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Buying a vehicle is an exciting time, especially if you’re making that decision in the springtime! If you’re finding fresh wheels for your trips in the fresh air, it’s important that you know all of your financing options.

Brian Daly, Vice President of Fidelity Bank & Trust at our Epworth branch, puts you first when it comes to financing.

“At Fidelity, all we care about is the benefit of the borrower,” Daly explains. “Our customers come to us because we’re always looking out for their best interests.”

Before you purchase a vehicle, you can come talk with us at Fidelity Bank & Trust to get pre-approved and determine your payment strategy. That way, you enter the process armed with knowledge.

“Shopping for a new car can be stressful,” Daly said. “There is a lot to consider and when you’re on the lot it can be a bit overwhelming. We try to prevent that by giving you information up front. When comparing pricing, take into consideration the additional fees you may be assessed.  Sometimes a dealership will sell you insurance or warranty products you may not need.  This will increase your payments and may cost you thousands more over the life of the loan.”

If you’re looking to refinance a vehicle, we can help you with that,

“There are numerous factors to take into account when you’re considering refinancing your car,” he said. “Your credit score is most important, as well as the current market rates, and your debt-to-income ratio.”

Another element to consider is whether refinancing will extend your loan.

“Sometimes, refinancing may lower your monthly payment, but by extending the loan you end up paying more interest than you would have with your initial loan,” Daly explained.

Fidelity Bank & Trust is your Hometown Bank. We want our customers to be equipped with the most information to make the best financial decisions.

If you have any questions about financing a new vehicle purchase or refinancing, please give us a call or stop by your local branch!

Member FDIC. Equal Housing Lender.