What to Expect When Financing a Vehicle | Greenville SC | Near Spartanburg, Anderson & throughout the Upstate

Questions on financing a vehicle? We got your answers.

What to Expect When Financing a Vehicle

in Greenville, SC

Congratulations on the decision to buy a new vehicle. Whatever vehicle you’ve chosen is a great decision, but your next step is coming up soon: financing. If you’re a first-time car buyer or you’ve chosen to buy your previous vehicles in cash, you might not be familiar with the financing process. Even if you are familiar with financing , you might not be familiar with our process exactly. We want to make sure that you’re as comfortable as possible in every step of the process when buying an Audi from us. As our salespeople hand you off to our financing department, you might be concerned about what comes next. Not to worry. Read on to discover more about what to expect when financing a vehicle from Audi Greenville.

What do I need to do beforehand?

Before you start looking for your next new or pre-owned Audi, we recommend that you ponder these questions:

1. What’s my credit score?

The higher your score, the better chance you have of qualifying for a lesser interest rate.

2. What are the interest rates lenders are offering?

Look up rates at multiple institutions prior to beginning the finance process. You’ll make a better case in negotiations and, if you’re pre-approved, you’ll be much more likely to get the interest rate you desire.

3. What can I afford?

If you know your credit score and are confident in the interest rate you’ll get, use an online payment calculator to figure out your potential monthly payments.

What documents do I need to bring?

When you’ve chosen the vehicle you wish to buy or lease, here are the four main documents to bring with you to our office.

1. Proof of income.

We require copies of your pay stubs from your last month’s checks and a summary of what you’ve been paid to date in the past year.

2. Credit and banking history.

We'll need to see information about your financial responsibilities or other outstanding loans. Mortgage or lease agreements, credit card statements, bank statements or alimony or child support payments count in your history.

3. Proof of residence.

This can include a mortgage statement or any personalized mail.

4. Proof of insurance.

We'll need a valid insurance card to show that your current vehicle is insured and that you’ll be able to transfer insurance to your new car.

If you choose to finance with a different lender instead of our finance department, you’ll want to bring proof of your approved loan as well.

What determines my loan terms?

We’re glad you asked. Your unique terms will be determined by several factors, including credit history, credit score, income, present debt and whether you’re in good standing with your insurer. We also take into account your finance application. After you complete it, we’ll do a credit check and ask you income-based questions. It all boils down to whether or not you have a decent credit score: The better the score, the better your terms. But don’t stress — our finance team has handled a lot of credit histories before, so we encourage you to complete your application.

Let’s talk. If you’d like to purchase a vehicle or want to know more about how to finance it in Greenville, SC, drop by Audi Greenville at 200 Duvall Drive, Greenville, SC 29607 for a test drive. We look forward to serving our customers from Spartanburg, Anderson and throughout the Upstate.