Here at Mercedes-Benz of Orange Park, we know that the car financing process can seem intimidating. If you’re a first time buyer who’s unfamiliar with many of the terms used, it can certainly be daunting. That’s why we do everything that we can to make the car buying process easier. Our experts can answer any questions that you have, and we offer helpful online tools that can let you see how a new or pre-owned Mercedes-Benz vehicle will fit into your monthly budget.

Before you finance a car there are some important terms to know. Your down payment is the very first payment that you make on your vehicle. This is much larger than your monthly payments, and making a bigger down payment means that you’ll need a smaller car loan. That can cut down on the interest that you pay over time. Your interest rate, or APR, is primarily determined by your credit score and history. The better you’ve been at managing credit and paying back debts, the lower the APR that you can receive.

It’s also important to know about the loan term. This is the amount of time you have to pay back the loan. A shorter loan term can mean larger monthly payments, but it also means less interest. Loan terms can vary, lasting from 12 to 84 months.

When you’re perusing our selection of Mercedes-Benz cars, you may wonder how your dream car fits into your budget. The tools on our website can make that calculation much easier. Our payment calculator lets you plug in information like your down payment, the value of your trade-in vehicle, and the APR to see what your monthly payments will look like.

If you have any more questions, visit our Mercedes-Benz dealership near St. Augustine, FL. We’re ready to assist you with all of your Mercedes-Benz financing needs. We hope to see you soon for a test drive!