Ask a Finance Expert at Labadie Toyota

Happy man holding car keys

Ask a Finance Expert
at Labadie Toyota

If you're in need of expert auto financing advice, Labadie Toyota is here to help. The financing experts at our Toyota dealership near Midland have a wealth of experience and can provide you with auto loan tips and guidance to help you finance your next Toyota SUV or car at a low rate. Whether you're a seasoned car-buyer or have bad credit, we're happy to help you find your dream car at a suitable price for your budget.

If you'd like to learn more before visiting our showroom, take a look at our Toyota finance FAQ below to learn from our very own expert, TJ Horner, Executive Manager of Labadie Auto Co. Below, he'll provide advice and suggestions for local Michigan Toyota drivers to use during their next car-buying excursion.

Have more questions? Stop by Labadie Toyota to speak with our finance team in person!

Auto Financing FAQs


How much of a down payment do I need to finance a car?

When financing, it may not be necessary to put any money down to finance a car, or your lender may require you to put a certain percentage down. A common down payment amount is 10%, which will decrease the amount of interest you pay and lower your monthly payments.


What additional costs will I be responsible for when buying a new car?

Any new car will have tax, title and documentation fees. These fees are controlled by the state and have minimum amounts that are required by law to charge.


How can I find the value of my trade-in?

We have tools on our website to estimate your trade-in value. For the most accurate assessment, we recommend that you schedule an appointment for an in-person appraisal.


Does my credit score impact my loan rate?

Yes. Financing institutions will review your credit to determine your financing rate. If you have a low credit score or no credit, not to worry-- we work with all types of credit.


If I have a low credit score can I still finance a car?

Yes! Labadie Toyota works with over 30 lenders to provide as many people with the opportunity to finance as possible. We work with all types of credit and are happy to assist you.


Can I still finance a car if I don’t have a credit history?

Yes! If you are a recent college graduate, Toyota Financial Services has programs for first-time car-buyers. You can have someone cosign (which is just an easier way to say back you up financially), or we can assist you using one of our many lenders that work with all types of credit.


What’s the best length for a car loan?

The best length of a car loan is what works best for your budget. The less time you pay on a vehicle, usually the less interest you acquire and the faster you are free of a car payment. However, paying for a car in cash or financing for 36 months isn’t an option for everyone, which is why we offer multiple term options to ensure you can get the car you want at a payment plan that works for you!


Can you offer a better interest rate than my pre-approved rate?

We can certainly try! Labadie Toyota works with over 30 lenders and can instantly shop those lenders for the best rate. If we can beat your pre-approved rate, great! If not, you know you have the best rate you can get.


Can I reduce my monthly car payments down the road?

Absolutely. Through our trade-in program, we are constantly reviewing the equity you have in your vehicle. If you want to consider a new Toyota down the road, we can see if we can beat your current payment through new incentivized rates and your vehicle’s equity to get you into a new vehicle at a lower payment. You also have the option to refinance, which can sometimes lower payments.


Can I sell my car while I’m still paying it off?

Of course! Keep in mind, however, you are still responsible for the amount you owe on your vehicle. If you owe $10,000 on your car and you sell it for $8,500, you are still responsible for the remaining $1,500 in payments.


Can I add a warranty when I buy a car?

Yes, and we think it is a great idea to do so. We have many offerings, from full warranty coverage to powertrain and even prepaid service. With how complex features like Apple CarPlay® and Lane Keep Assist are becoming, it’s no wonder that the cost to fix those features can be expensive. With an extended warranty, you can have peace of mind that your car is covered.

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