Explore Common Auto Finance Terms

Car buyers who don't understand basic financing terms often end up paying far more in the long term and also end up regretting their choice in car due to the massive monthly bill they are now stuck with. That is why our experienced team at Honda of Hayward want to be sure that you know the basics of auto financing terms.

First, a down payment is the amount of money you pay towards the car before it is financed. This is money that accrues no interest and saves you money over time. Next, car buyers should know about depreciation. Depreciation is the loss in value of something over time. Typically, the depreciation on cars is much faster than other items.

If you have any further questions or are looking for an experienced finance team for your next vehicle, then be sure to either give us a call to schedule an appointment or stop on by Honda of Hayward today!

 

 

Categories: Finance