Finance Department

What You Need When Financing At Our Dealership

Obtaining a new car is a two-step process. The first part involves searching for the vehicle that is perfect for you. The second part involves purchasing the vehicle. In order to do so, you need to meet with a dealership's Finance and Insurance office, which handles all of the financial transactions involved with the purchase. However, before the Finance and Insurance office can help you, you will need to supply them with several pieces of information. 

So what information does the Finance and Insurance office require from you? The following components are required in order to provide the Finance and Insurance staff with a complete credit application for your new vehicle:

• Your Name
• Your Social Security Number
• Your Date of Birth
• Your Address and Previous Living History
• Your Current Employment and Previous Work History
• Your Total Gross Monthly Income
• Your Existing Credit Account Information 

Once you provide the Finance and Insurance staff with this information, they can help you complete the finances for your vehicle. That way, you can be driving away in your very own new vehicle in no time flat! If you have any further questions, feel free to talk to our Finance and Insurance staff at Amery Chevrolet. 

Credit Score And Financing

Will Rate Shopping Hurt My Credit Score?

Yes and no. You probably know that each time you apply for a new line of credit you’re normally hit with a hard inquiry. Hard inquiries can negatively affect your score, so moving from lender to lender and piling up a bunch of these in a small period of time is probably not a great idea.

Depending on what type of credit you’re shopping around for and what model you’re getting your score from, the extent of the damage can vary. If you’re looking for an auto loan or mortgage specifically, some credit score models will allow for some level of shopping around by essentially viewing multiple inquiries within a certain time period as just one. Bureaus usually identify the fact that you’re comparison shopping by noticing the types of credit lines you’re applying for and the size of your requested loan, so it may be best to stay consistent. The time period over which you can rate shop under these models without feeling the effect of multiple inquiries can vary and is often from around 14 days to up to 45.