How to Get a Car Loan

September 30th, 2021 by
Car Loan


In today’s society, owning a vehicle is next to paramount for getting around, making it to work, and meeting social obligations. For most people in and around Sunnyvale a car, truck, or SUV is typically the second largest investment they’ll make, so it makes sense that when securing the funds to buy a car that getting a helping hand from a lender would come into play. If you have further questions about how to get a car loan, review our guide below and then make sure to reach out to our expert finance team for assistance!

Be Aware of Your Credit Health & Score

As with most large lending situations, a bank or other financier is going to want a report of your credit score – a number that represents your ability and likelihood of paying back a loan. This information will be crucial in determining things like your interest rate and loan term length. (A cursory Google search will turn up plenty of reputable sources for obtaining your credit report – but beware of scams and information phishing on suspicious sites.)

Work With the Right People

Some people around Morgan Hill will suggest that you apply for as many bank’s loans as possible, thus widening your chances of securing a better interest rate. While you do have the option of going from bank to bank, we recommend saving time and effort by letting the experts in our Finance Department handle the leg work of reaching out to different lenders. We work with tons of local and national institutions to help you secure optimal financing for your new or used vehicle selection. Feel free to reach out to our team at (408) 944-5237 and get started today! Another way to save even more time applying for loans is to use our awesome pre-qualification form online. (Don’t worry – filling out the form will not impact your credit score.)

Select a Car in Your Budget

Once you’ve worked with our Finance Team to secure a possible lender, it’s time to select the vehicle you’re wanting to buy! At Victory Honda of Morgan Hill, just a short trip from San Jose, we’ve got you covered with an impressive selection of new Honda models and plenty of used cars from all sorts of manufacturers! We also suggest having a look at our cycle of new vehicle specials, where you’ll find stellar deals on our selection!

Select Your Preferred Loan

Now that you’ve done the work of applying for loans and you’ve selected your vehicle— it’s time to sit down and select the loan you’d like to sign on to. Keep these helpful tips in mind when selecting a loan:

  • Additional Fees: Make sure you’re aware of all fees contributing to the final cost. These include taxes, registration fees, and the possibility of an early payoff penalty.
  • Loan Term: The term of your loan is the length of time you’ll be making payments until the loan is concluded. A longer loan term (even with a lower rate) can end up being far more expensive, so make this decision wisely.

Ask Us Anything About Financing!

Now that you have had the opportunity to learn more about how to get a car loan, we’d like to invite you to our Morgan Hill showroom to discuss your vehicle and financing needs. Our friendly team is ready to help you with everything from test drives to loan searching. Reach out to us online to start by making an appointment.


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