Trouble finding an auto loan for your new car? No worries! At your Hyundai dealer, you can explore a variety of car financing plans so you can purchase a new or used vehicle, even if you’re on a budget.
1. Convenience
Convenience is a key benefit of dealership financing. At the dealership, the finance experts do all the heavy lifting for you. After you submit your finance application, the finance experts will work hard to find you an auto loan with a competitive interest rate, usually within the same day. This can save you a lot of time and stress, especially if you aren’t sure how to find a competitive auto loan offer by yourself.
2. Speed
Whether you apply for your loan in person or by submitting an application for pre-approval at your dealership’s website, you can be approved for a loan very quickly at your dealership. Other lenders may take days or weeks to approve a loan. Your dealership, on the other hand, can give you a loan offer in a matter of minutes or hours.
3. Flexibility
At the dealership, you have much more flexibility when it comes to the terms of your auto loan. From calculating your monthly payment to choosing how long you want your auto loan term to last, the dealership works with you to build a finance plan ideal for your financial circumstances.
Can You Apply for Financing With Bad Credit?
Another perk of dealership financing is that you can apply for an auto loan even if you have bad credit. Many drivers who aren’t approved for auto loans from lenders such as banks and credit unions can find loan approval at the dealership. This is because the dealership partners with a captive lender, or the financial arm of the vehicle manufacturer.
Since the captive lender isn’t as strict about credit scores, even people with poor credit can get a loan. The ability to get a car loan even with bad credit is crucial. In fact, some people use a dealership auto loan to rebuild their credit.
Why Your Credit Score Matters
Your credit score is a snapshot of your creditworthiness and is a major part of determining the interest rate on your auto loan. Drivers who have good, fair, or excellent credit scores typically enjoy a much lower interest rate, when purchasing a used vehicle. Drivers who have poor or bad credit scores, on the other hand, might have higher interest rates and may pay more money over the course of their loan.
Financing your car at your local dealership is fast, flexible, and convenient. Contact the experts at Oxendale Hyundai to talk about your finance options today.
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