A Beginner's Guide to Car Financing

January 14, 2024 · 3 min read

Whether you're buying a used car or a new one, car financing can be a challenge for any driver. When you finance your new car through your dealership, you can streamline the process and get a much better financing deal. Learn everything you need to know about the car dealership financing process and how to make a good deal.

A Beginner's Guide to Car Financing at a Car Dealership

At the dealership, most of the heavy lifting for building your financing plan is done by the dealership's finance department. The finance experts will compare interest rates to find you the most competitive offer and can tailor your financing plan to meet your monthly budget. The three basic steps of this process include:

Assess Your Credit Score

Your credit score has a massive influence over the interest rate you will get for your auto loan. Borrowers who have good credit will typically have a much lower interest rate on a loan, while borrowers who have a low credit score will have a higher interest rate. Having no credit history can also cause your interest rate to be high. Fortunately, your dealership will lend to you even if you have a bad history.

If you want to get a better interest rate on your loan, you can work to clean up your credit score before you submit your application. You can improve your credit rating by paying down debts or making on-time payments. You might need to give this process a few months before your credit score reflects these changes.

Get Pre-Approved

Next, you can submit an application for an auto loan at your dealership to get pre-approved. The pre-approval step is essential since this will tell you how much you can afford for your auto purchase. The pre-approval step will also help you assess different interest rate offers. When you apply for pre-approval at your dealership, you will generally get results back within a few hours or days.

Finalize a Finance Plan

Finally, you will be able to finalize the terms of your auto loan. You will select a loan term length from 24 to 72 months or more and make a down payment that can reduce the total cost of your loan.

Making a good deal on your car purchase might depend on how well you can negotiate the price of your new vehicle. For many drivers, one way to negotiate is to use the trade-in value on an older vehicle. If you don't have an old car to trade in, then you can ask your dealership about vehicles being sold at manufacturer discounts or look exclusively at used models so you can save money.

Financing your new car ultimately means finding an auto loan with an affordable interest and monthly payment. You can try strategies such as cleaning up your credit score to make your financing plan more affordable. Contact Randy Wise Auto Group to discuss your finance options today.

Posted in:

Car dealership team standing in a showroom with vehicles in the background.

Apr 14, 2026 in Flint BMW Dealer

Explore Toyota's National Sales Event in Flint, MI

Exclusive Offers Await at Toyota's National Sales Event Toyota's National Sales Event is here, bringing exceptional deals and incentives to drivers in Flint, MI. Whether you're in the market for a reliable sedan, a rugged truck, or an eco-friendly hybrid, this event is the perfect opportunity to find your dream vehicle. With special offers on select models, exclusive rebates for college graduates and military personnel, and a variety of shopping tools to simplify your experience, now is the time to explore what Toyota has to offer. more Special Offers on New Toyota Vehicles One of the highlights of Toyota's National Sales Event is the range of special offers available on new vehicles. From the versatile Toyota RAV4 to the powerful Tacoma and the fuel-efficient Prius, there's something for every lifestyle and needs. These limited-time deals make it easier than ever to drive home in a vehicle that combines performance, safety, and innovation. Drivers in Flint, Michigan, can take advantage of these offers by visiting Randy Wise Auto Group. With a wide selection of Toyota models to choose from, you're sure to find a vehicle that fits your budget and preferences. Rebates for College Graduates and Military Personnel Toyota recognizes the hard work and dedication of college graduates and military personnel by offering exclusive rebates during the National Sales Event. If you've recently earned your degree or are serving in the military, you may qualify for these special incentives. These rebates are designed to make owning a new Toyota more accessible and affordable. Whether you're starting a new chapter after graduation or need a dependable vehicle for your service commitments, Toyota has you covered. Shopping Tools to Simplify Your Experience Toyota's National Sales Event also includes access to a variety of shopping tools that make finding and purchasing your next vehicle a breeze. From online payment calculators to inventory searches and build-and-price options, these tools are designed to streamline the car-buying process. Randy Wise Auto Group in Flint, MI, offers personalized assistance to help you navigate these tools and make informed decisions. Their knowledgeable team is ready to answer your questions and guide you through every step of the process. Visit Randy Wise Auto Group Today Don't miss out on Toyota's National Sales Event, running through September 2. Visit Randy Wise Auto Group in Flint, MI, to explore the latest Toyota models and take advantage of these incredible offers. With exclusive rebates, special deals, and a commitment to customer satisfaction, there's no better time to find your perfect Toyota. Conclusion Toyota's National Sales Event is an unmissable opportunity for drivers in Flint, Michigan, to save on new cars, trucks, SUVs, and hybrids. With special offers, exclusive rebates for college graduates and military personnel, and user-friendly shopping tools, this event makes it easier than ever to drive home in a Toyota. Visit Randy Wise Auto Group today to explore these deals before they end on September 2!

Aug 15, 2025 in Flint BMW Dealer

Performance and Sophistication: The 2025 BMW 3 Series

If you want a luxury vehicle that's fast, elegant, sporty, and fun to drive, look no further than the new 2025 BMW 3 Series. This turbocharged sports car has the power, performance features, and style to elevate your driving experience and make life on the road more enjoyable. more The Versatile Luxury Options Drivers interested in the new BMW 3 Series will have their choice of four trims: the 330i, the 330i xDrive, the M340i, and the M340i xDrive. The M340i xDrive is the highest trim with the most features and amenities. It has a 3.0L six-cylinder gas/electric mild hybrid 8A engine with 386 hp and 369 pound-feet of torque. This trim has excellent fuel economy with 29 combined miles per gallon, 26 miles per gallon in the city, and 33 miles per gallon on the highway. It has comfortable sport seats, a sport heated leather steering wheel, and comes in versatile interior and exterior color options. Drivers can choose from eight leather and leatherette interior color options and 12 exterior metallic sheen colors. The Package Options The Convenience Package and the M Sport Package If you want a luxurious and customizable driving experience, you'll find it in the new BMW 3 Series. Drivers who opt for the Convenience Package will enjoy extra features like keyless entry, parking sensors, a heated steering wheel, and extra safety features like a Blindspot warning system. The M Sport Package enhances the vehicle's interior and exterior appearance with an M Sport suspension, 19-inch wheels, an M Sport steering wheel, dark exterior trim, and a rear spoiler. The Premium, Driving Assistance, Dynamic Handling, and Driving Assistance Professional Packages With the Premium Package, drivers will enjoy all the benefits of the Convenience Package in addition to a head-up display. The Driving Assistance Package gives the BMW 3 Series adaptive cruise control and the Dynamic Handling Package adds the Adaptive M suspension, M Sport brakes with the option of blue or red calipers, 19-inch wheels on all-season run-flat tires or performance tires. There's also the Driving Assistance Professional Package that adds extra safety features and driver technology. These features include evasive steering assistance, an extended traffic jam assistant, adaptive cruise control, active lane-keeping assistance with side collision avoidance, and a cross-traffic warning system. Ready to learn more about all the luxurious features and amenities in the new BMW 3 Series? Our sales team can answer all your questions and take you on a test drive. Contact Randy Wise Auto Group in Flint, MI, to learn more about our new vehicle offers and incentives.

Jun 14, 2024 in Flint BMW Dealer

Luxury Meets Performance: The 2024 BMW 4 Series

Available as a coupe and a convertible, the 2024 BMW 4 Series comes with a choice of sporty and thrifty engines, a well-appointed cabin, and an exterior design that turns heads wherever it goes. Here are a few key features that will make you hit the road, head out to your local BMW dealership, and check out the new 4 Series in person. Performance and Efficiency The 2024 4 Series offers drivers a choice between two sporty and efficient powertrain configurations. Under the hood of 430i models, you will find a 2.0-liter four-cylinder turbocharged engine that achieves 255 horsepower and 295 pounds of torque. The M440i trim level, on the other hand, is powered by a turbocharged 3.0-liter six-cylinder unit that, paired with a 48-volt hybrid system, delivers 382 horsepower and 369 pounds of torque. Featuring an eight-speed automatic transmission and optional all-wheel drive, the BMW 4 Series also stands out from the crowd when it comes to fuel efficiency. The FWD 420i coupe boasts EPA ratings of 26 miles per gallon in the city and 34 mpg on the highway, while its AWD counterpart delivers 24 mpg and 33 mpg, respectively. The FWD version of the M440i, on the other hand, offers 22 miles per gallon in the city and 31 mpg on the highway. more Space, Comfort, and Safety Both the coupe and the convertible variants of the 2024 4 Series offer comfortable and supportive seating for up to four occupants, with 41.8 inches of legroom in the front seats and 34.5 inches in the rear row. All models boast premium interior materials, a clever dashboard layout, and stylish accents. Coupe models offer a 12.0-cubic feet trunk, while the convertible's trunk space stands at 10.6 cubic feet. Offering a host of driver-assist features, the 2024 4 Series helps you prevent common accidents in the city and on the highway. All trim levels are equipped with automatic emergency braking with pedestrian detection, lane departure warning, blind spot monitoring, driveline traction control, and rear parking sensors. Adaptive cruise control is available as an extra feature. Connectivity and Infotainment All models of the 2024 4 Series feature a 12.3-inch digital gauge display and a 14.9-inch infotainment unit, which runs the latest version of the manufacturer's iDrive 8 software. Bluetooth audio streaming, as well as Android Auto and Apple CarPlay compatibility are standard, while a wireless smartphone charging pad and onboard Wi-Fi are optional extra features. If you can't wait to check out the 2024 4 Series in person and learn all about the financing plans available for you to take it home, you've come to the right place! Visit us at Randy Wise Auto Group in Flint, MI, and we'll set you up for a test drive.