When you finance a vehicle at a dealership, you’re paying the dealership the value of the vehicle over a series of payments. The interest is the amount you’re paying on top of the value of the car, and it’s expressed as a percentage rate. APR is a common term you might come across, and it includes your interest charges and any other loan fees.
When you finance your next vehicle, you’ll be offered loans of different lengths, so “what loan term should I choose?” is a question we hear a lot. For example, you might see a loan with a 4.9% interest rate offered at 48 months, 60 months, or 72 months. Keep in mind that if you choose the lengthiest loan, you’ll pay more over time, since you’ll be paying the same interest rate each month. Most experts recommend figuring out the maximum amount you can spend each month and choose the loan that matches that figure.
Once you’ve browsed our selection of new MINI models, be sure to apply for financing online. We’re easy to reach at 1402 Santa Monica Boulevard in Santa Monica, CA, just a short drive from Culver City and Mar Vista. You can speak with our sales department at (424) 581-6464 if you have any questions, so contact us today to get started!
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(424) 581-6464
Call Now1402 Santa Monica Boulevard • Santa Monica, CA 90404
Get DirectionsOpen Today! Sales: 9am-8pm
Open Today! Service: 7:30am-6pm
Open Today! Parts: 8am-6pm