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How to Finance Your Mitsubishi in B.C

How to Finance Your Mitsubishi in B.C

The process of purchasing a new vehicle can be intimidating and confusing to some people. If you do not have the money to purchase a vehicle in full, you will need to go to a finance company to try and get a loan for the car. Luckily, Mitsubishi makes owning and financing a vehicle a simple and hassle-free process. Keep reading to learn how to easily finance a Mitsubishi vehicle in B.C.


What Are Your Financing Options?

When you want to finance a vehicle, there are a few options available to you. First, you can go to a bank or credit union and apply for an auto loan. Many people prefer bank loans as they usually come with lower interest rates. However, getting a bank to approve you for a loan can be a little difficult for some people due to the fact that banks usually require you to have a high credit rating.


The other option is to apply for a dealer-financed auto loan. Many consumers prefer this method because automotive companies are known to frequently have promotions that give the consumer several incentives, including low down payments. Also, dealerships are able to have more flexibility when it comes to low credit scores.



What is the Difference Between Leasing and Financing?

When trying to purchase a new car, the automotive dealer will usually ask you if you want to finance the car or lease it. For years, many consumers have mistakenly used these two terms interchangeably. However, financing and leasing are two vastly different things.


If you plan on financing a vehicle, you are borrowing the money from a financial institution for the full amount of the vehicle with the promise that you will make monthly payments to repay the debt you owe. Once you have paid off the debt, you will then own the car, which means that you can then sell it, modify it, or make any changes that you want to the vehicle because it is your personal property.


When leasing a car, you are making monthly payments to use the vehicle for a specified amount of time. Once your leasing contract is up, you then have to either return the vehicle or pay for it in full. Leasing usually comes with lower monthly payments. However, because you do not own the vehicle, you will not be able to make any modifications to the car. And if any part of the vehicle is broken or damaged, you will usually be held financially responsible for having it fixed or replaced.


Financing a Mitsubishi

Mitsubishi makes financing a vehicle simple. They offer exclusive deals for both financing and leasing, and they run frequent promotional deals throughout the year that help you save even more.

Mitsubishi also offers special buyer programs that include:

  • Mobility Programs
  • Mitsubishi First Auto Program
  • Military Customer Rebates
  • Customer Loyalty Discounts


If you are looking for an easy and hassle-free way to finance a new or used Mitsubishi, contact our finance department today. We have a full team of experienced financial professional that will work with you to help you find the right loan terms that will fit your needs and your budget.

Categories: Financing