When you’re on your car-shopping journey for a new Toyota car, the last thing you want is to get dragged down by the stress of financing a Toyota vehicle. That’s why our team of experts here at St. Cloud Toyota are here to offer personalized, helpful service during your car-shopping process. Visit our Waite Park, MN Toyota dealership today to experience great service from start to finish. To help get you prepared for Toyota financing, here are some essential finance terms to get familiar with.

Finance: When you finance a car purchase, it means you are borrowing from a financial lender to help pay for your new car. You then pay back your lender in monthly installments, plus some fees.

Down Payment: For most finance agreements, you are required to pay a designated percentage of the cost of the car upfront before you make monthly payments.

Interest: The lender will charge fees for you to finance with them in the form of a percentage rate of your monthly payments, which is called “interest.”

Lease: When you want to drive a new car without being responsible for the full cost, you can lease it. This is like a long-term rental during which you make monthly payments that allow you to drive a new car for a set term, which is usually 36 months.

Trade-In: You can sell your current car to the car dealership when making a new car purchase in order to get a significant reduction on the cost of the car. It also makes for a smooth transition between vehicles.

Our Finance Department in Waite Park, MN

Our team members over at our Toyota finance center are always happy to answer any questions about the financing process. We can help you secure a loan at a competitive rate even if you have little credit. We also always make sure to provide a fair value for your trade-in, so you can get an amazing deal on your new car purchase. Plus, you can easily value your trade on our website, allowing you to accurately plan for financing and get you ready to make a purchase and drive home in an exciting Toyota vehicle.

Apply for financing online today and head over to your local Toyota dealer in St. Cloud, MN to test drive a new Toyota car that could be all yours!