Genesis financing may feel daunting, but our team at Jenkins Genesis of North East Jacksonville is here to demystify the process, so you can focus on picking out your dream car. We’re sharing everything you need to know about the pre-approval process, including how to increase your chances of getting pre-approved. Get started on the Genesis financing journey at our dealership.
Check Your Credit Score
Your credit score is one of the most important factors to consider when submitting a finance application. It tells lenders how reliable you are as an applicant, and can affect term conditions, including interest rate and term length. You want to check your credit score early on in the process, so you know what types of vehicles will be available to you, and so you have the time to raise your credit score.
Use a Co-Signer
A co-signer is a person who agrees to take responsibility for the loan in the event the original applicant fails to do so. A second signer functions as a fail-safe for the lender, increasing your chances of both getting approved and accessing favorable term conditions. A co-signer is most helpful if they have good credit and a good history of repayment.
Put Down a Larger Down Payment
The down payment is the amount of money you give to the dealership on the day of vehicle purchase. The more money you can put down, the more quickly you’ll be able to pay your loan off since your monthly payments will be smaller. A larger down payment means a smaller risk for the lender and will therefore increase your chances of approval.
Begin Genesis Financing in Jacksonville, FL
When the time comes to finance your next Genesis vehicle, Jenkins Genesis of North East Jacksonville is here to help. We provide tools and resources to help you along the way, including an online finance application and savings on select models. Learn about your financing options and get pre-approval support today!
