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What to Expect When Financing a Vehicle | Kennesaw GA | Near Marietta, Acworth & the Greater Atlanta Area
What to Expect When Financing a Vehicle in Kennesaw, GA
Have you already found the car of your dreams? If so, congratulations! The last step is financing, and we’re here to help. Many people don’t look forward to this part of the process, but we’re here to dispel any anxieties you may have. That’s why we put together this list of to-dos, documents to bring and terms to know before you stop by Cobb County Toyota in Kennesaw. You won’t have to face the paperwork alone — our team is available to answer questions, clarify terms and negotiate numbers when you are. So let’s get started!
What do I need to do beforehand?
Before shopping for your next new Toyota or used vehicle, ask yourself these questions:
1. What’s my credit score?
The higher your score, the best chance you have of qualifying for a lower interest rate.
2. What are the interest rates lenders are offering?
Research several institutions before starting the finance process. You’ll make a stronger case in negotiation and, if you’re pre-approved, you’ll be more likely to secure the interest rate you want.
3. What can I afford?
If you know your credit score and have an idea of the interest rate you’ll receive, use an online payment calculator to determine your monthly payments.
What documents do I need to bring?
When you’ve decided on the vehicle you want to purchase or lease, these are the four primary documents to bring with you to the office.
1. Proof of income.
We will need 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.
Any information about your financial obligations or other outstanding loans are needed. Mortgage or lease agreements, credit card statements, bank statements or alimony or child support payments count in your history.
3. Proof of residence.
A mortgage statement or any personalized mail will count as proof of residence.
4. Proof of insurance.
Bring a valid insurance card so we know that your current vehicle is insured and you’ll easily be able to transfer insurance to your new car
And if you decide to finance with another lender and not our finance department, you’ll want to bring proof of your approved loan, too.
What determines my loan terms?
We're glad you asked! Your terms depend on a few different factors. First, we'll look at your credit history and score. Then, we'll consider your income, any debt you have and whether you’re in good standing with your insurer. We'll also run a credit check after you submit your finance application. The better your credit score, the better your terms will be. But don't worry if you're not satisfied with your credit score — we've worked with people in all kinds of situations before. So just complete your finance application today, and our team of friendly finance experts will take care of the rest!
Let’s talk. If you’d like to purchase a vehicle or want to know more about how to finance in Kennesaw, GA, drop by Cobb County Toyota at 2111 Barrett Lakes Blvd., Kennesaw, GA 30144 for a test drive. Or contact us online if you have any questions! We look forward to serving our customers from Marietta, Acworth and the greater Atlanta area.