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New cars We work with a credit union who should be able to get you very good rates. You';ll have to join, but it should be worth your effort. Used Cars: We work with an online leader, no need to join a credit Union

Here's how they work:

  1. Choose a car

    • Example price: $30,000

  2. Make a down payment

    • You pay part of the cost upfront.

    • Example: $5,000 down

    • Amount borrowed = $30,000 − $5,000 = $25,000

  3. Get approved for a loan
    The lender looks at factors like:

    • Your credit score

    • Income

    • Debt

    • Employment history

  4. Agree on loan terms
    The loan includes:

    • Principal: The amount borrowed (e.g., $25,000)

    • Interest rate (APR): The cost of borrowing (e.g., 6%)

    • Loan term: How long you have to repay (e.g., 60 months)

  5. Make monthly payments
    Each payment covers:

    • Part of the interest

    • Part of the principal

    Early in the loan, a larger portion of your payment goes toward interest. As time passes, more goes toward reducing the principal.

Example

Suppose:

  • Car price: $30,000

  • Down payment: $5,000

  • Loan: $25,000

  • AP

send an email to seanhouli@gmail.com with your name and phone number,

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