First Extended Service Plans

Congratulations on your vehicle purchase!  You've made a great decision, so why not take the next step to protect your investment and assure you enjoy your vehicle for many years to come?

As part of the Orange Coast Total Promise we pride ourselves in having extended service plans that are affordable and custom to your needs.  It is more likely that budgeting a little more a month will be less impactful to your pocket book than the cost of a major repair out of the blue.

The manufacturer's warranty is very comprehensive.  It covers virtually every part in your vehicle and will help prevent you from paying expensive repair bills should a repair be required.  One problem- it ends.  And when it does, you're exposed to the cost of unexpected auto repair.  Doesn't it make sense to protect your investment and control your monthly cost of ownership?

What is First Extended?

First Extended is an extended service plan available on every New and Pre-Owned vehicle we carry.  There are no secrets, we clearly lay out what is and isn't covered in each plan and then based on your needs and driving habits we can build a plan together.

You get to decide what coverage term and mileage works best for you.  The coverage is transferable if you decide to sell your vehicle. (Some restrictions apply. Please see extended service plan's written policy).

This is just an outline of highlights to you extended service plans.  Please ask management for full details and disclosure of coverage and what is not covered on all our plans.

Financing terms:

·         Amount financed: the amount of credit provided to you.

·         APR: Annual Percentage Rate, or APR, is the cost of credit expressed as a percentage.

·         Down payment: the amount of cash or trade equity you apply to your purchase.

·         Equity: the difference between your trade payoff balance and its value. It may be positive or negative.

·         Finance charge: the total dollar amount you pay to use credit.

·         Retail installment contract: the finance agreement allowing for payment over time at a fixed monthly payment amount and rate.

·         Simple Interest: finance charge calculation based on the unpaid principal balance, number of days between payments and the APR.

·         Stipulation: additional documentation/action required to complete the transaction, like proof of income.

·         Term: the number of monthly payments provided for in the retail installment contract.

·         Total of payments: the amount you will have paid after you have made all payments as scheduled in the retail installment contract.

Your Credit Score:

Credit reporting agencies score your credit based on several factors.  There are some differences between the agencies scoring system, but they are similar overall.  Financial institutions use these credit scores to help predict the risk associated with lending for the purchase of (for example) homes, cars, boats, credit cards.

The score is a number usually ranging from about 350 - 850. Typically, the higher the number the lower the risk.

Examples of the factors which account for the score are:

• The timeliness of your payments, including late payments.
• The amount and type of debt you have.
• The number and age of your credit accounts.
• Inquiries created by applying for credit.
• Public records such as liens and judgments.

• Equifax: Web: www.equifax.com Toll-free number: (800) 685-1111
• TransUnion: Web: www.transunion.com Toll-free number: (877) 322-8228
• Experian: Web: www.experian.com Toll-free number: (888) 397-3742

Financing tips

·         Budget 
Make sure the vehicle you are looking at fits into your budget. Our Product Specialist will help find a car you and your wallet will love.

·          Down Payment 
Consider increasing your down payment which typically results in lowering your monthly payment (depending on term) and generally helps the approval process.

·          Detailed Application 
Providing us with detailed and accurate information on your application will save you time and help with approval process.

·          Estimate your trade. 
If you're planning on trading in your vehicle go to our "value trade-in" link to KBB and get an idea of your vehicles value.

Your monthly budget

Most financial institutions recommend that you spend no more than 15% of your gross monthly income (GMI) on your monthly vehicle payment. Examples:

·         $2500 Gross income per month = $375 or less per month

·         $4000 Gross income per month = $750 or less per month

*payments normally range from $20 - $25 per $1,000 financed*

 How Financing Decisions are made:

As part of the Orange Coast Total Promise we want you to have as much information as possible when making your buying decision.  Below are examples of information creditor's use in making lending decisions. 

1.                    Vehicle cost, year, and mileage

2.                    Your Credit Application facts

3.                    Credit history and score

4.                    Down payment

5.                    Equity position of down payment and/or trade in.

Your monthly payment is determined by the following criteria:

1.                    Amount financed

2.                    Term or length of contract

3.                    Annual Percentage Rate (APR)

*For every $1,000 financed your payment will adjust $20-25 per month* 

How our Finance process works:

Buying and Financing a vehicle from Orange Coast will be an experience like no other. Your Product Specialist and Team Leader will be with you through the entire process.  From picking out the vehicle that best fits YOUR needs to selecting which finance option works best for you.  You'll be "in the loop" every step of the way with total transparency.   That's our promise, The Orange Coast Total Promise.  In fact if you can find a better financing option, we'll help you get it!

 The Orange Coast Total Promise is all about making your buying experience fun, easy, and on time. 

It's as easy as 1,2 3!!

• You and your Product Specialist pick out a vehicle you like
• You determine what financing options works best for you