Auto Financing FAQs
Auto Financing FAQs
Columbia Chevrolet
Before you buy or lease a car, it is important to educate yourself about the auto financing process. This will allow you to feel more confident about your purchase or lease, and to make sure you are choosing the financing option that best suits your needs and budget. Our goal is to make the car buying process as painless as possible. Here's a quick overview of the basic steps you can take before you begin the financing process. If you can't discover the answers to your questions here, then call us at 877-681-7885 and one of our finance professionals will be in touch.
Ready to get started? Our open, honest process is designed to put you in the driver's seat. Click here to fill out our quick credit application and your options will be ready in a matter of minutes.
Expect to present some, if not all, of the below information to Columbia Chevrolet when submitting an application for an auto loan.
- Your name
- Social Security Number
- Date of birth
- Current and previous address
- Current and previous employer
- Sources of income
- Gross monthly income
- Financial information that may consist of current credit accounts and other debt obligations
- Credit rating obtained through a credit check
Fixed Rate Financing is where the finance rate stays exactly the same over the life of the auto loan, making your repayments precisely the same over the life of your loan.
APR is the interest rate attributed annually on the outstanding balance of your auto loan.
Many parameters define auto loan APR rates. One variable is current economic bank rates, another is credit history, a third is your down payment on the auto loan, a fourth is the total amount you choose to finance, as well as the type of vehicle you're financing and the length of your financing contract.
Variable Rate Financing is when the finance rate changes based on market trends, making the total amount you pay over the life of the loan fluctuate compared to market bank rates.
The Wholesale rate means the rate at which the assignee acquires a retail installment sale contract from Columbia Chevrolet.
The assignee is the bank that purchases your auto loan from Columbia Chevrolet.
Direct Lending Vs Dealership Financing in cincinnati
What's the key contrast between Direct Lending and Dealership Financing, other than who you make monthly payments to? Direct lending in theory gives you freedom to look around and compare lender rates, but it also can be a hassle. Financing with Columbia Chevrolet implies we find competitive market bank rates, which helps you save time and gets you into your new car faster. If you prefer to look around for other auto financing options in cincinnati, Columbia Chevrolet encourages you to do so. We encourage this because we know the more research you do, the more satisfied you'll be with your final car purchase.
| Monday | 9:00AM - 8:00PM |
| Tuesday | 9:00AM - 8:00PM |
| Wednesday | 9:00AM - 8:00PM |
| Thursday | 9:00AM - 8:00PM |
| Friday | 9:00AM - 7:00PM |
| Saturday | 9:00AM - 6:00PM |
| Sunday | 11:00AM - 4:00PM |
| Monday | 8:00AM - 6:00PM |
| Tuesday | 8:00AM - 6:00PM |
| Wednesday | 8:00AM - 6:00PM |
| Thursday | 8:00AM - 6:00PM |
| Friday | 8:00AM - 6:00PM |
| Saturday | 8:00AM - 12:00PM |
| Sunday | Closed |
| Monday | 8:00AM - 5:30PM |
| Tuesday | 8:00AM - 5:30PM |
| Wednesday | 8:00AM - 5:30PM |
| Thursday | 8:00AM - 5:30PM |
| Friday | 8:00AM - 5:30PM |
| Saturday | 8:00AM - 12:00PM |
| Sunday | Closed |