Learn These Auto Finance Terms to Help You Find the Best Deal

If you're in the market for a vehicle, you'll most likely need financing to complete your purchase. Some terminology may seem foreign, so Herb Chambers Lincoln of Norwood in Norwood, MA is happy to provide you with clarification. We've helped many of our valued customers from Norwood obtain financing to purchase the vehicle they'd love to own.

An APR is the expression of interest as a yearly amount for your loan. It's often not the same as the interest rate, so it's a great comparison tool for loans. You may also see loans that offer a variable interest rate. The payment can fluctuate, so if you're looking for a consistent monthly payment, you'll want a fixed-rate loan.

It's also important to consider the length of time that you're repaying the loan. It's always advantageous to opt for a shorter term if you're able to afford the monthly payment. Stop by Herb Chambers Lincoln of Norwood in Norwood, MA, or give us a call, and we'll get you approved today.

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