It’s more exciting driving off the lot of our Valencia Lexus dealership in a brand new or pre-owned Lexus car than it is deciding how to pay for the vehicle. While some people choose to pay for a new car in cash, the majority opt for financing. Here at our Lexus finance center at Lexus of Valencia, our finance professionals are happy to share our Lexus finance tips and keep the process as pain-free as possible.

Get Pre-approved

Before even visiting our dealership, we recommend getting pre-approved for a car loan. You can do this directly on our website simply by inputting some contact information and employment information. If you successfully get pre-approved, it will allow you to determine your interest rate.

Know Your Credit Score

Your credit score is one of the most significant factors that determine whether you will get approved for a loan and, if you do, what the interest rate will be. Unlike a mortgage, you can still get a car loan on a model like the Lexus IS350 with bad credit, but you will be stuck with a higher interest rate.

Keep the Term Short

While saving money on your monthly payment may seem like a good solution by opting for a longer loan term, doing so can cost you money in the long run. The faster you pay off a loan, the less interest you will pay over time.

Large Down Payment

It’s essential to put money down when you first buy a car. A common rule is to put 20 percent of the car’s total amount as a down payment. Ready for your next new Lexus vehicle? Get the ball rolling on your Lexus loan or lease by visiting Lexus of Valencia today.