Auto Finance Terms

Buying a vehicle can be difficult. Not only do you have to be able to have a basic understanding of the way a car works to ensure everything is in working order, but you have to also understand some somewhat complex finance terms to ensure that you aren't getting ripped off. That is why we here at West Herr Chrysler Jeep in Orchard Park, NY want to be sure that you know the basics of auto finance terms.

One of the most important terms to know is the APR. This stands for Annual Percentage Rate which is the amount of interest you will pay per year on the amount financed for your car. Another term to know is "Cosigner". This is someone who is willing to sign on to your car loan to increase the chances of you getting approved. If you fail to pay, the Cosigner is legally obligated to make payments on your behalf.

For all of your financing needs, be sure to stop on by to see us at West Herr Chrysler Jeep in Orchard Park, NY today!

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