Nissan Financing in Concord, NH

Looking to upgrade your vehicle, but don't have the cash to buy a car outright? A car is a big expense and most people don't have thousands of dollars sitting around to buy a new vehicle, that is why you can finance your vehicle and get the car of your dreams. At Concord Nissan, we have a team of finance experts that can help you get an auto loan or car lease so that you can get the vehicle you want. We can get you new or used car financing. Simply fill out our finance application online and you can get pre-approved to finance your next car with Concord Nissan.

Concord Nissan Financing Options 

What does financing a car mean exactly? Financing a vehicle is taking out a car loan that you will pay back over a certain period of time. You will hear terms used such as "loan term", "interest rates", and "monthly payments." When you get a car loan, you borrow a set amount of money for the cost of your car, but you also have to pay that money back with interest. Below, we will talk about all of the components of an auto loan as well as questions people often have about car loans. If you have questions about car loans or want to talk more specific numbers, you can reach out to our expert finance team at Concord Nissan. We are always happy to work through specifics and answer any questions you may have! 

If you do not want to finance your vehicle or get a loan at this time, another option is to lease a vehicle. You can think of a vehicle lease like a long term car rental. You pay a monthly payment to the dealership and get to drive the car for a set number of years, but once your lease term is over, you give the car back to the dealership because you do not own it. 

Nissan Financing vs. Other Options

Where should you get financing for your vehicle? You can get a car loan through a bank, a credit union, or you can go directly to the car dealer and get it through the dealership. The choice is yours and you can pick whichever option feels right for you. There is added convenience in going directly to the dealership because everything you need is all under one roof, and you can pick out the car you want and get approved directly for a loan for that vehicle. 

Qualifying for Nissan Financing

If you are worried about your credit score allowing you to qualify for financing, you don't have to worry! Concord Nissan can help you get the financing you need for your next vehicle whether you have a lower credit score or not much of a credit history.

Advantages of Nissan Financing

Low Interest Rates

Low interest rates can mean that you pay less for the total cost of your loan. With Nissan financing, we can help you get a low interest rate whether it is on your initial loan or refinancing an old loan. Reach out to our Finance Department to get started!

Convenience

Using Nissan financing is incredibly convenient. Find the car of your dreams and get the financing to match that vehicle. You can go to one place to get your vehicle and required financing instead of spending hours securing a loan through a separate bank.

Flexibility

At Concord Nissan, we will work with you to give you the flexibility you want on your car loan. If you want a longer or shorter loan term, we can work with you to get you what you need. Nissan financing can help you get approved for the vehicle you really want. 

Components of an Auto Loan

When you take out a loan for a car, you pay it back in monthly payments over a set period of time. Understanding the components of an auto loan can help you find the loan option that works best for your preferences and budget. 

Down Payment

You can think of buying a car as similar to buying a house, you need a down payment before you can start your monthly payments. Your down payment will depend on the size of the car loan and your credit score. If you have a better credit score, you might not have to pay as much for your down payment. If your credit score is low, you might have a higher down payment and a higher interest rate when you look into financing a vehicle. 

Interest Rate

An interest rate is the cost you pay to borrow the money for your auto loan. A lender can loan you the money to buy a vehicle, but in addition to being required to pay the principal amount of the loan back, you'll also owe interest. Your interest is expressed as a percentage, and your exact interest rate is decided by individual factors. A lender looks at your credit score and your borrowing history to determine what type of interest rate to offer you. Typically, lower interest rates are granted if you have a high credit score, and if your credit score is low, you might have a high interest rate depending on the size of your down payment. 

Loan Term

The loan term is the amount of time you agree to pay back your auto loan. Car payments are normally made every month for the length of your loan term. A common loan term for auto loans is five years, but some people want a shorter or longer loan term. It is important to consider that the length of your loan term has an impact on how large your monthly payments are. The longer the term, the lower the payments, the shorter the term, the higher the payments. 

Frequently Asked Questions

What is an auto loan?

An auto loan is borrowing money to pay for a vehicle, and you will pay that money back over a certain period of time plus interest. 

How much can I borrow for an auto loan?

The amount of money you are approved to borrow depends upon your credit score, your borrowing history, and your income. You will have to fill out an application where you will be approved for a set amount of money for a loan. 

How do I apply for an auto loan?

You can apply for a loan through a bank or credit union, or you can go directly to the car dealership to apply for the loan so that everything you need is in one convenient location. 

Can I refinance my auto loan?

You can refinance your auto loan, which means a lender takes a look at your loan and offers you the current market interest rate for the rest of your loan term. You usually have to wait at least six months into your auto loan to get it refinanced, and you want to be sure you have at least two years left on your auto loan to refinance to actually reap the benefits.