Financing information
Interest rates are extremely important to many car buyers. No doubt about it, the interest rate you get on your loan can often influence whether or not the monthly payment fits within your budget.
Although it is impossible to predict an exact interest rate without pricing and credit information, you will almost always qualify for a better rate and term with Key Auto Group than anywhere else in New Hampshire.
Here's why: Key Auto Group maintains cohesive partnerships with over 30 separate lending institutions of all sizes. These partnerships allow us to provide our customers with the lowest possible finance rates and most competitive terms. Our lending network includes a variety of institutions throughout the region.
Here are some of the things that might influence your interest rate:
1) Your own personal credit history: Those with great credit history will usually qualify for the best finance terms.
2) The year of the vehicle you're financing: As a general rule, the newer the vehicle, the lower your interest rate. This speaks to the level of risk the bank is taking by offering financing on the vehicle you've chosen. The newer the vehicle, the lower the likelihood you will have to spend money on repairs.
3) The mileage on the vehicle you're financing: As a general rule, the lower the mileage, the lower the rate. This is similar to the year of the vehicle.
4) The type of vehicle you're financing: Although this is very rare, some banks favor certain makes/models over others.
5) Where you're purchasing your vehicle: Some dealer groups, like Key Auto Group, have the ability to help you qualify for lower rates than you would at other places.
6) The amount of cash you're applying toward the purchase: Contributing a cash down payment to an automobile purchase often positively influences your interest rate because it decreases the bank's risk position in the transaction.
"What if I have bad credit?"
The best part about Key Auto Group is that we are able to help customers of all credit types and this goes back to our motto, Car Buying Made Simple. No matter your situation, we have a lender that will be willing to work with you and a fully-staffed finance department that wants to help you find the right car, right payment, and the right situation overall. So how do we do this?
1) Our lending network trusts that we will create deals that a) work well for our customers and b) work well for our lenders. Our lenders trust us and know we're going to be 100% compliant with their lending guidelines, so we're able to make loans other dealers can't.
2) Our lenders know our cars are well-conditioned, most with fewer then 80,000 miles. Therefore, they are more likely to give loans to our customers, because they do not believe our customers will be hit with expensive repair bills. We offer free warranties on our cars which provides an extra level of protection for you and our lending institutions.
3) We don't put people into too much car. We are 100% compliant will all debt to income guidelines, and we will not give you more than you income documentation supports.
4) We collect all of your information up front, creating more of a "loan package" than a "loan application." For this reason, our lenders are much quicker to approve our loans.
"What if I'm upside down in my trade?"
1) It is not abnormal for us to help people out of significant negative equity situations. We once helped someone out of a vehicle that was worth approximately $11,000 less than their loan amount.
2) Again, this goes back to our lending relationships and our ability to fit you into the right vehicle. Some cars on our lot are going to be far more conducive to fixing your negative equity situation than others. We will identify those cars for you and make your life so much easier by only showing you options that will work for your particular situation.
3) Even if you're upside down, we might be able to lower your monthly payment because newer vehicles are easier to finance. This means we might be able to give you a longer period of time to pay for your vehicle, reducing that monthly investment drastically.
"What if I'm in the middle of a bankruptcy?"
1) We have finance programs for customers who are currently in bankruptcy, and although this situation requires more steps, we're willing to help you.
