- Friendly staff at 8 convenient locations
- Quick approval even if you have been turned down at other dealerships
- Short term loans averaging 30 months
- Affordable down payments
- Low monthly payments
- Affordable vehicles to fit your needs
- Build Your Credit
If you’re shopping for a new car in Phoenix, then you may be wondering, “What does it mean to finance a car?” Financing a new or used car can be stressful, but if you familiarize yourself with the process beforehand, you’ll be better prepared when you visit the dealership. Whether you’re a first-time car buyer or you’ve purchased a few cars, Cactus Jack's Auto is here to help you understand the process. Read more about car financing below, then contact us to see our used vehicle inventory.
The first step in financing a new or used car is to apply for a loan. There are a few loan options to choose from, including unsecured auto loans and secured auto loans. You can apply for a car loan at a few different places in Mesa, but at Cactus Jack's Auto we recommend you apply for a loan through the dealership. Not only will we work with multiple lenders to get you the lowest price possible, but you’ll also receive certain benefits by applying through a dealership. You can begin your finance application online, or you can come into the dealership and apply here. When you apply, these are the factors a lender will look at:
Do you have a low credit score or no credit score? That’s not a problem! Cactus Jack's Auto works with all credit types in Surprise, we can even recommend easy ways for you to improve your credit before you purchase a vehicle.
As we mentioned above, you can apply for a loan at multiple places in Glendale. Once your loan is approved, you’ll want to review your offers from each lender and pick the one that’s best for you. Go over your budget, too. Make sure you have enough for your down payment and that you have enough for your monthly payment. Once you have your budget worked out, choose your lender and get ready to finalize the loan.
Before you finalize your loan and purchase your car, you may need to negotiate on the price. To do this, make sure you use resources like Cars.com, Edmunds, or Kelley Blue Book to look up the retail value of the vehicle you want, then approach the salesperson with your offer. You may go back and forth a bit with terms and prices until you settle on a loan with and an interest rate that works for you. Once you agree on a price and terms, you can finalize the deal. Sign all the necessary paperwork and take possession of the vehicle.
There are a lot of pieces to learning how car finance works. Learn more car buying tips like what happens if you pay off a car loan early or how to trade in a financed car. Then, visit us in Phoenix to browse our vehicle inventory and see the different features that come with each model. We’re sure to find the right car for you!