There are several things you should take into account when looking for a new or used car. But if you’re looking for financing, it’s crucial to consider where you go. Some people might automatically head to their bank, but there can be some real benefits to getting your car financing at your Ford dealer instead. Keep reading to learn more!
4 Benefits of Getting Car Financing at Your Ford Dealer
Competitive Rates
Dealerships generally have more competitive rates than banks or credit unions. They also offer various financing options, so you can find a plan that fits your budget and needs. This is because dealerships have relationships with multiple lenders and vehicle manufacturers, allowing them to look for the best rates on your behalf. It can save you money and time and help you get a lower monthly payment.
More Purchasing Options
Many car shoppers must realize that their dealer can offer more purchasing options than banks or financial institutions. For instance, if you have your eye on a particular model in high demand, your dealer can help you secure it. It is because dealers often have relationships with other dealerships and can trade vehicles with each other.
Also, if you’re working with a limited budget, financing through the dealer can help you get into a nicer car than you would be able to purchase outright. In addition, financing can also help you avoid having to come up with a large down payment all at once.
Quick Approvals
Many car buyers opt for dealer financing because it offers a quick and easy approval process. When you finance through a dealer, the dealership will work with several lenders to get you approved for a loan.
This process is often faster than going through a bank or credit union, and it can be a good option if you need to buy a car quickly. In addition, dealer financing can be a good option if you have no credit history or bad credit.
Extended Warranty Programs
Extended warranty programs can help protect your investment by covering repairs and maintenance after your original expired warranty. Often, these warranties are offered at a discount when you finance your vehicle through the dealership. However, comparing the warranty cost with the interest rate on your loan is essential to ensure you’re getting the most out of your money. If you’re planning to keep your car for a long time, an extended warranty can be a worthwhile investment.
When you’re looking for vehicle financing, it’s important to go to a dealership you trust. Contact us at Holt Motors Ford of Cokato today to discuss financing options. We have a financing department that can help you get the car loan or lease you need to drive home in your new Ford.
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