Common Finance Terms

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Does the process of buying a car have your head spinning? Here are some common finance terms to help you understand what goes into negotiating the cost of your vehicle from us here at Steet Ponte Mazda.

Annual Percentage Rate (APR): The amount of interest you will pay on a yearly basis, expressed as a percentage. Essentially, this is the cost of credit.

Credit Report: A document that details your credit score and history, typically checked by companies to review the likelihood of you paying faithfully on a loan.

Credit Score: A three-digit score used by financial institutions to determine whether or not lending you money would be a trustworthy investment.

Down Payment: The amount of money you put towards the cost of your vehicle up front, which reduces the amount you owe and monthly payments.

Finance Charge: The cost of credit, but unlike APR, this is expressed as a dollar amount rather than a percentage.

Negative Equity: The amount of money owed on a vehicle that surpasses its current market value.

Repossession: In the event that an individual is unable to make regular timely payments towards the amount owed, the vehicle will be "repossessed" or taken by the financial institution that lent them the money.

Total of Payments: The total amount you will have paid after you have completed all monthly payments, including interest, which is typically listed on a contract.


 
Finance Manager Rich Ernst

Hours

  • Monday 9:00am - 8:00pm
  • Tuesday 9:00am - 8:00pm
  • Wednesday 9:00am - 8:00pm
  • Thursday 9:00am - 8:00pm
  • Friday 9:00am - 6:00pm
  • Saturday 9:00am - 5:00pm
  • Sunday Closed
See all department hours

Dealership Hours

  • Monday 9:00am - 8:00pm
  • Tuesday 9:00am - 8:00pm
  • Wednesday 9:00am - 8:00pm
  • Thursday 9:00am - 8:00pm
  • Friday 9:00am - 6:00pm
  • Saturday 9:00am - 5:00pm
  • Sunday Closed

Parts Dept. Hours

  • Monday 7:30am - 5:00pm
  • Tuesday 7:30am - 5:00pm
  • Wednesday 7:30am - 5:00pm
  • Thursday 7:30am - 5:00pm
  • Friday 7:30am - 5:00pm
  • Saturday 8:00am - 12:00pm
  • Sunday Closed

Service Dept. Hours

  • Monday 7:30am - 5:00pm
  • Tuesday 7:30am - 5:00pm
  • Wednesday 7:30am - 5:00pm
  • Thursday 7:30am - 5:00pm
  • Friday 7:30am - 5:00pm
  • Saturday 8:00am - 12:00pm
  • Sunday Closed
  1. Steet Ponte Mazda of Yorkville

    5074 Commercial Dr
    Yorkville, NY 13495

    • Sales: (888) 464-2912
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