7 Advantages of Financing a Car Through Your Toyota Dealership

When the time comes to get a new ride, if you’re one of those few people who are extremely lucky or absolutely loaded, you may be able to simply cut a check for the full balance and walk away. But, for the rest of us, taking out a loan and financing a car is usually the main move.

Some folks will tell you that it’s best to shop around different banks and lenders to find a car loan, but it turns out that this process may not actually save you money in the long run. It can also be incredibly time consuming, and if you need a car quick, you may miss out on the perfect model.

Here are some of the ways you can benefit from financing a car at your local Kansas City Toyota dealer.

Quick and Convenient

Choosing a third-party lender can take days of research and applications. When you finance a car through the dealership, it’s typically a single-day affair because the entire process is handled under one roof. This is especially important for shoppers with extremely busy schedules and few days off, or people who need a new car fast because their old one is wrecked or in a state of disrepair.

Manufacturer Incentives and Dealership Specials

Major automakers offer exclusive incentives through their network of dealerships. These incentives are usually available on most new models, and they can save buyers and lessees tons of money. The deals offered typically take one of three different forms: low interest financing, lease deals, and cash rebates.

Many dealerships (including ours!) also have monthly specials on both new and pre-owned models. These specials are similar to manufacturer incentives—either a cash back offer on your purchase or a steeply lowered interest rate. Either way, there are tons of ways to save.

Potential Low or No Interest

Because dealerships are continuously running low interest deals, shoppers with decent credit can often walk onto a lot and easily secure an interest rate that’s the same or better than what a bank or credit union can offer.

Timing is also a factor. If a buyer is in a position where they don’t necessarily need a car right away, they may be able to wait for special promotions, which can occur during certain times of the year. The end of the calendar year (specifically October through December) is widely regarded as the best time of the year to get a deal on a car.

Multiple Available Lenders

Dealership finance departments have access to a vast network of loan providers. There are a couple key advantages to this.

The finance department at your local dealership can send your credit application to multiple lenders at once. This streamlines the process and allows shoppers to select the most favorable rate. It also circumvents the need to do multiple applications independently, which may involve a hard credit pull, and can damage your credit if you apply for multiple loans in a short time.

Flexibility and Easy Preapproval

Smaller lenders can often provide attractive interest rates, but you may be limited in terms of where you can actually take the loan out, which can drastically reduce the selection of available cars. Other lenders may require you to know the specific model you’re looking for, which narrows things down even further. One of the major benefits of financing through a dealership is that you can be preapproved and choose from hundreds of models, and you may even be able to search multiple lots in the dealership’s network.

Options for Less-Than-Perfect Credit

Most dealerships have a selection of special financing lenders that work with customers who have a subprime credit score. This can make it much easier for shoppers who are still working on their credit to secure a decent term at a decent rate.

Expert Guidance

When car shoppers visit our dealership near Overland Park, they can shop secure in the knowledge that our finance professionals will provide a personalized plan to get the absolute best deal.

If you’re on the hunt for a new ride, Molle Toyota is your one-stop shop for the best auto loan rates. We also offer rebates for college grads and military personnel, and if you have a trade-in, we make it easy to know your value with our Kelley Blue Book Instant Cash Offer.

We’re located right near Leawood at 601 W 103rd Street, Kansas City, MO 64114. Contact us online or give us a call at (816) 678-0593 to start your car shopping journey today!