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Financing

Financing With Felix Sabates Chevrolet Cadillac

We Offer Simple, Fast Financing for Everyone

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Budget Friendly Solutions

We offer a wide range of carefully selected financing options from among the most competitive and affordable lenders available.

Fast Application Process

Our Finance Deptartment will work with you to complete your personalized credit application as quickly as possible.

Honesty and Integrity

Our finance process is completely transparent and our lenders will keep your personal information private.

The Financing Process Explained

Although auto finance decisions may seem complicated, they are actually based on some very basic factors and conditions. When a lender is deciding on whether to offer you financing, they’ll consider the following elements in making their decision:

  1. Your credit score and history. This is important in determining the amount of risk a lender is taking by offering you a loan. It’s also one of the factors in determining the interest rate you will be charged.
  2. Your current employment and income. Having a good employment history and sufficient income tells a lender that you are reliable and likely to pay back your loan.
  3. Your monthly expenses. This will help the lender in determining how much of your income will be spent in paying back your loan each month.
  4. The price of the vehicle you’re buying or leasing. Of course this will determine the amount of the loan, and along with other factors it will determine how much your monthly payment will be.
  5. The amount you’re putting down, including your trade-in. The more you put down toward the purchase of a vehicle, the better your terms will be. A lender looks at the amount of the loan compared to the value of the vehicle. The better the ratio, the less risk the lender is taking.

Of course our lending team will work with you to optimize your loan terms, including making sure you are aware of each of these factors. At Felix Sabates Chevrolet Cadillac, we take the time to explain every step of the loan process. We believe that complete transparency and openness is the only way to do business. We’ll answer all of your questions, and make sure that you understand every option available to you.

What Determines Your Monthly Payment?

Total Amount Financed Number of Months Financed Annual Percentage Rate Monthly Payment Details
$17,500 60 months 10.00 $372 Standard financing
$15,500 60 months 10.00 $335 Reducing 10% of the financed amount equates to 10% less in payments
$17,500 66 months 10.00 $346 Increasing length of loan by 10% equates to a 7% reduction in monthly payment
$17,500 60 months 9.00 $363 A 10% reduction in interest equates to a 3% payment reduction

How Your Credit Score Fits In

Your FICO credit score is a big factor in determining whether a lender will offer you a vehicle loan, and at what annual percentage rate (APR). Your credit score is a number between 300 and 850, with the higher number representing a better credit rating and less risk to a lender. Generally speaking, the higher your score, the lower your APR and your monthly payment. Ask our financing specialists what a small improvement in your score can mean to your APR.

Our loan experts can help you to understand how each of these factors comes into play in getting your monthly payment where you want it to be. We work hard to find the right financing for each of our customers. Let us know how we can help you to finance the Chevrolet or Cadillac vehicle of your dreams at a payment that fits your budget.

  • What to bring with you
  • A valid driver 's license
  • Proof of Insurance
  • Proof of Current Income
  • Proof of Current Residence
  • Proof of Current Phone Number
  • In some cases, you may be asked for additional information. We’ll walk you through every step of the way and respect your privacy and concerns.
  • Payment Estimator
  • Your Monthly Budget
  • Many lenders suggest that you spend less than 15% of your gross monthly income (GMI) on your car payment monthly. Some examples include:
  • $2000 GMI = $300 or less per month
  • $4000 GMI = $600 or less per month
  • Monthly payments normally range from $20 - $25 per $1,000 financed.