Category Archives: Financing

Image showing a toy car climbing a pile of coins

How Much Does Interest Rate Affect Total Vehicle Cost?

How Does the Interest Rate Determine the Overall Vehicle Cost?

Getting your hands on your favorite car has become nothing less than a cakewalk these days. Banks and financial institutions are ever ready to loan their customers the required amount. However, the interest rate on car loans and the total cost of the vehicle are parameters that are intricately related to each other. Therefore, while applying for a car loan, it is important that you understand how the interest rate that you sign up for shall play out in determining the total cost of the vehicle. Understanding how the interest rate on your car loans affects the total cost of the vehicle shall help you make informed decisions about purchasing a brand-new car or a pre-owned luxury vehicle.

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Does Credit Score Exist Outside of America?

Does your credit score follow you outside America?

A credit score, in its simplest terms, is a numerical figure that determines a consumer’s creditworthiness in the financial market. Consumers with a high credit score are more likely to be eligible for loans, whereas those with a low score might find it difficult to find potential lenders. However, not everyone living outside America might be familiar with the concept of a credit score. Different countries have different yardsticks to measure the creditworthiness of the consumers. Therefore, while you might not have every country using the credit score to determine the eligibility of their consumers for different financial transactions, they shall have similar yardsticks to assess an individual’s financial health.

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Close-up on a calculator screen with letters reading "APR"

What are the pros and cons of financing a used car?

Positives and Negatives of Financing Vs. Buying a Pre-Owned Vehicle

If you’re making a substantial purchase any time soon, you’re probably leaning towards financing it. For big buys such as houses and cars, financing has emerged as the way that people make it doable.

Still, there are downsides to financing, and sometimes paying for something in full right off the bat is a wiser option when possible. Since they’re cheaper, used cars are easier to pay for in full than a new car, but most customers still opt to finance them. Customers paying us a visit here at Mercedes-Benz of Gilbert sometimes ask for our input: is financing a pre-owned vehicle a good idea? What are the pros and cons?

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A variety of vehicles arrayed on a car lot under the sun

Where can I find used Car Financing in Gilbert, AZ?

Flexible Financing on Pre-Owned Vehicles in the Phoenix Area

Getting a used car can be a smart option, as it saves the buyer money due to its lower cost and significantly reduced depreciation compared to that found on a new ride. Though used vehicles are easier to purchase in full upfront than new models, most drivers still choose to finance them.

If you’re a driver in the Gilbert region looking to finance a used vehicle, you’re likely wondering: where can I find flexible financing for pre-owned cars in the Gilbert, AZ?

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