Automotive Finance FAQ


It’s good to ask questions. Being curious is how we learn more about life and discover the world around us. And when we’re informed, we feel prepared for whatever comes our way. If you’re navigating the auto financing process, it’s natural to have questions. Luckily, we’re here to help you!

Our team at Sheridan Nissan wants to help all our friends around New Castle, Wilmington, and Newark, Delaware, as they begin their research process. We’ve compiled the answers to these auto financing FAQs together in one place so you can find the information you need! Ready to get started?


What Is Automotive Financing?

Auto financing allows you to pay off a car over time rather than all at once. With a down payment and a loan, you can make payments on your vehicle on a schedule that’s manageable for you.

Automotive financing gives drivers an added element of flexibility. If you’re interested in financing, you can visit our finance center to speak to an expert about our available options.

What Is Automotive Leasing?

Simply put, automotive leasing is like renting a car for a set time period. When you decide to lease, you’ll speak to a team member about the specific terms. The lease terms include how long you can drive the vehicle and how many miles you can put on it.

You’ll make monthly payments over the course of around two to three years. One major perk of leasing is that you’ll get to experience driving a newer model at a fair rate.

Should I Buy or Lease My Next Car?

To decide whether to buy or lease, you should think about your lifestyle and needs. One of the main reasons some drivers like leasing is because it offers the freedom to upgrade to a new model every few years. That way, you can always have the latest technology and innovations in your ride.

What about buying? Purchasing a car provides an added element of stability. You can drive a vehicle for many years, and there will be no limits on your mileage. You can customize your car and love it like a member of the family—and you won’t have to worry if your cute tot spills apple juice on the back seat!

If you crave stability, buying is a great choice. However, if you prefer to change it up, consider leasing.



Automotive Finance FAQ DealershipAutomotive Finance FAQ Financing

How Do I Create a Budget for My Next Car?

You can easily find a dreamy vehicle that won’t break the bank by creating a budget. It’s easier than you might think since you can craft a personalized budget in just a few steps!

Consider the so-called “20% rule.” What does this mean? Think about how much money you typically net (take home) from your wages. Aim to pay, at most, 20% of your monthly take-home wages on your car payment. That way, you’ll be able to pay on time and still have extra cash for your daily needs and fun activities.

So, you’ve determined how much you can spend on your monthly payment. But how do you know which models will work with your plan? Use our easy online Payment Calculator to get an idea of what’s out there for you. With just a few clicks, you can figure out which cars from our inventory fit your proposed monthly budget.

Creating a budget can be fast and easy. You can always consult our financial experts if you need help or advice! We’ll help you take control of your financial future so you can leave our dealership with keys in hand and a smile on your face.

How Should I Prepare for My Visit to the Dealership?

Most dealers provide helpful resources on their websites. Making use of these will provide you with a valuable head start. These include a Payment Calculator that will help gauge which of your top choices fits best into your budget.

The Value Your Trade tool is there to determine what you might receive for trading in your current vehicle. Don’t forget to fill out the secure online financing application to begin the process of getting approved for a loan.

When Will I Have to Make My First Car Payment?

Generally speaking, your first payment will be due a month after you purchase the car. Don’t hesitate to ask if this is not clear.

How Much Time Should I Plan on Spending at the Dealership?

How long it takes to buy a car varies from person to person. In general, expect your visit to take around two hours.


Direct Your Questions to Our Helpful Team!

We hope our answers to these auto financing FAQs have helped you. If you still have questions about the auto financing process or want to talk to someone about your specific needs, visit Sheridan Nissan! Our team works hard to help all our friends in New Castle, Wilmington, and Newark, DE, navigate this process with ease.

We’re here to answer all your questions, so don’t wait! Contact us today!

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