Are you ready to buy a new car but have concerns about the process? Our GMC dealer near Paterson aims to increase transparency and break down the barriers that stop you from buying a new vehicle. Learn more about common finance terms. Then discover GMC lease deals available at McGuire Buick GMC.

Common finance terms

Navigating the paperwork can be tricky. But once you know what the words mean, then it’s easier to see what you’re getting into. When looking over our website, or filling out your finance application, here are a couple of terms that you’ll come across.

Finance. The term finance means you’re taking out a loan for your car. Our GMC dealer offers a variety of loans for both new and used models. When you pay off your loan, then you own your vehicle in full.

Lease. A lease is like a rental agreement. You pay monthly payments to rent your car for a limited number of months. At the end of your contract, then you return your vehicle to the dealership.

APR or interest. This is the amount that lenders charge you to borrow their money. APR stands for annual percentage rate. The higher your rate, the more you’ll pay over the life of the loan.

Term length. This refers to the number of months that you make a payment on your car. Many new car loans extend up to six years, while leases typically go for three or four years.

Find GMC lease deals near Paterson

Finance or lease your next car from McGuire Buick GMC near Paterson. Please browse our website for available incentives or stop into our dealership. Our team will work with you to find the best prices for your new model, including available GMC lease deals.