Finance Terms in Spencerport, NY

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A lot goes into the financing process to secure an automotive loan. Really, it's no wonder that so many people are overwhelmed or anxious to get this process started — especially first-time buyers. It can be a daunting task to collect all the required paperwork and documents, like proof of insurance, income, residence or identity, not to mention all the finance term know-how. But we like to simplify things here at Roc E-Z Auto.

We have an expert team of finance professionals who are trained in relaying complex information into simpler terms. Many of our customers who have driven away in a fantastic vehicle have a variety of credit scores and histories, so don't worry if your financial situation isn't perfect. If you're unfamiliar with or new to finance terms surrounding automotive loans, the below information is for you. We've put together a quick summary of some common terms you'll hear while working with us to secure your loan.

Usual Vehicle Finance Terms
Every loan we secure is different and tailored to your specific needs. A "normal" loan term — otherwise known as the length of your loan — is around 36-72 months, which means most have three to six years to pay off their loan, plus interest. Your credit score and your down payment can largely affect your interest rate and loan term. Typically, longer terms mean smaller payments but a higher interest rate. Many lenders suggest choosing a shorter loan term (such as 36 or 48 months) for a few reasons, including lessening your chance of being "upside down" on your loan. What does that mean? Simply put, you owe more on your loan than your vehicle is worth.

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Financing with Roc E-Z Auto
Ready to drive home in your new-to-you vehicle? Apply for financing with our EZ Finance Application. In just a few simple, secure steps, you can be that much closer to obtaining your next (or first!) car loan. Once you've completed the application, a member of our team will contact you

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We make auto financing easy. If you have any questions or want to know more, give us a call or stop by our dealership at 5018 W Ridge Rd, Spencerport, NY 14559. Roc E-Z Auto proudly serves customers near Rochester, Greece, Hilton, Churchville and Clarkson.