Nissan's Official Buying Guide

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Applying for financing or leasing doesn't need to be complicated. In fact, with a good credit history and a simple understanding of financing terms and procedures, it can actually be a relatively easy experience. Here are a few suggestions and details to help you when applying for credit. Click on the "Get Pre-Approved" link above for a quick and easy credit approval. For more in-depth information on credit and how to make it work for you, click on the "Credit Basics" link above. Improve Your Standing: Establishing good credit is one of the most important steps toward purchasing a car. A solid credit history can broaden your financing options and increase the amount of money that lenders are willing to lend you. Nissan dealers can usually find a way to finance people with no credit or an adverse credit history. But, bear in mind, even a few bad marks on your credit record may lead to higher interest rates and ultimately cost you more money in the long run. Months before you buy, cancel extra credit cards, pay off debt, and maintain steady employment. Get a copy of your credit report at least 60 days in advance, so you will know if any errors need to be cleared up.

Down Payment: The bigger your initial down payment, the less you will have to finance. With a lower amount to finance, your total interest charges will also be less. No one knows your personal situation as well as you do, so consider how much you can afford to pay each month, and plan accordingly. Also, do not forget to figure in taxes and other expenses when doing your planning.

Annual Percentage Rate (APR): The APR, or amount of interest you can expect to pay annually, varies from creditor to creditor. When buying a vehicle you can usually take out a loan from banks or credit unions, or apply for financing through other financial institutions, including Nissan Motor Acceptance Corporation (NMAC). Your Nissan dealer can help you with the financing process. Shop around for the best APR, but be aware that lower APRs sometimes come at the expense of other factors such as the number of months you will be making payments (see below). We recommend you check with your Nissan dealer to see what financing options are available.

Length of Term: Finance contracts and leases generally range from one to five years. Longer-term contracts typically have a higher APR than short-term ones, but usually offer lower monthly payments.

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