Finance a Used Vehicle From K & R Auto Sales

We at K & R Auto Sales carry a wide selection of used vehicles from top automakers. If people rather finance, we offer our customers in Portland, ME financing services. There are many benefits to financing a used vehicle at our location in Auburn, ME.

How Used Vehicle Financing Works

When you apply for financing, you get a lump sum to pay back in installments to the lender. The payments are typically made monthly based on 12-month periods ranging from 24 to 84 months. Several factors influence what you pay, which may include down payment, interest, credit score, and make and model.

You own the vehicle without restrictions and may sell or trade it after you pay the loan. Making timely payments also helps improve your credit rating, which may get you better rates in the future. Financing allows you to buy a vehicle immediately without saving for the full cost.

Financing Terms to Know

Many lenders include the annual percentage rate, or the yearly cost to borrow money, plus fees. The interest rate is a percentage commonly added to the monthly payment based on the principal. The down payment is an out-of-pocket cost you Lewiston and Augusta shoppers pay upfront and is deducted from the purchase price. Equity is the difference between the current worth of the vehicle and what you currently owe on the loan.

Apply for Financing Online

If you're from the Brunswick area and can't get to our dealership, we make it easy to apply for financing online using our tools. You may use our pre-qualifying tool to estimate the amount you are allowed to borrow and find the best deal. It won't lower your credit score and saves you time and fuel since you apply from your home. After you submit the application, you will get a response in only a few minutes. Once you know how much you may borrow, you can apply for the full amount.