Understanding common finance terms can help tremendously when you are ready to finance a new vehicle.  

While it may seem like a confusing process, our team is ready to help you with your next Nissan finance to make your car shopping journey as seamless as possible at Hall Nissan Chesapeake.   

Common Finance Terms  

• Finance - Financing a new Nissan vehicle simply means to borrow money from a financial institution to pay for it. If you are not paying for the total investment upfront, then you need to finance your vehicle.   
• Lease - If you choose to lease your vehicle, you are essentially "borrowing" the vehicle for a predetermined term. At the end of the term, you can opt to buy the vehicle or return it to the dealership.   
• Interest rate - Your interest rate is a fee you pay each month to your lender. It is measured in a percentage and largely determined by your credit score.   
• APR - Another name for your interest rate. It stands for "annual percentage rate" and is typically the term your lender will use.   

• Down payment - The cash that you pay upfront when first purchasing your vehicle. Some buyers opt to use a trade-in vehicle (your existing vehicle) in place of cash.    
• Principal - The amount you owe for your vehicle that doesn't include your interest rate.  

Finance Department   

It's a common misconception that you should try to secure your financing before car shopping. Our dealership works with so many quality lenders, giving us an advantage in finding you a competitive offer.  

Plus, you'll have the benefit of working with our financial experts to help you find the best route for you. We have beneficial tools too, such as our auto payment calculator, to help make the process easier for you and give you all the assets you need for a smooth financing process.   

Apply for Nissan Financing Today  

Ready to get started? You can conveniently apply for financing online or simply stop in and see the team at our Nissan dealership in Chesapeake, VA. We're happy to help you every step of the way. We look forward to working with you soon!