Key Financial Terms from your Toyota Cars Dealer

When you are buying new or used Toyota Cars in St. Louis, it is our number one goal to help you get into the car you desire with no hidden, small fine print, and no shady hand shakes.  Gone are the days where customers feel unsure about how they have been treated or what kind of a deal they have gotten.  The new age of Internet technology has really provided the auto industry with a sense of transparency where customers can easily research the deals they are trying to get and can know right away wither or not they are being treated fairly.  Luckily, this has always been the goal behind the business transactions with Weiss Toyota.  It is always our goal to give you all of the tools you need make the most well-informed and best financial decision for you and your family with this very important purchase.  Over the next few articles, we will give you more key finance terms to know when you are shopping for a new or pre-owned car, truck, SUV or minivan.

When borrowing money to buy a car, there should never be hidden fees. To make the most of your money you need to make sure you know the lingo. The best way to maintain a healthy bank account is to make sure you are aware of financial terms and their meanings.  Here are a few of the more important terms according to Edmunds.com:

Annual Percentage Rate: This is also known as APR. The number of periods in the years multiplied by the interest rate is how to calculate your APR
Balance: This is the remaining amount of money left to be paid on a loan. Your balance is reduced with every payment you make.

Credit: In the world of finance, having credit means that you have the ability to borrow money. Lending institutions are more likely to lend money when an individual has strong credit.