Financing 101 at Scott Family of Dealerships

Buying a vehicle doesn’t have to be complicated – especially with our team guiding you every step of the way. Whether you’re upgrading to a newer model or applying for your first vehicle loan, we make auto financing straightforward and stress-free.

At Scott Family of Dealerships in Allentown, PA, our finance center is committed to helping you find the loan or lease that makes sense for your lifestyle. We’ll break everything down in plain language, walk you through your options, and set you up with tools to get started from home.

Prefer to come in? Stop by our showroom, and one of our financing experts will work with you one-on-one to help you move forward with confidence.

What It Means to Finance a Vehicle

Financing a vehicle means borrowing money from a lender – usually a bank, credit union, or the manufacturer’s financing partner – to purchase the vehicle. You’ll repay that loan in monthly installments over a set period, which includes interest.

Here are a few key terms to know before getting started:

• Monthly Payment: The amount due each month based on the total loan, interest, and term.
• APR (Annual Percentage Rate): Your yearly interest rate on the loan.
• Loan Term: How long you’ll take to pay back the loan, typically 24 to 72 months.
• Principal: The original amount you borrow before interest.
• Down Payment: A lump sum paid upfront that reduces the total loan balance.

Your Financing, Your Way

There’s more than one way to finance a vehicle – and we’re here to help you find the right fit. Whether you’re buying new, pre-owned, or looking at certified pre-owned, we’ll explain all your options clearly and help you choose what fits your lifestyle and budget.

• Support for all credit backgrounds.
• Flexible leasing options.
• Trade-In Value Tools with instant results.
• Quick online pre-approval.
• Wide network of trusted lenders.

You’ve got a few different ways to go when it comes to financing. We offer competitive rates on new vehicle loans, plus secured loans that are backed by the vehicle itself. If you qualify, unsecured loan options are available too. Want lower monthly payments and the flexibility to upgrade more often? Leasing could be a great fit. We also have financing options for certified pre-owned vehicles, including longer terms and available special offers.

What Determines Your Vehicle Loan Rate?

When lenders review your application, they use several factors to determine your interest rate and loan terms. Here’s what they look at:

• Your credit score and credit history.
• The length of the loan term.
• Your down payment amount.
• The type of vehicle (new or pre-owned, make and model).
• Broader economic trends, like federal interest rates.

Boosting your credit score and putting more money down upfront are two smart moves that can lead to lower interest rates and more favorable loan terms.

What Makes Scott Family of Dealerships Stand Out

We know auto financing isn’t one-size-fits-all, and we’ll never force you into a mold. At Scott Family of Dealerships, we listen first and build your financing plan around your real-world needs.

When you work with us, you’re working with a supportive team, user-friendly online tools, and a transparent and reliable process. Wherever you are in your financing journey, we’re ready to help.

Start online by filling out our secure finance application, or visit us in person to talk through your options.

Start Your Financing Journey at Scott Family of Dealerships

Whether you’re browsing for a new Chevrolet or thinking about refinancing your current vehicle, Scott Family of Dealerships in Allentown, PA, is here to help make the numbers work for you. Let’s make financing feel easy.

Apply online today or visit us at our Allentown showroom to get started.

Disclaimer: This content was drafted with AI assistance for initial drafting, reviewed by a subject-matter expert for accuracy, and edited by our team of writers and editors.