Frequently Asked Questions About Texas Auto Financing
If you have questions about Texas Auto Financing or buying a new or used car using financing, you've come to the right place. Here are some of the most frequently asked questions about financing your auto loan.
What Kinds of Loans are Available through Texas Auto Financing?
All kinds! You can receive loans for new vehicles, used vehicles or refinances for vehicles you are currently paying for.
Should I Trade-in My Old Vehicle or Sell it Myself?
Typically you will get more money if you sell your vehicle yourself. This is because dealers must take your vehicle, have it cleaned (even if you have it cleaned yourself), and worked on in various ways to make it presentable for sale after they buy it from you. The cost of this work will be deducted from any amount they offer you. Even if your trade in is “junk” they still will have to pay to have it scrapped. Your best bet if you have the time and patience is to sell your trade-in yourself and use that amount toward your new vehicle down payment.
Do You Give Auto Loans?
No. This site serves as a referral source for a network of lenders looking to provide vehicle loans but no loans are offered directly by TexasAutoFinancing.net or its owning company.
What Size Down Payment Do I Need?
A good estimate for a vehicle down payment is about 20%. The closer you can get to this number (or the farther above it you can get) the greater your negotiating power will be for getting a favorable vehicle loan.
Why Not Just Use Dealership Financing?
Financing available through auto dealers typically has much less favorable terms than those available through pre-approval or your local bank or credit union. This is because the dealership usually inflates the price of the loan slightly in order to recoup their costs of processing the loan and paperwork when you sign (as well as make a tidy little profit). In addition, getting financing through the dealership puts all of the chips on the table in the dealer's favor when it comes to negotiating with you.
Can Only Texans Get Loans Through This Site?
No. Anyone who is interested in receiving a quote for a new or used vehicle finance is welcome to fill out the form in order to receive quotes from our network of national lenders.
Are all of the Lenders in Your Network in Texas?
Some of them are. We network with lenders all across the Lone Star state and the rest of the nation as well. Whichever offer most interests you of the quotes you receive, you can rest assured that the lender is licensed and bonded to offer loans in your state.
They are saying 0% Financing at a Dealership Here in Town – Isn't that Cheaper?
It would certainly be cheaper, if you could actually get the loan. Very few people actually qualify for the extremely strict requirements they place on those 0% APR offers you hear about on the radio or see on television, and there is no sliding scale. Either your credit is impeccable and you receive the 0% or if it is not, you will be treated to a much higher interest rate for your vehicle loan.
Won't the Loans I am Offered Through this Site be More Expensive?
No. There is no additional charge or fee added to the quotes you receive through Texas Auto Financing. You can rest assured when you use our form to receive quotes from local and national lenders that the quotes you are being offered are free of markup.