North Park Lincoln Answers Your Financing Questions
At our Lincoln dealership in San Antonio, we understand that deciding between buying vs. leasing a new car can be a difficult decision. That's why we're here to answer any questions you may have and to provide you with an effortless car-buying experience.
To facilitate this, we've compiled a list of frequently asked questions and answers to help you make an informed decision. These responses -- which come direct from the experienced finance experts who staff our showroom -- will no doubt make it easier to determine what's the best purchase option for you. Read what our finance specialists have to say, then plan your visit today.
Auto Financing Q&A
01I've heard a lot about leasing. Is leasing for me?
The Lincoln Red Carpet lease program offers great, flexible terms that work well for many of our guests. You can select from various mileage limits that fit your driving habits, and you'll have great peace of mind knowing that you have warranty coverage during all or most of the term. Our guests love the effortless experience of returning a vehicle every 3-4 years for a new Lincoln model that boasts the latest features and, of course, that new car smell!
02How much cash down payment do I need to finance or lease a car?
There is no simple answer here, as every client's situation is unique. Ultimately, a down payment can help lower your monthly payment and improve your equity position in your vehicle. We are happy to help guide you through the decision, and you may need no down payment at all!
03What interest rate do you offer?
We partner with many reputable financial institutions to offer our clients competitive rates. Lincoln Automotive Financial Services regularly offers Lincoln specials that often fall well below the market rate. Our team of Business Managers is here to provide you with more details on our latest offerings!
04Can I terminate my lease early?
Yes, terminating your lease early is very similar to terminating a retail loan early. We can help you determine your payoff balance and make this process simple for you. We are happy to offer you a trade value or even purchase your leased vehicle outright, with no purchase necessary.
05If my credit score is low, can I still finance a car?
Yes, although we cannot guarantee credit approval, we work with many reputable financial institutions to offer you competitive options. This financing consultation is complimentary and can be very helpful in determining your exact purchase terms.
06
What additional costs are associated with buying a new or used vehicle?
Costs that are not included in the posted price of a vehicle include Texas state sales tax and any applicable title, license, registration and dealer fees.
07
Can the dealership get me a better interest rate than my pre-approved rate from my bank?
We work with many lenders and can often secure a better interest rate than the individual's pre-approved rate due to the amount of business we do each month with our lending partners. We recommend our customers let us check with our lending partners to ensure the lowest rate possible.
08
Can I finance a vehicle without credit history?
Yes, it is possible to secure financing for a vehicle even without a credit history. However, there will be other requirements the lending institution requires, such as debt-to-income, loan-to-value and payment-to-income ratios. Sometimes the lender may also require a qualified co-applicant in order to approve financing.
09
Can I refinance my vehicle later to reduce my monthly payments?
While this depends on a variety of factors, refinancing a car loan can be an option to potentially reduce your monthly car payments.
10
Can I add an extended warranty to my vehicle purchase?
Yes, our Business Managers can provide you with available Extended Service Plans for your vehicle purchase. The cost of these plans can be added to your total financed amount, allowing you to pay them off over time. You can also pay separately in full, whichever you prefer.
Lincoln Dealer Near Me
We believe in providing you with the best possible support for all your auto financing needs. If you have any further questions about our new Lincoln specials or would like to schedule a test-drive, please don't hesitate to contact North Park Lincoln. We look forward to helping you take home the perfect Lincoln Aviator or Navigator today.