Financing Used Cars Near Milwaukee

Ewald CJDR in Franklin has developed strong relationships with accredited lenders to get you car loans near Milwaukee for your next car, truck, or SUV. Our Milwaukee used car dealership staff is committed to finding you the perfect car loan for your lifestyle and budget. We strive to provide you with a relaxed and stress-free environment while exceeding your highest customer service expectations. 

Read more about how financing used cars near Milwaukee works at Ewald CJDR in Franklin below.

How Does A Car Loan Work?

Buying a car, truck, or SUV usually means taking out a car loan to pay for it. You may have researched the car you want to buy, but do you know how car loans near Milwaukee work? You get the money in a lump sum from a lender when you take out a car loan. Then, you pay the money back, with interest, over agreed-upon terms. Here are the three factors that affect your monthly payment and the total amount you will pay:

• Loan amount. You can trade in your car or make a down payment to reduce the amount you have to borrow to pay for used cars near Milwaukee. 

• Annual percentage rate. Typically known as APR, this is the interest you will pay on your car loan. Car loan rates can vary depending on your lender and credit score. 

• Loan term. The amount of time you have to pay back the loan–typically, it’s between 36 and 72 months.

To assess how much you can afford each month, use our Milwaukee used car dealership’s car loan payment calculator. This tool will help you determine what your monthly payment could be on your next car loan.

Is It Smart To Finance A Used Car?

Financing a car from our used car lots near you is entirely possible and comes with some benefits. They are listed below:

• Lower down payment. Since used cars have less value, your down payment can be lower. Most used cars near Milwaukee only need a down payment that’s 10% to 20% of the car value.

• Reasonable auto financing rates. It’s easier to get a reasonable APR on used cars for sale, especially if you have bad credit. 

• Build credit score. Keeping up with your monthly payments on your car loan is an excellent way to build your credit score.

• Maintain your savings. If paying for a used car in full would drain your bank account, auto financing can help you have enough money for unforeseen circumstances or emergencies.

How Does Interest Work On A Car Loan?

When you get a car loan, the interest is the price you pay to borrow money from your lender. So, you must repay the amount you borrow plus the interest in the monthly payments throughout your loan term.

How To Finance A Car

Paying in total for a used car at Ewald CJDR in Franklin means zero interest or financing fees. However, we know that not everyone’s financial situation allows for that purchase. So, if you need to secure auto financing for your next used car, follow the steps below. It will help you get the best possible car loans near Milwaukee and save you money over time.

1. Check your credit report. Our lenders will assess your credit score and income to see how much you qualify to borrow and at what interest rate. Ensure that there aren’t any errors or incorrect info on your report before applying.

2. Apply for car loans near Milwaukee. Once you have checked your credit, start looking at different car loans. Our used car dealership near you partners with several lenders to offer you various options.

3. Get pre-approved. Use our secure online application to get pre-approved. Or you can stop by Ewald CJDR in Franklin to fill it out in person.

4. Use your loan offer to create a budget. Use Ewald’s auto loan calculator to set your budget for your next car, truck, or SUV. You could put in your down payment and lending terms to see what monthly payment fits your budget.

5. Find used cars near Milwaukee. Now that you’ve secured auto financing, it’s time to start browsing Ewald’s inventory of new and used cars for sale. Find a suitable one for your lifestyle, needs, and budget at our used car lots near you.

6. Accept your loan. Complete your loan application and finalize your funding for your next car.

7. Make your payments on time. After your financing is locked in, make sure to pay on time. This would help you build your credit score over time.

Finance Your Next Car At Ewald CJDR In Franklin

Whether you are financing a new or used car near Milwaukee, Ewald CJDR in Franklin is here to provide you with a seamless automotive experience. Our finance specialists will walk you through the auto financing process and provide you with all the information you need. We can get you behind the wheel of your dream car at a price you love, thanks to our offers and incentives, and trade-in options. Please stop by our used car dealership near you to get started today!