While buying or leasing a vehicle in Vernon, CT, there are certain auto finance terminologies that are used by the dealer. It is important for the customer to understand these terms very well. Our dealership’s goal is to make vehicle financing as simple as possible for our customers, so we go out of our way to explain everything about auto financing. The following are examples of common auto finance terminologies:
Certificate of Title – this is the proof of car ownership issued by the Department of Motor Vehicles.
Consigner – in the case of a vehicle loan, an additional party that bears equal obligation is referred to as a consigner.
Credit – If you are considering getting a car loan, your credit score is an important factor to consider. This will determine your ability to service the loan once it has been granted to you.
Credit Bureau – refers to a company or agency that maintains a record of your credit. The dealership will consider your credit score before advancing an auto loan to you.
