Automotive financing is one of those tricky topics that many talk about but few actually completely understand. Here at Land Rover Northfield, we know that there’s nothing more exciting than driving off our lot in a new Land Rover SUV, but before you do, the reality is that you have to find a way to pay for it. It’s true that some drivers near Chicago, IL can afford to pay for a new Land Rover vehicle upfront with cash or credit, but most have to take out an auto loan. Here’s a quick overview of how the auto financing process works.
When you buy a new or pre-owned Land Rover SUV, you’ll be directed to a finance expert in our Land Rover finance center. You’ll decide how much you can pay upfront as a down payment, and then the rest of the cost of the vehicle will be your loan principal. In addition to paying back a small amount of the principal each month, you’ll also be charged interest on top of that. The amount of interest (known as the APR) varies based on a variety of factors, including your credit score, the lender, and the cost of the vehicle.
Our car finance experts are dedicated to working with you to find a financing plan that’s right for your needs and budget. If you’re ready to get the ball rolling, you can fill out a car finance application right here on our website. We look forward to helping you with all your automotive needs at our Chicagoland Land Rover dealership.