Discover Basic Auto Finance Terms

Financing a vehicle can be complicated. And while there is somewhat of a learning curve to understand some of the financing jargon, it is well worth the investment of your time to learn about it. That is why we here at Honda of Serramonte want to give you a crash course about some of the more common vehicle financing terms.

First, car buyers should know who their creditor is. A creditor is the person who is lending you the money to purchase the car. This can be either a dealer or a bank in some cases. Next, we look at a cosigner. A cosigner is someone who agrees to make payments on your vehicle if you are unable to. This is usually done for younger car buyers who may not have a long credit history or has just started a new job.

Be sure to finance your next vehicle at Honda of Serramonte!



Categories: Finance