Audi

Audi San Juan

1001 East Expressway 83
Directions San Juan, TX 78589

  • Sales: (956) 567-0134
  • Service: (956) 948-4022
  • Parts: (956) 948-4018
Info

Audi San Juan Finance Center

Understanding Credit

An Important Number

Your credit score is a three-digit number credit bureaus develop by evaluating the information on your credit file. Along with your credit history, it has an impact on whether or not you are approved for a mortgage, car loan or credit card and what interest rate you'll pay.

Lending Industry Standard

A borrower's credit score has been proven to be the best predictor of the borrower's repayment performance. The three major credit bureaus generally use a formula developed by the Fair Isaac Corporation (FICO) to analyze the credit information they have on file for you. Your FICO score is what most lenders use to determine the interest rate you'll be offered. Borrowers with high credit scores are usually offered lower interest rates, while those with lower scores may still get credit but will have a higher interest rate.

Figuring Your Score

The three major credit reporting agencies may each assign you a different score, based on the specific information each has on file. But they follow a similar method to come up with that number, which range from 300 to 850. The median score in the United States is 723. Knowing your FICO score and understanding how it is calculated can help you improve your credit profile and thus affect what you pay for financing. 

Bankruptcy 

If you have experienced a bankruptcy Audi San Juan wants to help. We work with many lenders, banks, and will work hard to help you find the best  interest rate and help you start to rebuilt your credit. Because of our low prices many times we are able to get your loan approved where others have failed in the past. Getting a car loan after Bankruptcy is possible, our team will work hard to find the best option(s) for you.

Leasing

As the cost of vehicles continues to escalate, we here at Audi San Juan have found a way to give you the monthly payment you desire and still drive the new Audi vehicle of your choice.  Lease it!

Advantages to Leasing     

·      Lower Monthly Payments and Low Down Payment. Payments on a lease are less expensive than financing because you are only paying for the depreciation, which is the difference between the price of the vehicle and the residual value.

·      Upside Down?  Never have to worry about being upside down where the value of the vehicle is less than the amount owed.

·      Most people will always have a car payment, just like house payment. You will always have one so why not be driving a new vehicle of your choice every 3 years.

·      Asset sense. You should buy items that appreciate and lease items that depreciate. For example, most people would not be too excited about buying stock for $30,000 if they knew that it would only be worth $15,000 in 4 years.

·      Low Risk. A bank or lease company is assuming the total risk of what the vehicle will be worth in the future.

·      Flexibility. You do not give up the option of owning the vehicle, you just postpone it. This gives you time to make sure this is the vehicle for you. This makes great sense with advances in technology that have the potential to make your vehicle outdated.

·      High Mileage Drivers can benefit by applying for extra miles up front at a reduced price. The auto industry deducts 23 - 30 cents per mile over your mileage limit when trading in a vehicle.

·      Win! Win! In many instances, the residual value is comfortably high resulting in lower monthly payments. At the end of the lease, the lease company absorbs the loss, not you.

·      Warranty. The short-term lease leaves you covered under your factory warranty, allowing you to be worry-free about unexpected repair bills.

·      Get a nicer vehicle. High residuals allow you to lease a $5,000 - $10,000 more expensive vehicle for about the same payment as financing.

·      Tax Savings. In states with sales tax, you only pay tax on your monthly payment, not on the whole vehicle. And in some cases, the entire lease payment may be tax deductible. Consult your accountant for more information.

Your Options at the end of your lease

·      Return it to the bank and pay only a small disposition fee.

·      Sell the vehicle and keep any amount over the residual.

·      Trade it in on a new vehicle.

·      Buy the vehicle for the residual amount.

Lease Terminology

·      Cap Cost: The purchase price of the vehicle plus the acquisition fee.

·      Acquisition: Fee a fee charged by the lender for doing the lease.

·      Cap Cost Reductions: Any trade equity, cash or rebates used as a down payment to reduce the cost of the vehicle.

Residual is a predetermined estimate of the market value of a vehicle at the end of the lease term.



Your privacy is important to us.

Audi San Juan takes your privacy seriously and does not rent or sell your personal information to third parties without your consent. Read our privacy policy.

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Contact

Audi San Juan

1001 East Expressway 83
Directions San Juan, TX 78589

  • Sales: (956) 567-0134
  • Service: 956-475-3801

Hours

  • Monday 7:30am-7:00pm
  • Tuesday 7:30am-7:00pm
  • Wednesday 7:30am-7:00pm
  • Thursday 7:30am-7:00pm
  • Friday 7:30am-7:00pm
  • Saturday 8:30am-6:00pm
  • Sunday Closed