Understanding Auto Finance

Making the decision to purchase a new vehicle is a big one that shouldn't be taken lightly. We want you to make an informed purchasing decision, so here are some basic financing terms you need to know before you sign on the dotted line.
First, let's talk about APR, or annual percentage rate. As the name implies, this term refers to the amount of interest you'll be paying on your loan each year. With a higher APR, you'll be paying much more in the long run.