For many Reno, PA drivers, qualifying for auto loans opens the door to a far more expansive range of options. With the right funding products, buyers can secure attractive, well-made, and highly reliable vehicles. At A Crivelli Buick GMC, we want to make it easy for borrowers to make informed decisions when financing their purchases. That's why we're sharing two important auto finance terms that all car shoppers should know.
Fixed-Rate Financing
When shopping for a loan, it's generally best to find one that comes with a fixed rate. Fixed-rate financing means that the interest rate you pay at the start of your loan will remain the same all throughout the loan's lifespan. With this type of funding, your monthly car payment won't increase, and calculating the total amount you'll pay over the lifetime of the loan will prove infinitely easier.
Actual Cash Value
The actual cash value (ACV) of an automobile is its true resale value based upon a number of reputable, independent sources. This will invariably differ from the sales price of a car once dealer fees and other charges have been added in. You can use the actual cash value of your new vehicle to accurately determine your insurance needs.
Categories:
Finance