At St. Cloud Toyota, we work hard to provide all of our customers with a stress-free car-shopping experience, which means our sales staff will give you and your family the undivided attention you deserve. So when we finally get to pair you up with one of the many Toyota cars that’s in our Waite Park, MN dealership, we will know that you will drive off our lot with a smile on your face, because we’re confident that when we matched you with a vehicle, it’s a vehicle that’ll keep you happy and satisfied for a very long time.

We know that shopping for a new car is altogether life changing, so one of the ways we lessen the stress is by having one of our finance center team members guide you throughout the whole ordeal. We do this because we know that the main stress inducer for our customers is making the right financial decision, whether it’s a new model or a Toyota certified pre-owned vehicle.

Here are some terms for you to get familiar with before stepping into our Toyota dealership:

Interest rate: Based on a percentage, an interest rate can either be fixed or variable and is charged by the lender to use against the amount of your loan, usually added to your monthly car payment.

Finance: The act of borrowing from a financial institution or bank to purchase your car. To pay off a car loan is to “finance” a car.

Down payment: The amount of money you pay upfront to secure the loan to purchase the car.

Term: A contractual agreement based on amount of years that it will take to pay off your loan. The shorter the term, the lesser the interest rate.

Equity: The worth of the car after taking out the money you owe on said car. Each time you pay off your loan, you build equity.

Our main goal at St. Cloud Toyota is to make sure you are happy and comfortable with your vehicle purchase. Our Toyota financing center can help you make the right financial decision and elaborate further on any of these financial terms listed above. Don’t hesitate to call us at (320) 227-8052 or visit us at 418 2nd St South. We’re ready to help you.