So you have finally found the vehicle you have been looking for! Below is some information and some tools to help you understand your purchase. As always if there is any other questions or concerns please feel free to contact us at anytime.

Protecting your investment

Manufacturer Warranty (Extended Warranty):

It is almost industry standard now for a car, truck, van, or SUV to come with some sort of manufacturer warranty. Typically, a vehicle is covered by either a bumper-to-bumper warranty (basic), a powertrain warranty, Emissions warranty and a Corrosion warranty. Each manufacturer's terms and length will vary.

Extended Service Contracts:

If the vehicle you are purchasing is out of manufacture warranty you may be responsible for any future mechanical problems. A service contract is an optional product that you may purchase and can be included in your sale contract. These warranties cover most mechanical and electrical components of your vehicle and can be extended up to an additional 100,000 miles.

Guaranteed Auto Protection (Gap) Insurance:

GAP insurance is the difference between the actual cash value of a vehicle and the balance still owed on the financing (car loan, lease, etc.). In the event of a total loss, fire or theft your insurance might not pay off you car loan, gap insurance covers the difference and/or balance.

Financing Key Terms

Amount Financed:

Amount financed is the dollar amount of the credit that is provided to you. In direct lending, you get a loan directly from a bank, finance company, or credit union. You agree to pay, over a period of time, the amount financed, plus a finance charge. Once you enter into a contract with a dealership to buy a vehicle, you use the loan from the direct lender to pay for the vehicle.

Interest Rate:

Interest rate is the amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets. Interest rates are typically noted on an annual basis, known as the annual percentage rate (APR).

Down Payment:

A down payment is an initial amount paid to reduce the amount financed.

Finance Charge:

A finance charge is any fee representing the cost of credit, or the cost of borrowing. It is interest accrued on, and fees charged for, some forms of credit. It includes not only interest but other charges as well, such as financial transaction fees.

Monthly Payment:

The dollar amount due each month to repay the contract.

Negative Equity:

The amount owed on a vehicle above its market value. For example, if your credit payoff is $18,000 and your vehicle’s market value is $15,000, you have negative equity of $3,000.


If you do not make timely payments on a vehicle, your creditor may have the right to repossess it without going to court or warning you.

Understanding your Credit

Credit Score:

Your credit score is a number that reflects the credit risk you present based on information in your credit file. The better your history of credit, the higher your score. Your credit score may be used to help decide the rate and other terms you are offered.

Credit Report:

A credit report is a document that includes information on where you live, how you pay your bills, and whether you have filed for bankruptcy. It provides lenders a description of your credit history.

Below is a payment calculator to get an estimate of your monthly payments

Payment Estimator
Cash Down:
Trade Equity:
Interest Rate:
Estimated Monthly Payments

Port Motors  

267 N Military Trail
West Palm Beach, FL 33415
Phone (800)906-6101
Text (754)217-6312


Monday: 9:00 AM - 7:00 PM
Tuesday: 9:00 AM - 7:00 PM
Wednesday: 9:00 AM - 7:00 PM
Thursday: 9:00 AM - 7:00 PM
Friday: 9:00 AM - 7:00 PM
Saturday: 9:00 AM - 6:00 PM
Sunday: 12:00 PM - 4:00 PM