Car Finance Center in Plano TX

Welcome to Huffines Hyundai Plano's Finance Department, your auto loan and car lease resource. We're eager to provide financing for your new car, or we can assist in used car financing. Check out our online car loan calculator for an instant car loan rate. Then, proceed to our online finance application.
All types of credit, from good to bad, can qualify for an auto loan. No credit, no problem! We will work with you to secure a no credit car loan if your situation demands it. Huffines Hyundai Plano has strong relationships and is committed to finding you the perfect car loan company to suit your car finance needs.

Low interest car loans are available for customers with existing loans. We can help you refinance your car loan or adjust the term of the contract. You're just a step away from approved car financing!

Are you in the market for a new or used vehicle but are unsure if you can afford it? Consider financing your next vehicle purchase. At our Hyundai dealership in Plano, we offer convenient and affordable financing options to fit your budget and driving needs. Ready for a new ride? Take a look at our overview of car financing to know what to expect and how to contact our finance center in Plano, Texas.

What Is Car Financing?

Owning a vehicle is necessary if you need reliable transportation to and from work or school or a dependable car for your growing family. However, depending on your financial situation, buying a new car may be a challenge. That's where car financing comes in. 

When you finance a vehicle, you may borrow money from a financial institution such as a bank or credit union. This process is called direct lending and will help you pay for the vehicle. You may also secure a car financing loan from a trustworthy dealership where you intend to purchase the car, known as dealership financing.

How Does Car Financing Work?

Instead of worrying about having the exact cash amount to purchase the vehicle outright, you can take out a loan to buy it. This borrowed money typically has a loan term length of three to six years, within which the lender expects you to repay it. Some loans may extend to seven years or be as short as two years. Still, factoring in the term length is important because it can determine the cost of your monthly payments. 

When you reach a deal with the lender, you sign an agreement to repay the loan with interest. The interest rate can vary depending on your financial status. When determining your monthly payment, lenders will look at your credit score, history, and loan length. The car's value and annual percentage rate also determine how much you'll pay monthly. Shopping around for the best car financing option that fits your budget is essential if you want to save money.

Car Financing Options

Available car financing options depend on your lender. They may provide special prices, rebates, or discounts for new customers. Some car dealerships offer incentive programs such as cashback on specific makes and models for a manufacturer's incentive. You could also consider trading in your current vehicle for a new one and using its value to lower the overall cost.

At our Hyundai dealership in Plano, TX, we're always offering new finance specials to save you money. We also have discount programs for military, first responders, and college graduates. Our sales and finance staff can give you peace of mind to get a car. We'll help you avoid stress with our quick and efficient financial services and happily answer any questions you may have. If you want a speedier option, check out our online finance application. 

Our excellent customer service extends to our good relationships with local financial institutions. We work together to find the perfect car loan that suits your financial needs. We also offer low-interest loans if you have an existing loan. In this case, we can assist you with car loan refinancing or by adjusting the loan's length. You can rest assured knowing you have a vehicle that meets your lifestyle needs while focusing on an affordable and convenient repayment plan with Huffines Hyundai Plano.

Best Ways To Secure Car Financing

If you're still feeling unsure about the car financing process and if it'll work for you, consider the following tips to set yourself up for success:

Get a Copy of Your Credit Report

Your credit score determines your odds of receiving loan approval. Your score determines the interest rate added to your monthly payments if approved. The first step in the car financing process is to get a copy of your credit report. Use this to understand your financial standings and provide the information to your prospective lender. A good credit score is 670 or above, but a quality car dealership will still work with you to secure a financing option regardless of your score. Contact our finance center at Huffines Hyundai Plano to see how we can help.

Consider Providing a Down Payment

A down payment is a good way to save money in the long run if you can afford it. Applying a down payment to your initial purchase can reduce the amount of your monthly payments. It can also increase your chances of loan approval since it shows that you're financially responsible. We recommend saving at least 10% to 20% of the vehicle's asking price.

Find Out if You Need a Cosigner

If you have bad credit, check with your lender to see if they require you to have a cosigner for the auto loan. A cosigner takes on equal responsibility for the loan contract and is expected to take on the repayment if you cannot. This option may also be suitable if you're a young driver or student who hasn't had a chance to build up your credit history yet.

Make a Budget and Stick to It

The last thing you need is extra stress regarding your finances. A simple way to avoid this is by choosing a car that fits your budget. Consider the vehicle's sticker price, taxes, registration fees, and insurance costs to understand the car's cost. Then, determine what your monthly payments will be when you secure an auto loan. Try our online payment calculator or rely on our expert sales team to help you decide which vehicle and financing option is best.

Finance Your Car at our Hyundai Dealership

Come to our Hyundai dealership if you're looking for new Hyundai cars, trucks, and SUVs. We have an impressive inventory to suit your needs. We'll help you finance your new vehicle by reviewing the available options and payment plans. Even if your credit could use improvement, we're happy to work with you to find the right financing for you. We also have an awesome lineup of used cars in our inventory to fit anyone's budget needs. Have you found your perfect vehicle? Give us a call at 972-867-5000 to schedule your test drive today.