Auto Loan Financing

Auto loan financing doesn't have to be complicated! At Lafayette Cadillac, we can take care of everything right here at our dealership, from helping our Indianapolis neighbors apply for a loan to comparing Cadillac finance offers and car leasing specials from a wide range of lenders.

Our friendly finance managers have built relationships with lenders from all over Lafayette, West Lafayette, and Pettit. They go above and beyond to match every customer with the right auto loan finance program or car leasing program for them at the most competitive rates. Whether you're looking for new or used car finance, we're here for you every step of the way!

What Do Banks Look For?

Don't assume that banks are only looking at your credit score! Many people worry that a quality car is beyond their reach due to a credit score that's not as high as it could be. While credit score is a crucial part of how banks will assess your Cadillac finance application, it's not everything.

Working with a dealership instead of going directly to a bank may make it easier for you to leverage other factors, and potentially receive better new auto loan financing or used car finance offers from lenders. Plus, keep in mind that lenders are less strict when you apply for car leasing since the principal loan amount is smaller.

Most lenders will consider the following:

• Vehicle value
• Employment status
• Loan terms
• Credit score
• Debt to income ratio
• Collateral
• Credit history
• Down payment amount 

Car Leasing vs. Auto Loan Financing 

As you explore your options among the many Cadillac finance offers, used car finance packages, and car leasing deals, you'll need to know what the fundamental differences between leasing and financing are. Let's take a look at how both of these paths differ from one another. 

When you lease, you get temporary access to a vehicle. Your lease term ranges from 2 to 3 years, and you'll only need to pay for the depreciation that occurs over your lease term. That means lower monthly payments and lower down payment requirements. It also means that you don't get to build equity.

When you finance, each of your payments chips away at the principal of a loan that goes to cover the full value of the vehicle, and you retain the right to sell your vehicle at any time. Anything that exceeds the principal of your loan is yours to keep! Of course, financing requires a higher down payment and greater monthly payments. Neither option is better. Rather, they serve different needs! 

Why Choose Us for Auto Loan Financing in Lafayette?

We offer a wide range of car leasing, used car finance, and Cadillac finance options, and getting started from home is easy! Use our quick pre-approval form to qualify for one of our Cadillac finance programs in just a few clicks. If you're interested in selling your current car before you upgrade to a new model, consider selling it to us. Additionally, you can quickly estimate your buying power and monthly payments with our payment calculator tool. Visit us in Lafayette or simply give us a call to get started today.