Understanding Basic Financing Terminology

Here at Wholesale Investments Inc., we want all of our customers to be as well-informed as possible. Some of the phrases that you hear throughout the car buying process might be confusing, and that is why you should spend some time familiarizing yourself with basic financing terminology.

One of the most important terms that you are going to come across is APR, or annual percentage rate. That number indicates the total interest that you are going to pay over the course of a year. Cosigner and creditor are two other terms that you might hear or see when signing your paperwork. You will be the primary signer for the loan, but you might want to have a cosigner if your credit isn’t that great. The creditor is the institution or organization that will be lending you money.

If you are ready to get behind the wheel of a new vehicle, then please stop by our showroom in Van Nuys today.



Categories: Finance