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How Does Financing a Car Work?

Signing Finance Documents for Car

If you’re shopping around for a new Kia model— perhaps even your first vehicle— you may be eager to learn what is financing a car and discover your purchase options. In the following guide, our helpful and resourceful finance team is here to take you through the answer to “what does it mean to finance a car?” Read on below and be sure to contact us with any additional inquiries about how does financing a car work!


What is Financing a Car?

First and foremost, what does it mean to finance a car? How does financing a car work? If you’re ready to purchase a new or used vehicle as a Harvey driver, you may need some help from a bank, credit union, or our dealership (lender) to fund your new investment. This means the lender will supplement your purchase by providing you a loan.

Over time, you will pay the lender back in monthly payments which factor in the overall loan amount, as well as the predetermined added interest rates. One major benefit of financing is the option to eventually refinance your loan terms if your financial situation improves throughout the course of the loan!


How Car Finance Works

To get a loan, you’ll want to shop around Harvey area banks, credit unions, and talk to our finance team about your purchase. You will then get quoted an interest rate on your car loan. Shopping around to multiple lenders ensures you are getting fair, competitive interest rates. Your interest rate is determined by considering the following factors:

  • Your credit score
  • Length of loan term
  • Your debt-to-income ratio
  • Age of the desired vehicle
  • Down payment amount
Car-buying paperwork

Contact our Ray Brandt Kia Finance Team Today

Now that you know how car finance works, you are ready to shop like a pro! If you see a new Kia K5 you love or you’re interested in bringing award-winning Kia Telluride home to your Marrero driveway, you may be interested in our current financing offers and incentives.

No matter what your current New Orleans driving needs, financial situation, budget, and timeline, we are here to help work with your circumstances and teach you how car finance works. If financing doesn’t sound like the best route for you, don’t forget to inquire about the benefits of leasing a new Kia from Ray Brandt Kia. If you’re looking for ways to save on your upgrade, learn how to sell your car at a dealership with our team!


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504-356-7072

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1884 Westbank Expy • Harvey, LA 70058

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Today's Hours:

Open Today! Sales: 9am-7pm

Open Today! Service: 7:30am-5:30pm

Ray Brandt Kia 29.9007548, -90.0696402.