Ask a Finance Expert: Your Auto Financing Question

GMC Finance FAQs

What are current interest rates to buy a car?

Interest rates can vary based on your credit score, loan term and the type of vehicle you're purchasing. To get the most accurate and up-to-date information, we recommend speaking directly with our finance experts. Contact our GMC dealership near Pocatello to discuss current rates and how you can secure the best auto financing for your needs.

How do I get a good interest rate?

Securing a good interest rate involves several factors:

• Credit Score: A higher credit score typically results in a lower interest rate.
• Loan Term: Shorter loan terms often have lower interest rates.
• Down Payment: A larger down payment can reduce your interest rate.
• Vehicle Type: New vehicles may have better rates compared to used ones.

Our GMC finance team can guide you through these factors to help you get the best rate possible.

How much of a down payment do I need to finance a car?

While down payment requirements can vary, a general rule of thumb is to aim for 20% of the vehicle's purchase price. However, our team at Liberty GMC can work with you to find flexible down payment options that fit your budget. Apply for GMC financing near Pocatello today to explore your options.

Does my credit score impact my loan rate?

Yes, your credit score significantly impacts your loan rate. Higher credit scores typically qualify for lower interest rates, while lower scores may result in higher rates. If you have concerns about your credit score, our team can offer advice on improving it and finding suitable financing options to ensure you drive home in the new GMC truck or SUV you want most.

I have a low credit score -- can I still finance a car?

Absolutely. At Liberty GMC, we believe everyone deserves a chance to own a reliable vehicle. Our new car finance team specializes in working with customers with various credit backgrounds. We offer bad credit car loans in Idaho and can help you find a financing solution that works for you.

I don't have a credit history yet -- can I still finance a car?

Yes, you can still finance a car without a credit history. We offer first-time buyer programs designed to help those new to credit establish a positive credit history. Our finance experts will work with you to find the best options available.

What's the best length for a car loan?

The ideal loan term depends on your financial situation and preferences. Shorter loan terms (36-48 months) usually have higher monthly payments but lower overall interest costs. Longer terms (60-72 months) offer lower monthly payments but may cost more in interest over time. Our team can help you determine the best loan term for your needs.

Can you offer a better interest rate than my pre-approved rate?

We encourage you to share your pre-approved rate with us. Our experts will work diligently to match or beat that rate, ensuring you get the best deal possible. Contact us to discuss your pre-approval and explore your options.

Can I reduce my monthly car payments down the road?

Yes, there are several ways to reduce your monthly car payments:

• Refinancing: You may qualify for a lower interest rate after improving your credit score.
• Extended Loan Term: Extending your loan term can lower your monthly payments, though it may increase overall interest costs.
• Making Extra Payments: Paying more than the minimum can reduce your principal balance faster, potentially lowering future payments.

Can I sell my car while I'm still paying it off?

Yes, you can sell your car even if you still owe money on it. The process involves paying off the remaining loan balance with the proceeds from the sale. Our team can guide you through this process to ensure a smooth transaction.

Can I add a warranty when I buy a car?

Absolutely. We offer various warranty options to provide you with peace of mind. Whether you're interested in an extended auto warranty or want to learn more about additional GMC coverage options, our team can help you choose the best plan for your needs.