880 Fond Du Lac Ave Kewaskum, WI 53040 262-477-1180


Let's talk about Financing. 
It is a HUGE part of most vehicle purchases but seems to be something that lots of people have many questions about. In fact, it is probably the thing most people ask about. There are dozen of great websites that give you information on types of vehicles, fair pricing, options, and how best to purchase a vehicle, but not any of what financing a vehicle all entails. I am hoping to answer some of those questions with this short piece. 

Here at Serwe Automotive, we do have financing available. This is something that you do not always see independent (used) dealerships like ours. For a dealership to qualify to offer financing, we have to have typically been in business longer than 5 years, a good reputation, quality vehicles, and a solid financial footing. At that point, banks will start to consider partnering with an independent dealer. That is why we hold lots of pride in the fact that we do offer this service for our customers. 

When as a dealership, we partner with financial institutions, be it Banks or Credit Unions, that is called indirect financing. This is opposed to in-house financing, which is more commonly called, buy-here-pay-here. This you see almost exclusively for cheaper vehicles, and for customers with extremely challenged credit. The reason I say extremely challenger credit is because there are Banks, that we are partnered with that will fiancing people with lower credit. We have personally helped people with 540 credit scores in the past with these banks. I could write pages on what is commonly known as Sub-Prime financing, and at some point will. if you are someone that might have less than stellar credit, please reach out to us and let us help you work through your situation. It is extremely easy to be taken advantage of and even if we cannot help you, we can guide you to what your best options may be.

For everyone else, financing still can be confusing. Here at Serwe Automotive, we try and make the process as easy as possible. What we like to do is have our customers fill out a credit application, found on our website. We take that information, look at what vehicle you are looking at, and match you with the best bank or credit union. Currently, as I write this post (02/02/2021), interest rates are as low as 1.99%. Now those rates are available for short term (36 mo.), newer vehicles (2018 and newer), with a 20% down payment... See how it can get confusing! Most of our customers, with good credit, qualify for 60-75 mo. terms with rates falling between 3.29-3.99% APR. 

I hope so far this has been somewhat enlightening on a few of the basic questions we run across when it comes to financing. It is an ever-changing part of our business and something that we find to be a great value that we offer to our customers. I now am going to do some rapid-fire topics and how they can impact your loan...

APR/ Interest rate: This is the "cost" of borrowing the money.

Term: This is the length of time you have to pay the loan back. The term is normally based on the year and mileage of the vehicle you are borrowing against. The typical range is between 36 - 84 months. 

Down Payment: They are not always necessary. I would say around 30-40% of the deals we fiance have no money down. In the past, banks would like to see upwards of 20% down on a vehicle, but with interest rates at all-time lows, banks have seen less of a need for a down payment. Some of the benefits of down payments are... 
-lower monthly payments
-possibly lower interest rate
-easier to trade out of your vehicle soon 

Income: This comes into play when you have other outstanding debts. Banks want to make sure your monthly payment is something you can afford. Your income comes parted to your current monthly debt you have to pay (known as debt to income level). Different banks have different level they allow for DTI and depends on the level of income you have. 

Employment: Similar to income, employment plays a role in approval as well. Typically banks will ask for your previous 2 years of employment. What they are looking for is stability. Just because you switch jobs recently does not me that banks will not be financing you. BUT if you change jobs as often as you get hair cuts, banks will shy away. 

Residency: This plays a role in DTI just like income when looking at your mortgage payment or monthly rent. As well as employment, if you are moving from State to State or City to City, this will also be a red flag for banks. 

Co-signer: Typically co-signers are needed to younger people with limited to no credit experience. It is kind of like job experience. You need a job to have job experience, but you need job experience to get a job. Same thing for credit experience. That is where having a parent co-sign on the purchase will help. Also, for people with less than perfect credit, co-signers can be a way to qualify for a loan as well. 

As you can see, Auto loans can be a complicated deal. Next to buying a house, it's the biggest purchase you will make. We are here to help make that process as easy as possible. We hope this post has given a little clarity to the situation. Although we only have scratched the surface, please feel free to get in touch with us with any questions you might have. 

Thank you, 

Serwe Automotive


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Why Buy From Us


Here at Serwe Automotive, we pride ourselves on offering the highest quality vehicles and an upfront buying experience. We are a tried and true, family-owned, and operated dealership. Charlie Serwe, our owner, has owned and operated several dealerships for the past 30 years and handpicks every vehicle on our lot. We search through thousands of vehicles every week looking for only the highest quality available, and we leave those that do not meet our high standards for our competitors to sell.  We do not buy any vehicle we personally wouldn't own for ourselves. You will NEVER find a salvage title, lemon law, flood vehicle, or any other "troubled" vehicles on our lot. Although vehicles like this may be "priced right", they tend to be big problems in the future, and will not be found on our lot.

When you come to browse our hand-picked inventory, Lucas Serwe will be there to greet you, take time to understand where you are in the buying process, and answer any questions you may have in a fast and friendly manner. 

How many times has this happened to you?

-Walked into a dealership only to be treated like you were interrupting the salesperson from finishing their morning coffee

-Feeling ignored if you weren't quite ready to buy that day

-Being pressured into signing paperwork without it being clear what it is you are signing

-Playing back and forth games and being told " let me talk to my manager"

-Agreeing to terms, only to have them changed when you get to the financing office

-Holding your keys or drivers license hostage and not letting you leave

This list of horrible business practices can go on and on, and NONE of these things will happen here at Serwe Automotive. If you are looking for a clear and upfront car-buying experience with one person working with you, we are the dealership for you! Come by and Lucas will be happy to help answer your questions, go on a test drive, put together a clear proposal of terms, secure your financing, and help you with all of the final paperwork. We believe one person working with customers throughout the entire car-buying process, from start to finish, is another business practice that sets us apart from other dealerships.

And so, if you are looking for a high-quality, used vehicle that you can trust, an easy buying experience, and a fair deal then Serwe Automotive is the dealership for you! Feel free to call us any time at 262-477-1180, email Lucas at lucas@serweauto.com, send us a message from our website, or stop in to see Charlie and Lucas today!

Full Spectrum Financing

We are extremely excited about the addition of FULL SPECTRUM FINANCING! We have recently partnered with the top lenders in the nation to offer financing for all! With these great lenders, we will not only be able to continue to give the lowest rates, we now can help with less than perfect credit. With our easy pre-approval process, we can help get you on the road with a nicer, newer vehicle. With our help to connect the lenders and yourself, your new auto loan will help you reestablish your credit to start getting you back on track. Apply now on our Financing tab! 

Don’t hesitate to apply even if you’re dealing with any of the issues below:

·         Previously filed for bankruptcy.

·         Currently going through bankruptcy.

·         High balance of credit card debt.

·         Bad or poor credit scores.

·         Have had a car or other vehicle repossessed.

·         Have open collections account on your credit report.

·         Charged off credit cards, utilities or medical bills.

·         Unpaid medical, dental, or Doctor bills


Chevrolet Medium-duty to return in 2019

Check out this article on autoblog. The "new" Chevrolet medium duty has been gone for almost a decade and is set to return in 2019. This segment was removed back in 2009 with the restructuring of GM. It has pushed contractors to go with more expensive, larger models. I believe this will be a huge success for GM with a large pent up demand for an affordable medium-duty truck. Will be interesting to see price point and availability for these truck in the coming year. 


Vehicle Valuation

The best and most reliable vehicle valuation that we at Serwe Automotive uses is Kelly Blue Book (www.kbb.com) or NADA (www.nada.com) 
Both have been in use for decades and are great resources for an shopper. With these tools you can make sure to pay a fair price for your next vehicle and get a great trade in value. Visit www.kbb.com or www.nada.com to start your research today! 

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