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Ride into Summer with a New Vehicle

 
 

 

Ride into Summer with a New Vehicle

 

 

Summer is a great time to buy a new vehicle! The weather is perfect for outdoor activities like fishing, boating, and riding 4-wheelers and side by side. If you're considering purchasing a new vehicle, now is the time to do it. You can finance your purchase with a consumer loan from Flora Bank & Trust to get your new wheels in time for summer.

What to consider when financing a new vehicle

When financing a new vehicle, there are a few things to consider.
 

  1. What is your budget? How much can you afford to spend on a car each month?
  2. What kind of vehicle do you need? Are you looking for a sedan, SUV, or truck?
  3. What is the interest rate? The lower the interest rate, the less you will pay in interest over the life of the loan.
  4. Finally, what is the down payment? Higher down payments will lower your monthly payments but may require you to save more money upfront. 

Considering these factors, you can choose the best financing option for your new vehicle.

How to find the best interest rate for your needs

If you're in the market for a new car, you're probably looking for the best interest rate on your auto loan. After all, the lower the interest rate, the lower your monthly payments. But how do you find the best interest rate for your needs?

You'll need to consider a few things, including your credit score, budget, and affordability. Let's take a closer look at each of these factors:
 

Credit score: Your credit score is one of the biggest factors lenders will consider when determining your interest rate. The higher your credit score, the lower your interest rate will be. So, if you're looking for the best interest rate, it's essential to ensure your credit score is as high as possible. You can check your credit score for free online.

Budget:  Another critical factor to consider is your budget. How much can you afford to spend on a new car? Once you know how much you can afford, you'll be better positioned to negotiate a reasonable interest rate.

Affordability: Finally, you'll need to make sure you can afford your new car's monthly payments. 

 

"The golden rule of car buying is that the car’s price should not exceed 35% of your gross annual income"

Tips for completing the loan application process quickly and easily

At Flora Bank & Trust, we are here to help make the process quick and easy so our customers can enjoy their new vehicle as soon as possible. Here are a few tips to help make the process go smoothly:


To help make the process go smoothly, gather all of the necessary documents before beginning the application. Information that will be needed includes the vehicle purchase price and VIN, seller information, and income information like a pay stub.

Be sure to fill out all fields completely and accurately. Incomplete or inaccurate information will delay the processing of the loan.


Our customer service representatives are always happy to help if you have any questions. We want to ensure our customers understand the process and feel confident in their decisions.


Following these simple tips makes the loan application process quick and easy. At Flora Bank & Trust, we are here to help our customers every step of the way. Contact us today to learn more about financing your new vehicle.

 

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