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If you have ever made a big purchase — especially if it was for something you paid off over time — your credit score almost certainly played a role. This is because lenders use this as a barometer to gauge risk. If you are planning to buy a luxury car and your credit score needs improvement, there are several ways to raise it. This luxury car finance guide offers some tips to help you purchase a new BMW, Mercedes-Benz, or other top-tier vehicle in the Greater Boston area. Pay Off Your Debt Perhaps the best way to boost your credit score is to pay off debt. If you can’t do it completely, start with the smallest debt, and focus on your credit cards. You may also want to look into consolidating your debt to limit the number of payments you need to make. Fix Credit Errors Many people have low credit scores in part because of errors that they don’t even know about. This is why it pays to get ahold of your credit report and read it thoroughly. If there are any errors or discrepancies, be sure to get in touch with somebody who can help. Use a Co-Signer If you can’t wait to buy a car, having someone co-sign on the loan could be a smart move. As long as this person has a good credit score, this will improve your chances of getting a loan, as well as a good interest rate. And as long as you make your payments every month, this is another thing that will raise your credit score. Lyon-Waugh Auto Group Makes Luxury Car Financing Easy Once you’re ready to get the luxury financing process started, Lyon-Waugh Auto Group near Boston, MA, makes it simple. Just fill out an application online to get pre-approved to finance a new Acura, BMW, Land Rover, or MINI near Boston, a Mercedes-Benz in Burlington, or an Audi in Nashua, NH. Contact our trusted dealers today!

If you’re looking into a luxury car lease, you may quickly come across some terms that could be a little confusing. This guide aims to help simplify things by defining the most important lease terms. Join the experts at the Lyon-Waugh Auto Group to learn more. Term The term refers to the length of the lease. You can generally get a lease between 12 and 60 months, but 36 months (three years) is the most common option. Money Factor This is the interest you will pay on the lease. It will be represented by a number like this: 0.0025. When you multiply that by 2,400, you will get a more understandable percentage. Cap Cost and Cap Cost Reduction The cap cost is the total amount of the lease. In addition to the price of the vehicle, it includes any other expenses, such as service plans or gap insurance (see below). The cap cost reduction is anything that lowers the cap costs, such as trading in a vehicle. Residual and Depreciation The leasing company will want to know what the value of your car will be when the lease expires, and this is the residual. Its loss in value is known as depreciation. Gap Insurance Gap insurance is something that will be included with your lease, and it benefits you as well as the dealership. If your car is stolen or totaled in an accident and you owe more money than it was worth, gap insurance will give you the funds needed to cover the difference. Need More Info About Leasing? Contact Lyon-Waugh Auto Group in Greater Boston, MA If you have questions about a luxury lease, get in touch with Lyon-Waugh Auto Group. If you’re looking for an Acura, BMW, Land Rover, or MINI lease near Boston, a Mercedes-Benz lease in Burlington, or an Audi lease in Nashua, NH, our team is here for you. Contact us today!

Once you decide it’s time to replace your old vehicle, while you could certainly buy another one, you may also want to think about leasing. If you’re not sure if you should buy or lease a luxury car, this guide will help you decide. Why Buy a Luxury Car? If you want to own your car, clearly buying is the best decision. This enables you to add customizations and drive unlimited miles. Ownership also gives you something of value, which allows you to build equity. And, when a car is yours, you can sell it or trade it at any time. The only downside of buying is that it can be pricey. Why Lease a Luxury Car? If you just can’t make up your mind about which vehicle to get, leasing is probably your best choice. You can try out one car for a while, turn it in, and try out something else. Many people decide to lease because it’s a cost-effective way to have a car. In addition to being less expensive than buying, you aren’t financially tied to a car for very long. Another positive aspect of leasing is that if at some point you decide that you want to own the vehicle, you will be able to start the financing process. The only negative with leasing is that you can’t add any customizations, and there will be a yearly mileage restriction. Make the Right Choice at Lyon-Waugh Auto Group If you’re not sure which option is right for you, Lyon-Waugh Auto Group can help you decide. Visit one of our dealerships located in Greater Boston or New Hampshire to learn more about buying or leasing. We’re here to help!

If you’re looking to buy a car and don’t want to pay for it all at once, auto financing is a great option. This allows you to pay for the vehicle over time with affordable monthly payments. When applying for a loan, one of the areas lenders will look at is your credit score. And while a lower score won’t preclude you from getting a loan, it may increase the interest rate. Fortunately, there are things you can do to raise your score. Check Your Credit Report The first thing you should do when planning to finance is to check out your credit report. Your score may be better than you know. This also gives you the chance to spot any potential errors and have them fixed, and doing this could immediately boost your score. Pay Off Your Debts Another thing you could do to help your credit is to pay off your debt. If paying it all off isn’t feasible, focus on the smaller debts you have, including anything you might owe your credit card companies. Consolidating your debt may also be a good option. Pay Your Bills on Time One of the main reasons why people have low credit scores is because they are late with payments. If this is a problem for you, think about automating your payments so your bills get paid even if you forget about them. Visit Lyon-Waugh Auto Group for Your Auto Financing Needs While these tips can help you raise your score, you don’t have to wait to buy a car. Lyon-Waugh Auto Group will work with you to secure a loan regardless of your credit history. Get in touch with one of our dealerships in the Boston area to get the financing process started.

When planning to buy a luxury car, it pays to prepare. Because this will be a big investment, you should have as much information as you need to make the most informed buying decision. These are the questions to ask to help ensure you get the right car at the right price. What are My Must-Haves? You should start by thinking about the things you need your car to have. This could include ample room for passengers, advanced tech components, or the latest safety systems. If performance is important to you, consider things like power and handling. The more detailed you are, the easier it will be to narrow down your options. What are My Nice-to-Haves? Now, think about the features that you don’t necessarily need but would be nice to have. Perhaps this includes heating and ventilated seats, wireless device charging, or a hands-free power liftgate. If they’re not standard, you may be able to upgrade to get these amenities and any others you’re thinking about. What’s My Budget? Once you know what you want your car to come with, you can start thinking about your budget. If you’re financing, you should begin by considering how much you can supply for a down payment. A trade-in vehicle can help with this. Then figure out how much you want to pay every month. How Do I Start the Financing Process? When you’re ready, you can get the financing process going very easily. Lyon-Waugh Auto Group makes it simple, as we have an online form that will get you pre-approved for a loan. Once submitted, one of our financing professionals will contact you. Can I Buy a Luxury Car with Lyon-Waugh Auto Group? Absolutely! If you have any further questions about buying a luxury car, contact the friendly professionals at Lyon-Waugh Auto Group. We’re ready to get you behind the wheel, so schedule a test drive today!

If you’re thinking about a luxury car lease, you may already be picturing yourself driving a fantastic new model. But, before you can get to that point, all the financial aspects need to be worked out. Understanding these terms can help you make good decisions. Lease Term The term is the length of the lease, which generally lasts between 24 and 60 months. Capitalized (Cap) Cost The cap cost is the total cost of the lease including interest. Capitalized Cost Reduction The cap cost reduction includes anything that reduces this, such as a trade-in vehicle. Money Factor The money factor is the interest you will pay. This is represented as a number that may look like this: 0.0020. Multiplying that by 2,400 will help you determine what you will need to pay. In this instance, the rate is 4.8 percent. Depreciation and Residual Depreciation is the drop in the value of your car, which has a big impact on the residual. This is what the vehicle is worth at the end of the lease, and this is important if you want to buy it. Gap Insurance Because a leased car is still owned by the dealership, they will want to ensure it’s protected in the event of an accident. This is why your lease agreement will include Gap Insurance, which offers coverage if there’s a total loss. Get All of Your Leasing Questions Answered at Lyon-Waugh Auto Group If you have questions about leasing or the lease process, get in touch with Lyon-Waugh Auto Group. You can also visit one of our dealerships in the Boston area to speak to a leasing professional. Schedule an appointment today!

Are you shopping for a luxury car and planning to finance the purchase? Whether this is the first car you’re buying or just the first time with luxury car financing, this guide will help you understand what this involves. The Basics of Financing With financing, you put up some money right away for the down payment and the rest you will borrow. The recommendation is to supply 20 percent of the sale price. Using an older vehicle as a trade-in can help with the down payment. Then you will pay off the loan — as well as the interest — over time every month. Car Loan Length The length of car loans, also known as the loan term, can vary pretty significantly. They can be as short as a year or perhaps as long as seven years. It will be up to you to decide on your loan term. Somewhere in the middle is probably your best bet, as this can result in reasonable monthly payments without having too much interest accrue. Cutting Financing Costs There are things you can do to reduce your financing expenses. Choosing a cheaper new model or a pre-owned or Certified Pre-Owned vehicle can help you save quite a bit. If you can swing it, you could also put up a larger down payment so you won’t have to borrow as much money. Going with a shorter loan term – while it will raise your monthly payment – will end up saving you a lot in interest. Starting the Financing Process in Peabody If you’re ready to get the financing process started, Lyon-Waugh Auto Group in Peabody aims to make it easy. Contact us and we will help you get pre-approved and behind the wheel in no time!

If you’ve never leased a vehicle before, you might think that it is a complicated process. The truth is that it may be a lot simpler than you realize. If you’re ready to lease a luxury car, this guide goes over the steps to take. Choose Your Vehicle The first step in the leasing process is to pick out the car you want. The dealerships in the Lyon-Waugh Auto Group family always have a big selection of luxury models to pick from, including those from Acura, BMW, and Mercedes-Benz. Plus, we offer a variety of quality pre-owned and Certified Pre-Owned vehicles. Pick Your Lease Term Your next consideration is how long you want to lease your car for. You could go as short as a year or perhaps as long as five years. Most people lease a car for three or four years. It’s important to note that the shorter the lease, the higher your monthly payments will be. Consider Using a Trade-In Vehicle If you’re looking for ways to cut costs with your lease, you should consider trading in your current vehicle. While leasing doesn’t require a down payment, you will need to put up some initial fees, and the value of your trade-in could take care of those. They also may be able to reduce how much you will need to pay every month. Lyon-Waugh Auto Group Makes the Leasing Process Easy If you have any questions about leasing a luxury vehicle, get in touch with the Lyon-Waugh Auto Group in Peabody, MA. We can show you what’s in stock and help you pick out the right car with the right lease terms. Visit us today!

We know that buying a new vehicle is a big investment and can be overwhelming. It’s important to weigh all your decisions, including your auto financing options. Our financial experts at Lyon-Waugh Auto Group have a few tips to help you budget for your purchase. 1. Get Pre-Approved You’re always welcome to visit our dealership to apply for financing, but did you know you can also apply online? Simply submit a few details about your current finances and we’ll help you determine how much you can afford and your eligibility. We’ll take a look at your income, work history, and any existing debt to see what a reasonable investment would be. Then, we’ll submit your information to our trusted network of lenders to find competitive rates and terms that work for you. 2. Consider Your Budget Keep in mind that even if you get approved for the amount you need, that doesn’t automatically mean that it’s a right fit for you. You want to make sure that you feel comfortable with your payments. By using an auto payment calculator, you can get an estimate of your monthly payment. Submit your vehicle’s total cost, then look at how a down payment, interest rate, and term can affect your payment. 3. Budget Expenses When looking at vehicle expenses, it’s important to remember that there are other factors than just your car payment. By law, it’s required that all vehicles are registered and insured. You’ll also have maintenance costs, repairs, car cleaning expenses, and fuel costs. Experts recommend that you keep your total car expenses under 20 percent of your take-home pay. Ready to look at your auto financing options? We encourage you to reach out to our Lyon-Waugh Auto Group car dealerships near Peabody, MA to determine your eligibility. We’ll help you find the perfect car for your needs!

Over the past few years, car-buying has changed for the better. Here at Lyon-Waugh Auto Group, we’re seeing more and more customers who prefer to shop from home. That’s why we’ve made securing an Audi lease from home as convenient as possible. How Does a Lease Work? When you lease a vehicle, you only drive the vehicle for a predetermined term. At the end of your term, you can buy the vehicle or return it to the dealership. You can still apply for a loan to cover the total cost of your lease. The total cost of your lease is the estimated depreciation of your vehicle’s value during your lease term. What are the Benefits of Leasing? There are so many benefits to leasing a vehicle. For starters, leasing is much more affordable than financing. You only drive the vehicle for a limited time, so you are only responsible for a portion of its total value. Plus, leasing allows you to continuously upgrade to new vehicles with new designs and technology. With a new vehicle, you’re likely to have less maintenance and repair costs as well. Can I Lease from Home? Absolutely! First, you’ll want to get approved for financing with our online application. Then, you can conveniently shop online from the comfort of your home. Once you find the ideal vehicle(s) for you, we can bring the vehicle(s) to you for a test drive. We can even give you financial advice, show you our special offers, and pick up your vehicle for service. Have questions? Reach out to our car dealership. We’re happy to help you shop from home anytime!

If you're getting ready to buy or lease a luxury car, you may be wondering what the real differences are between the two options. Is taking out an auto loan really the best idea for you? Is leasing a good option considering your driving habits and needs? At Lyon-Waugh Auto Group, we've sold and leased many luxury vehicles. We can help you figure out which will work best for you. Benefits of Leases Leases are a popular way of getting behind the wheel of a new luxury car for a few reasons. The first advantage of a lease is that monthly lease payments are often lower than monthly loan payments. Generally, you also won’t have to put down as much money upfront. Lessees also don't have to worry about depreciation. At the end of your lease, all you have to do is turn in your vehicle. Afterwards, you can upgrade to a new model, which also makes leasing great for drivers who love getting the latest tech features. You can also buy your leased vehicle or extend the lease for a few months. It's a flexible arrangement that many drivers appreciate. Benefits of Loans Opting for luxury car financing over a lease can be a good idea if you plan to keep your car for a long time. Once you pay off your loan, costs of ownership drop off significantly. Taking out a loan also means that you’ll actually own your vehicle. This frees you from some of the limitations of a lease. For example, you can't customize a leased car with performance parts or accessories. You also can't drive a leased car too far each year without coming up on mileage limitations. Visit one of our luxury car dealerships if you want to learn more about leases and car loans. We'll help you figure out which method works best for you!

You may not have realized that you have financing options when you're buying a pre-owned car. You don't have to pay in full for a used vehicle. Instead, you can finance a used car at Lyon-Waugh Auto Group and keep some money in your pocket! Why Finance? Financing a car is a great idea if you have good credit. If you can qualify for a loan with a low APR, you can pay off your vehicle over time without worrying too much about interest. You don't have to drop a lot of money at once so if you have other expenses pop up, whether they are automotive in nature or not, you don't have to worry. You apply for financing just as you would when buying a new car. We look at your income, credit history, and other financial obligations to see if you would be a good candidate for a loan. If you're approved, you make monthly payments and pay off your car over a few years. Then you just have to worry about other costs of ownership, like insurance and fuel expenses. Certified Pre-Owned Rates We also sell a variety of Certified Pre-Owned cars from different brands. These can come with extras, like additional warranty coverage or access to roadside assistance programs, but they can also be offered at special financing rates. Ask about our latest offers and see if one of these capable CPO luxury vehicles is right for you and your family. If you have any more questions about financing or used cars, our New England luxury car dealers would be happy to answer them. Visit one of our locations today and find a luxury vehicle that suits your budget and driving needs!