your rate. A cosigner with a solid credit history working with you shows lenders that you can be trusted to make good on your auto loan. One surefire way to help you lower your APR and finish up your loan faster is to shorten the term. This will make your monthly payments go up slightly, but your interest rate and APR will go down, and your financing term will end sooner.
We have a trustworthy team of experts
Finance Department
We have a trustworthy team of experts in our finance department that will work with you to get the best financing options possible. Whether you want to renegotiate your loan and APR or just have questions about the car-buying process, they'll be able to help you get options that work for you. It doesn't matter what your current credit situation is. Our team has long-standing working relationships with local banks and lenders to help get you a better auto loan. Also, they're always happy to help you renegotiate your loan and length of term. You can apply for financing online to get started on the process, or check out our payment calculator to play around with available rates.
Visit Our Finance Team
For drivers in Indianapolis, Lawrence, and Speedway looking to get a better APR on their auto loan, visit Andy Mohr Nissan. Our finance team is happy to work with you on lowering your APR. To learn more about financing or how to lower APR on a car loan, contact our finance department.