Are you in need of a car but maybe don’t have the best credit? There is no need to worry about this when you shop at All Star Dodge near Fenton. At All Star, they offer a guaranteed financing program that helps everyone get financing for a car, truck, or SUV that they find at All Star. We want to take a closer look at this today.
What Is Guaranteed Car Finance?
It is typically a free service and is currently available primarily to borrowers with poor or bad credit. Companies offering guaranteed car finance allow buyers to request the amount of credit needed to purchase a new car. The terms of the agreement with guaranteed car finance lenders are not limited to purchasing the vehicle from the lender or dealer. A new buyer is permitted to shop elsewhere and bring in their outside loan agreement for financing.
Terms of the Program
“The loan agreement is a contract for hire arrangement where the finance company takes ownership of the vehicle during the loan period. The company charges a monthly rental fee to the borrower in exchange for use of the car. The monthly rental fee is comprised of the loan amount plus an interest and financing charge.”-carsdirect.com
Remember, this is just a basic understanding of how the guaranteed financing program works. For a more detailed explanation and understanding on how the guaranteed financing program works at All Star, talk to a member of their finance team. These friendly and knowledgeable staff members would be more than happy to help you learn more about the guaranteed financing and help you to apply. Any questions, they would love to answer those as well!