ONLY at Keith Pierson Toyota as low as 0% 36 months on Camry, Corolla and RAV4.
What You Need to Know About Financing
Principal? Money Down? MSRP? Brush up on your financing terms with our quick guide to financing at Keith Pierson Toyota.
Here at Keith Pierson Toyota, we're dedicated to putting you behind the wheel of the perfect new or pre-owned Toyota car for your needs. The process of financing your Toyota vehicle can be intimidating, but our expert team is here to help you get the deals, leases, and loan options you deserve. It's important to understand a few key terms going in.
Money Down: This is the original payment you make up front when purchasing or leasing your new Toyota Tundra or Toyota Corolla .
Principal: Principal is the amount of money you owe before interest is taken into account. If your loan is for $5,000 and you put down $500, your principal will be $4,500.
Term: The length of the time the loan lasts for.
Depreciation: How much value your car loses. A new car will be worth more than the version that is a few years old, thus that older car has depreciated.
- Money down
- Principal
- Depreciation
- MSRP
- Upside down
Financing Terms to Know:
- Online appliciations
- Convenient cost calculators
- Vehicle protection plans
- Specials for military and students
Visit the Keith Pierson Toyota Financing Center For:
Credit: Your buying and renting history will indicate to creditors what kind of down payment, interest rate, and loan term they can provide.
MSRP: The manufacturer?s suggested retail price. This indicates what the manufacturer believes your new Toyota Highlander or sedan should sell for. This is also known as the sticker price.
Upside Down: When the value of what is owed on the car is higher than the value of the car, you will be considered upside down.
Equity: When you subtract the value of the car from what you owe, you get your equity. Negative equity is also called upside down.
Interest Rate: The percentage that is added to your loan each year until it?s completely paid off.
These are just a few of the terms and phrases you?ll run into when financing your next new Toyota Camry or other vehicle. Let our team here at Keith Pierson Toyota help walk you through the rest. We offer an easy financing application, convenient payment calculators, resources for determining whether leasing or buying is right for you, and vehicle protection plans. Don?t forget about our great specials and deals for military personnel and college graduates, too.
Let Keith Pierson Toyota be the Toyota dealership near you that you rely on. Don?t wait?visit us at 6501 Youngman Circle in Jacksonville, FL to get started today!