Top Tips for Financing Your Alfa Romeo

May 20th, 2020 by


When you’re in the market for a new car, there can be a lot of things to consider after you’ve chosen the model of Alfa Romeo that you’re interested in. One of the biggest questions people have is how to finance it. In this blog we’ll go over the different finance options available to you, as well as the best tips to make your financing process smooth and simple. 

Your Financing Options

When you decide to buy a new Alfa Romeo from a car dealership, you’ll have the option to finance, lease, or buy your new car outright. When you finance or buy a car outright, you have the option of purchasing a new or a pre-owned car. When you lease, you are limited to leasing a new car only. 


When you finance a car, you are taking out a loan to cover the total cost of the car. The repayment of the loan is then broken down into an initial down payment and then several monthly payments for the agreed upon time it will take to pay back the loan. At the end of your finance agreement, you will own the car outright. A big benefit to financing for ownership is that you won’t be limited on the miles you put on the car. You will also have the option to trade in your car at any point in time or even pay off the car earlier if you want to do so. 


When you lease a car, you will make monthly payments for a limited amount of time after making an initial down payment (or sometimes no down payment at all). Leasing a car is agreeing to a set number of miles and lease terms. Typically, people will lease a car for three years and then turn the car in to the dealership at the end of the lease. When the lease is over, drivers may have the option to buy the car for the residual price of the vehicle, lease a new vehicle, or simply turn it in. 

Car Financing Tips

Now that you understand the difference between buying and leasing a car, let’s look at some tips to help make the financing process go as smoothly as possible:

Know Your Credit Score

When you finance or lease a car, your payment and APR (annual percentage rate) will be based on how high your credit score is. If you know that you have great credit, you are in a good position for a lower monthly payment and better APR if you are financing. If your credit is less than ideal, that is okay. You may still be able to finance a car but you may need to bring additional documents such as proof of income or provide a higher down payment on the car. 

Put as Much Money Down as You Can

If you want lower monthly payments, try to put down at least 20% of the total purchase price as a down payment. The down payment may be flexible, but by putting down a higher down payment, you are able to keep your monthly payments lower. 

Pay for Any Fees and Taxes in Cash

When you pay for your taxes and fees in cash as part of your down payment, you don’t have to pay interest on them later.

Consider a Co-Signer

If you have low or no credit, you may want to bring a co-signer to the dealership with you. If you do bring a co-signer, make sure they are someone with a good credit score who has a long history of good credit. 

Limit Late Payments

This should go without saying but, when you’re financing a car, be sure to make your payments on time. When you make a late payment, you may have to pay fees and penalties depending on the bank. This is also a great tip to keep in mind to ensure your credit stays in great shape! 

If You Want a Used Car, Shop Certified Pre-Owned

Buying a used car is a great option, but make sure to only look at dealer-certified pre-owned vehicles. These vehicles go through a detailed inspection to make sure they are up to par. No one wants to get a lemon!


Whether you’re buying a new or a pre-owned car, be sure to follow these tips to make the most out of your car buying experience. Financing a car is a great way to drive a nice car and keep building your credit. Give us a call today to schedule your appointment.


Posted in Buying a Used Car, News