FAQs About Car Financing

We Answer Your Auto Financing Questions at Kia of Wilmington

Here at our car dealership in Wilmington, DE our finance team is always hard at work to make sure that you're able to get behind the vehicles you want, and that the process of securing payment terms is simple. Many people have questions about financing their vehicles, and we are here to answer them. We've compiled a list of financing FAQs for you, as we hope these will give you the confidence and peace of mind to come see us for all your vehicle needs.

Why is financing a good option?

Unless you're able to pay for the vehicle in full - and most of us cannot - Kia financing helps you get behind the wheel and make a plan toward paying it off or making payments on a lease. With financing for a purchase, you're taking a down payment plus any trade-in vehicle you might have, and using that to secure a loan that you'll make payments on until the loan is paid off. Leasing requires monthly payments to be met for the least terms. Simply put, financing is how you can get behind the wheel and make it affordable for you.

What if I don't have good credit?

Here at Kia of Wilmington, we help drivers in all credit situations. For those with bad credit, that isn't and shouldn't be a deterrent toward getting you a quality vehicle. We offer guaranteed financing to all those in Wilmington and the surrounding area. We will help you get terms for financing and work on your behalf, while also showing you options that are affordable and work within your budget and what you're approved for in our used car lineup.

What would my monthly payment look like?

Monthly payments are going to vary on the vehicle you pick. Within the new Kia lineup there are different price ranges between models and even within the vehicle lineup, so that is one factor to consider. Used cars also have different payment options based on price. It's also based on what sort of down payment you might have for purchase, as well as a trade-in. Leasing is based on many factors including what you can put down, or if you use your trade-in to take off a few payments or lower them. You can be assured that we're going to present you with many options so you can find the best fit for you.

How do interest rates work?

When you take a car loan, the interest rate is the price you pay to borrow the money from the lender you've chosen. That means you pay off the amount of the loan the lender has given, plus added money in interest. It's calculated based on your loan balance when your payment is due, and changes each month based on how much of the loan is left. There are a number of different types of interest, but when you apply for car financing with our team, you can be sure we'll explain it with clarity to you and your unique buying experience.

Any Other Questions? Contact Our Finance Team Today

If you have any questions about auto financing, get in touch with us. We can discuss used car specials, new Kia specials, guaranteed financing and much more for you here at our dealership serving Newark, DE, West Chester, PA, Salem, NJ and Elkton, MD.