Oak Lawn IL is proud to announce the opening of it's new used car superstore in Oak Lawn Happy Hyundai at 8900 S. Cicero ave. With used cars under 9995.00 and with a great selection why would you choose anywhere else to shop. We are not as big as Carmax but you sure will feel like you are shopping at a major chain. With Quality suburban trade in and fresh purchase from our manufacturer you will see what a great selection and a great choice you will make. We are also happy to announce that our new credit program will be able to help you with your finance needs for your next pre owned car. Guaranteed Credit Approval is a new source to help you get a car loan. With a first time buyers,good credit,bad credit or a fresh bk Happy Hyundai used car Superstore and get you driving today. Our Sales Manager Victor says"in all of years selling pre owned cars in Chicago i have never seen it so easy to buy a car". With a great selection of New and Used cars we make Happy Hyundai a great place to buy your next car. Visit us online 24 hours a day at http://www.myhappyhyundai.com/
or you can call us at 708-422-9300 and see why Chicago's used car superstore is the peoples choice.
Showing posts with label car loans. Show all posts
Showing posts with label car loans. Show all posts
Tuesday, September 28, 2010
Thursday, September 9, 2010
QUESTIONS ABOUT YOUR NEW CAR PURCHASE
How is my APR [Annual Percentage Rate] determined?
Your APR is set between you and the dealer. Your creditworthiness and the other terms of your contract (such as the number of payments, your down payment, the amount you are financing) may affect your APR. The fee that a potential purchaser might pay to the dealer to buy your contract can also affect your APR.
» The dealer asked me to sign a credit application, which says Hyundai Motor Finance can look at my credit information. Why?
The law restricts who may access your credit information. The dealer has obtained your consent so that Hyundai Motor Finance can review your credit information. Based upon Hyundai Motor Finance's response to your credit application, the dealer may sell your contract to Hyundai Motor Finance.
» My retail installment contract has a logo for Hyundai Motor Finance at the top. Does this mean that Hyundai Motor Finance is the creditor?
No. The dealer may or may not assign your contract to Hyundai Motor Finance. Often, creditors supply forms to dealers, some of which contain their logos, as a way to remind dealers to consider them as possible purchasers of the contracts.
» Doesn't the finance company set my APR?
No. The APR, like other contract terms, is determined between you and the dealer.
» Does the finance company or bank pay the dealer for the contract?
Yes. The dealer usually receives a fee for the contract. This may be based upon a percentage of the APR or it may be a flat fee.
» The dealer is making money on my purchase. Why does the dealership make money on my financing?
The fee compensates the dealer for work that is not involved in a cash sale or where a customer has arranged for financing directly from a lender.
» My dealer sent my credit application to a financing source before we even wrote a contract. Why?
The dealer may begin to look for potential purchasers for your contract even before the contract is complete. That permits the dealer to make sure the terms of the contract will make it saleable.
» My brother and I got different rates financing the same model car from the same dealership in the past couple months. Why?
There can be many reasons for the difference. Probably there are differences in your creditworthiness. Interest rates may have changed, or special financing programs were available. Other terms of your financing, such as the number of payment, may have differed, too.
» How do I know the APR, Amount Financed, etc.?
These terms are set apart on your contract in the "Truth in Lending" box. The dealer will give this information to you to review before you sign your contract. You should take the time to be sure you understand these terms.
» Does the Truth in Lending box show the price paid to assign the contract?
No. This box shows the cost of credit to you. You are entitled to disclosures of the credit terms you agreed upon. The Truth in Lending box does not show the business arrangements between the dealer and any potential purchaser.
Some contracts contain a reminder that the APR may be negotiable with the dealer and that the dealer may be retaining a portion of the finance charge. Hyundai Motor Finance voluntarily includes this reminder on contract forms it provides to Hyundai dealerships.
» Can I finance directly with Hyundai Motor Finance?
No. Hyundai Motor Finance provides financing only through vehicle dealerships like your Hyundai dealer. Hyundai Motor Finance is an “indirect lender” – it does not make financing available directly to consumers.
Your APR is set between you and the dealer. Your creditworthiness and the other terms of your contract (such as the number of payments, your down payment, the amount you are financing) may affect your APR. The fee that a potential purchaser might pay to the dealer to buy your contract can also affect your APR.
» The dealer asked me to sign a credit application, which says Hyundai Motor Finance can look at my credit information. Why?
The law restricts who may access your credit information. The dealer has obtained your consent so that Hyundai Motor Finance can review your credit information. Based upon Hyundai Motor Finance's response to your credit application, the dealer may sell your contract to Hyundai Motor Finance.
» My retail installment contract has a logo for Hyundai Motor Finance at the top. Does this mean that Hyundai Motor Finance is the creditor?
No. The dealer may or may not assign your contract to Hyundai Motor Finance. Often, creditors supply forms to dealers, some of which contain their logos, as a way to remind dealers to consider them as possible purchasers of the contracts.
» Doesn't the finance company set my APR?
No. The APR, like other contract terms, is determined between you and the dealer.
» Does the finance company or bank pay the dealer for the contract?
Yes. The dealer usually receives a fee for the contract. This may be based upon a percentage of the APR or it may be a flat fee.
» The dealer is making money on my purchase. Why does the dealership make money on my financing?
The fee compensates the dealer for work that is not involved in a cash sale or where a customer has arranged for financing directly from a lender.
» My dealer sent my credit application to a financing source before we even wrote a contract. Why?
The dealer may begin to look for potential purchasers for your contract even before the contract is complete. That permits the dealer to make sure the terms of the contract will make it saleable.
» My brother and I got different rates financing the same model car from the same dealership in the past couple months. Why?
There can be many reasons for the difference. Probably there are differences in your creditworthiness. Interest rates may have changed, or special financing programs were available. Other terms of your financing, such as the number of payment, may have differed, too.
» How do I know the APR, Amount Financed, etc.?
These terms are set apart on your contract in the "Truth in Lending" box. The dealer will give this information to you to review before you sign your contract. You should take the time to be sure you understand these terms.
» Does the Truth in Lending box show the price paid to assign the contract?
No. This box shows the cost of credit to you. You are entitled to disclosures of the credit terms you agreed upon. The Truth in Lending box does not show the business arrangements between the dealer and any potential purchaser.
Some contracts contain a reminder that the APR may be negotiable with the dealer and that the dealer may be retaining a portion of the finance charge. Hyundai Motor Finance voluntarily includes this reminder on contract forms it provides to Hyundai dealerships.
» Can I finance directly with Hyundai Motor Finance?
No. Hyundai Motor Finance provides financing only through vehicle dealerships like your Hyundai dealer. Hyundai Motor Finance is an “indirect lender” – it does not make financing available directly to consumers.
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