Some Good to Know Information for Car Loans

If you require financing when purchasing a vehicle, Jaguar Cerritos in Cerritos, CA can help as we have for many Cerritos customers. It's a great idea to familiarize yourself with basic terminology about car loans, so you'll make an educated decision when you're ready to sign.

A variable rate loan offers a payment that can go up or down based on market conditions. A fixed-rate loan remains level throughout the entire term. An APR expresses as a percentage the amount you'll pay per year in interest. Your interest rate may differ from the APR, so it's good to compare loans using the APR.

The principal balance is the amount that's financed and doesn't include any interest amounts. If you prepay on the loan, the excess is applied towards the principal balance. Get in touch with Jaguar Cerritos to get your application started, and we'll get you approved right away.

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