At Folsom Auto Mall, financing a used car is designed to be simple, flexible, and accessible. Whether you have excellent credit, are working to rebuild it, or are looking for $0 down options, our team works with a wide range of lenders to help you get approved and into the right vehicle.
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How to Trade in Your Old Car: Step-by-Step Guide
How to Trade In Your Old Car: A Step-by-Step Buyer’s Guide from Folsom Auto Mall
Quick Answer
Trading in your current vehicle is one of the easiest ways to reduce the cost of your next car. Right now, trade-ins remain a powerful tool for lowering purchase price, reducing taxes, and simplifying the buying process — especially when handled correctly. At Folsom Auto Mall, we help buyers maximize trade-in value while avoiding common mistakes.
The benefits of buying versus leasing...
Buying or leasing your next vehicle is a tough choice. There are pros and cons to both options and what you choose depends on many factors. The Folsom Auto Mall helps break down some of the benefits and potential drawbacks of buying versus leasing.
Can lower financing save you money?
Ever wonder exactly how much you could save with lower financing on your vehicle loan? Does it really matter if your interest rate is 6.9% or 1.9%? The Folsom Auto Mall wants to help you understand.
How Down Payments Really Work.
Ever wonder how down payments work when you’re buying or leasing a new or used vehicle? The Folsom Auto Mall tries to make it simple for you.
Unless you’re buying a vehicle outright - that is, handing over a cash or check for the full value of the vehicle, chances are, you’ll be financing or leasing. Whether you’re financing or leasing a vehicle, a down payment (or cap reduction, when discussing a lease) is the initial money you pay toward the full sale or lease contract price. This lowers the remaining balance owed; that balance is paid…
Unless you’re buying a vehicle outright - that is, handing over a cash or check for the full value of the vehicle, chances are, you’ll be financing or leasing. Whether you’re financing or leasing a vehicle, a down payment (or cap reduction, when discussing a lease) is the initial money you pay toward the full sale or lease contract price. This lowers the remaining balance owed; that balance is paid…
Should I Turn In or Buy Out My Lease?
Your lease is almost up. What are you going to do? Of course, you can turn it in. Sometimes it’s almost as easy as just handing over the keys. But sometimes you may owe money for mileage overages, wear and tear or accidental damage. Did you know that you might have another option? Have you ever considered buying out your lease? Most lease contracts allow you to purchase your leased vehicle for a pre-specified buyout price. Just like buying a used car, you can often finance that amount or simply pay it in full, in cash. But should you…
What are Debt Cancellation Agreements?
Have you ever wondered what Debt Cancellation Agreements are? Wondered why you might need one? Folsom Auto Mall is pleased to explain.
In short, debt cancellation agreements (sometimes referred to as “Gap”) are contracts that cover the difference - or the gap - between what your new vehicle is actually worth and the amount you still owe on it. Basically, your new car could depreciate faster than you pay down your loan, so you might end up owing more than it’s actually worth - especially in the first few years of ownership.
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In short, debt cancellation agreements (sometimes referred to as “Gap”) are contracts that cover the difference - or the gap - between what your new vehicle is actually worth and the amount you still owe on it. Basically, your new car could depreciate faster than you pay down your loan, so you might end up owing more than it’s actually worth - especially in the first few years of ownership.
Should I Buy New or Used?
If you’re considering a vehicle upgrade, but you’re unsure about whether to consider trading up to new or a nicer pre-owned vehicle, maybe this information can help you decide. There are pros and cons to both options, but weighing your needs and priorities will help you make the right choice.
Categories:
Lease, Safety, Car Care, Performance, Finance, New Inventory, Pre-Owned Inventory, Service, Parts
BUYING A NEW CAR VERSUS LEASING
So which is right for you? Obviously it varies, depending on your circumstance. How much money do you have? Do you want a car payment at all? Do you have money to put down? How’s your credit? Are you worried about service, repairs or maintenance? How long do you plan on keeping your vehicle? How important IS that new car smell? Come by the Folsom Auto Mall to check out your options and feel free to speak with a salesperson or finance team member to explore the pros and cons of getting a new or used vehicle. Or simple…
What to do if you’re going over your mileage on your lease
It happens to many drivers. You lease a vehicle with typical mileage conditions and as you’re approaching the end of your term, you realize you’re likely going to have overages. Most leases allow for for anywhere between 10,000 and 15,000 miles of driving per year. At 12,000 miles a year, that means a person should drive about 33 miles per day or 230 miles per week. But what if you realize your commute is longer than that? Or a few unexpected road trips have added more mileage than you expected? The Folsom Auto Mall has…
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