Financing Learn More Why finance through the dealer? Dealer-arranged financing works the same as bank financing – the only difference is the dealer is doing the shopping around for you. Overview benefits Testimonials Benefits Benefits of Financing at the Dealership Financing a new vehicle can open the door to incentive programs such as cash back, lower interest rates, and trade assistance cash if you use a dealership’s subsidiary lender. These incentives are based on pre-qualifications, so well qualified buyers can see real savings on their vehicle purchase. Other benefits of financing at the dealership include: Promotional Interest Rates Many dealerships offer promotional rates on specific models or for special events which are not available without the dealership brokering the deal. Build Credit Solid refusals are a rare thing. A financial services manager will work with you to build back your credit. Access to a Competitive Pricing Market The dealership’s Financial Services Manager will act as your advocate as they shop multiple finance sources to find you the best terms and conditions. Convenience One stop shopping – test drive a car, have your trade evaluated (if you have one), fill out the paperwork, get the loan approved, and drive off with your new car. A Wider Range of Loan Terms Dealerships have access to a wider range of loan terms, which are not offered on direct-to-consumer loans, giving you greater flexibility to make your payments fit your budget. Tax Advantage Trading-in your vehicle can save you some money on sales tax. In most areas, you can receive a sales tax credit on the price difference between your new vehicle and your trade in. Incentives on New Vehicle Financing Financing a new vehicle can open the door to incentive programs such as cash back, lower interest rates, and trade assistance cash if you use their subsidiary lender. These incentives are based on pre-qualifications, so well qualified buyers can see real savings on their vehicle purchase. Using a line of credit to pay for your new vehicle is not recommended. Floating Interest Rate Lines of credit use floating interest rates, which may rise if the prime rate rises. Withdrawals from Any Bank Account The bank has the right to offset and withdraw money from any of your accounts to pay for your line of credit. Lines of Credit Use Your Home as Collateral Secured lines of credit use your home as collateral. Default of payment for any reason allows the bank to take your home. Total Balance Required In Case of Death or Bankruptcy The bank may require the total balance of your line of credit to be paid in full if you die, become insolvent or bankrupt. Full Payment if Bank Sees Risk – Demand Note If the bank anticipates any increase in risk to the security, they can demand full payment of the balance of your line of credit.