Finance
Auto Loans, Leases & Car Financing in Springfield, TN
At Reiselman GMC, our finance department wants to help you have a great car shopping experience. Our team works closely with each client to ensure you receive outstanding customer service and even better rates for your next vehicle. We serve customers in and around the greater Springfield area, so you can rely on us to provide exceptional service, no matter where you live.We offer a wide range of financial tools for our customers. Our goal is to equip you to find a new or used car that you love, at a great price.
Our Finance Department
The finance department at Reiselman GMC offers extensive financial services so you can choose the best option for you. Regardless of your current credit score, the trade-in value of your vehicle, or whether you need a loan, our team is here to help.
We offer the following services:
- Competitive rates.
- Quick approvals.
- Value-added services.
- Extended warranty programs.
Valuing Your Trade
If you're hoping to trade in your current vehicle before buying your next car, it's important to value your trade. Our dealership determines the current value of your vehicle based on age, function, and ability to resell the car. You can put the amount of your trade-in vehicle toward the purchase of a new or used car from our dealership.
At Reiselman GMC in Springfield, we use the Kelley Blue Book Trade-In tool so you can calculate what your current vehicle may be worth. Then, you can connect with our finance team to see if trading in your car is the right financial choice for you.
To value your trade online, you need the make/model, VIN number, and license plate number of your vehicle.
Using the Payment Calculator
To determine what your monthly auto loan payments might be, use our online payment calculator. This tool allows you to input information so you can see the potential cost of an auto loan in comparison with your purchasing power. Purchasing power refers to the value of a trade-in, along with the total down payment you make on a vehicle.
The calculator is a great place to start if you're a first-time buyer or if you want to trade in your current vehicle. You can see interest rates, compare different term lengths for an auto loan, and include the value of your trade-in.
While the payment calculator offers potential rates, our finance team can help you find actual rates that work for you. Contact our finance team if you want support in using or understanding the payment calculator.
Accessing the Online Credit Application
To speed up the process and get your new car on the road, you can access our online credit application. This application helps you get pre-qualified for a loan on your next vehicle. You can contact our finance team if you need guidance or support with this online form. Here's how to access this application online:
- Navigate to the menu of the Reiselman GMC website, in the upper right corner.
- Select the "Finance" tab from the list of options.
- Then, click the "Get Pre-Qualified" tab.
- Once the application loads, you can download it, fill it out, and send it back to us.
How To Apply for Financing
There are a few options for you if you're planning to apply for financing. Whether you choose to buy a used or new car, you can benefit from financing that works with your budget and lifestyle. You can work directly with a bank or private lender to secure a loan, or you can speak with our finance team to find the rate that's right for you.
For Tennessee drivers, you must be at least 18 years old to apply for and get an auto loan. While your credit score is one metric used to determine the features of your auto loan, we equip our finance team to work with you regardless of how high your credit score is. If you're applying for financing for your next vehicle, here are a few tips to keep in mind:
Save for a Down Payment
One of the best ways to lower the cost of your monthly payments is by saving for a down payment. While any down payment helps, a larger down payment lowers the total cost of your monthly payments and shortens the repayment period.
Budget for Your Loan Payments
As you prepare to pay monthly for your auto loan, try to budget accordingly. Make sure you agree to a loan that you can afford so you can stay on top of payments from month to month. Creating a functional budget is a great way to manage your payments and pay off the loan more quickly.
Get Pre-approval
It can take a few days to gain approval for a loan, so consider getting pre-approval. If you have pre-approval before you visit our dealership in Springfield, we can help you shop for a car within your budget. This is a great choice for buyers who want to adhere to a budget, or who want to speed up the buying process.
Find a Co-signer
Another tip for finding an affordable car loan is to get a co-signer. A co-signer is an individual who agrees to take responsibility for the auto loan if you're unable to pay. Adding a co-signer can decrease your interest rate or lower your monthly payments.
Build Your Credit Score
If you're hoping to finance your new or used vehicle with an auto loan, it's helpful to build your credit score before you purchase. You can build your credit score by paying your bills on time, or by paying down the balance on your credit card. While a higher credit score might simplify the process, we commit to finding a financing plan that works for you, no matter your credit score.
As you shop for a new or used vehicle at Reiselman GMC in Springfield, we're here to help. Our finance team is eager to provide support as you look for a financing option that suits your budget. Our goal is for you to find a great car for a stellar price. We hope to see you in the dealership soon.