Financing FAQ

We get it—automotive financing isn’t everyone’s specialty. Luckily for you, the finance center at Thornhill Toyota is staffed by a team of financing experts who will help you navigate the car-buying process.

Plus, since we believe knowledge is power, we’ve compiled a collection of our finance FAQs that you can read anytime, anywhere to learn more. By reading our FAQs, you’ll find you spend less time researching finance terms and more time travelling around Chapmanville, Harts, and Anchor, WV.

Let’s get started!

What Should I Know Before I Finance a Car?

While our team will work with you to build a personalized payment plan, it’s important to know the answers to some questions prior to the finance appointment. These questions include:

How long do you want to finance?
Are you trading in a car?
How much are you putting toward the down payment?

If you don’t know how to answer one or more of these questions, we suggest you spend a few minutes exploring our online tools and resources. For example, you can see how the above components work together to determine the estimated monthly payments when you access our payment calculator tool.

After plugging in basic information, like vehicle price and interest rate, you can then explore the various financing elements to see how, when you adjust certain things, you may lower your estimated monthly payments.

Can I Finance a Used Car?

Absolutely! And, when you visit our finance center, you’ll find how fast and easy it is to finance a used car. Our team will work with you to find the used-car loan that best aligns with your needs.

To get started, fill out our secure finance application. This gets sent to our team once completed, so they can start drafting payment plans prior to your appointment.

Should I Buy or Lease?

Whether you buy or lease is up to you. Both options offer several benefits, including:

Benefits of Buying:

Customization options
No mileage restrictions
Sell or trade at will

Benefits of Leasing:

Potentially lower monthly payments
Access to new features every few years
Warranty coverage likely throughout the lease

Our finance specialists can work with you on an individual basis to help you decide between buying and leasing.

If I Have Subprime Credit, Can I Buy?

We believe that everyone should have access to their dream Toyota, regardless of their credit history. We can explore various options—such as vehicle specials, leases, and co-signer options—to find the loan that aligns with your needs.

With our help, you may also see an increase in your credit score!

What Financing Terms Should I Know?

During your appointment, the finance specialist you’re paired with will ensure you thoroughly understand the various terms included in the automotive financing world. However, that doesn’t mean you can’t do a little studying ahead of time.

Check out some of these must-know financing terms…

Down payment: The upfront cost you pay when signing a finance plan which can help potentially lower monthly payments.
Excess-mileage charges: When you lease a car, you agree to drive a certain number of miles each year. If you exceed this mileage restriction, you may pay a fee per mile.
Principal: The total amount of money you borrow when financing a car.
Upside down: When, after trading or selling your car, you still need to make payments. This often occurs due to fast depreciation.

Have questions about other terms? Simply contact us!

Learn More About Financing FAQs

There’s a lot to learn about financing. However, knowing you have the team at Thornhill Toyota by your side, you can feel confident in our ability to craft a tailored lease or loan plan. As a result, you’ll drive off our lot, eager to show off your new car in and around Chapmanville, Harts, and Anchor, West Virginia.