Financing Through a Dealership: Finding Great Rates
Virtually all modern cars are financed in this day and age, making it especially important to understand your financing options. Generally, there are three ways to get a loan for your car—through a bank or credit union, through the dealership, or through a private lender. While banks and credit unions often claim to have the best options, there are some reasons to consider financing through a dealership.
Typically, dealerships have access to a wide array of financial institutions, as well as car-buying options. According to JD Power, this is largely due to the fact that dealerships have financial experts that deal with financing on a daily basis, developing connections and learning all the tricks of the trade. When you shop around for a loan on your own, it can be difficult to find the best rates or the right financing for you, especially if you don’t know where to start.
Dealership financial experts can also help you get the monthly payments you want to pay. This is great news for people on set budgets, including recent graduates, part-time workers, or elderly car buyers. If you have a set income, simply let your dealer know how much you can afford per month and they can help you reach that goal.
Finally, financing through a dealership is hassle free. Despite what some people might say, it can be nerve wracking and time consuming to search out banks across your town that will give you a loan—something the dealer can do in-house in a matter of minutes. If you want an easy car-buying experience, come to Haddad Nissan.