5 Reasons to Get Car Financing Through Your Hyundai Dealer

So you’ve been shopping around for a new vehicle, and you’ve finally settled on one. The only thing left to do is arrange financing. Sure, you could head to your bank to get preapproved for an auto loan, but did you know you can also arrange car financing through your Hyundai dealer? There are several reasons why financing through your dealer may be the smart way to go.

1. You Can Save Time

When you get an auto loan through a bank or a credit union, you’ll first need to go to that financial institution and get pre-approved. This process needs to happen before you begin shopping for a new vehicle because the lender will generally give you a letter of commitment that you can take with you to the dealership. The pre-approval will also give you an idea of how much you can expect to pay in interest on the loan.

One reason why arranging financing through a dealer is so popular is that it saves you that step. When you finance at the dealership, the dealer will shop your credit application around to various lenders and share the loan offers with you. This means you can conceivably walk onto a dealership, pick out a new vehicle, and arrange financing on the spot, all within a few hours. Dealer financing is one-stop shopping at its finest.

2. You Might Qualify for Special Promotional Offers

Dealerships sometimes offer promotional financing, particularly to buyers who are considering new or available models. Some of these promotional financing offers involve interest rates as low as zero percent, which can bring down the overall cost of the auto loan significantly. Customers generally need to have good credit scores and meet other qualifying criteria to be eligible for these offers. But if you qualify for such an offer, it can be an excellent deal.

3. You Don’t Have an Established Banking Relationship

Some customers find that dealer financing is appealing because they don’t have an established relationship with a financial institution. Dealers can work with everyone on financing, regardless of whether that individual is an existing customer.

4. You Don’t Have a Good or Extensive Credit History

Some dealerships specialize in arranging financing packages for customers with poor or little credit. If you have poor credit, you’ll likely pay higher interest on any auto loan you take out, regardless of whether it’s from a traditional bank or arranged through the dealer.

5. You Want Your Choice of Financing Options

One of the big advantages of financing through a dealership is that you’ll likely receive multiple financing options to consider and select from. When you head to a bank for pre-approval of an auto loan, you’ll receive just one offer from that individual financial institution.

Arranging financing through your local dealership is easy, convenient, and you may even find that you’re eligible for a cost-saving promotional offer. What are you waiting for? Head over to Crain Hyundai of Fayetteville and pick out your next vehicle today!

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