Financing

Education Want to be a smart customer? Before you begin the car-buying process, we highly recommend spending some time with Understanding Vehicle Financing. This pamphlet from NADA, the National Automobile Dealers Association, helps you evaluate your financial situation before financing or leasing a new or pre-owned vehicle. See our Finance Tips section below fo rmore information. As you consider your purchase, here are some terms you might encounter when discussing finance packages with your Lexus de San Juan business manager: Leasing A lease can be a good way to have a more affordable payment than when buying a car. Your lease payment covers only the vehicle depreciated value (plus the lessor's monthly finance charges), not the entire purchase value. We don't recommend leasing a vehicle for longer than its general warranty. For people who drive an average number of miles and take good care of their vehicles, leasing is a good financing alternative. Convencional Financing convencional financing is an installment transaction over a period of time. You agree to pay the amount financed, plus an agreed-upon finance charge. Traditional financing is probably right for you if you like the idea of owning a vehicle or you plan to keep the car for more than a few years. Lexus de San Juan works with many different lenders to offer you competitive rates. Finance Tips Finance or lease - what's right for me? Either could be advantageous, depending on incentives offered by vehicle manufacturers, interest rates in the market and even the time of year you're shopping for a vehicle.If you drive an average number of miles and take good care of your vehicles, leasing may be a good option. Financing, on the other hand, may be a better option for you if you plan to keep the vehicle for more than a few years or if you simply prefer the idea of ownership. The easiest approach? After you pick out a car you like, simply ask your Lexus de san Juan business manager to show you a comparison of current financing and lease deals. Ownership Protection To add to your peace of mind and enjoyment of your vehicle, Lexus de San Juan offers a number of a carte financial products that typically can be rolled into the total cash price of your vehicle and included in your financing package. . Vehicle Service Agreements A service agreement offers extensive coverage of mechanical, electrical and computer components after your basic factory warranty expires. This protects you against the rising cost of parts and labor. It also provides towing and substitute transportation as well as travel protection should something happen while you're away from home. GAP (Guaranteed Auto Protection) If your vehicle is ever declared a total loss, GAP guards you from an unexpected financial obligation by covering the difference between what the insurance company will pay and the balance due on your loan contract or lease agreement. It also provides deductible coverage if a deficiency balance exists at the time of the loss. Credit Insurance In the event of your death, Credit Life Insurance pays the covered balance on your loan contract or lease agreement. If you are disabled because of an injury or extended illness, Credit Disability Insurance covers your monthly loan or lease payment. Benefit payments are made regardless of other insurance coverage. No physical is required to qualify for credit insurance, and you are covered immediately upon approval of your application. For more products or information, please contact Raul Escalera "financing manager" of Lexus de San Juan at: rescalera@penskeautomotive.com