After months of research, dealership visits and test drives, you’ve finally found the car of your dreams. Congratulations! If you’ve reached the big ol’ speedbump labelled financing and are considering hitting the brakes, worry not, because Mantello Suzuki Roxburgh Park is here to help you cruise right over.
In simple terms, car financing refers to how you fund your car. Buying a new car is a big commitment and financing often takes the fun out of car buying. But it doesn’t have to!
So, if you looked up ‘best car financing options’ and ended up here, you’re in safe hands. Let us break it down for you.
Dealership Financing vs Bank Loan
First things first, let us explain what these looming options mean; and make financing a less daunting topic.
Dealership Financing: This is when your dealership’s Business Manager works with their affiliated bank to arrange a car loan for you. In more appealing words, they do all the work for you! Accelerating car buying by putting it in fifth gear, some might say (Ha!).
Bank Loan: This one is a conventional approach for many. You work with your bank, arrange all the paperwork, and then apply for a loan directly. The lump-sum you receive is what will fund your car.
Pros of Financing With a Dealership
Now that you know the basics, let’s learn why dealership financing has an edge over bank loans.
- It’s convenient, flexible and tailored for YOU. You already have a credible relationship with your dealership, and they’re familiar with you and your dream car. All you need to do is inform them of what you can afford, and then put your financial stresses in the park. The Business Manager will navigate all specifics with the bank/lender and bring you the best option.
- No credit history is a terrain too rough. Is your bad credit history making you precarious? When you opt for dealership financing, you can be assured that your dealership will see your loan through till the end. No matter the complexity, the gears of car buying will run smooth like butter.
- They know all about cars, of course. Everyone at a dealership is a professional in all things cars. This means that their financing advice is informed by a broader knowledge of ongoing manufacturer offers across the entire range of your favourite brands. Now this is unmatched detail and consideration!
- Interest rates lower than your wildest imagination. That’s right, financing with a dealership brings you interest rates so competitive, that you’ll be driving home with your wallet still heavy! Because of the direct connection to the brand, dealerships can sometimes offer very low-interest rates. And then there’s the cashback offers, dealership finance specials, and the room to negotiate sale prices!
- Pay how much you want to, when you want to. Dealership financing accommodates lowering your regular payments with the option of a ‘balloon payment’. Basically, you pay a lump sum at the end of your loan term, and so you pay less as you go. In comparison, a bank loan often requires lump-sum payment upfront, as well as ongoing fees! For all you dedicated adventurers out there, this means that you can push your escapades to the highest standard, at a lesser out-of-pocket rate.
Mantello Suzuki Roxburgh Park is Here to Help
This is where we come in. If everything you just read has eased your stresses around financing, let us take the reins from here. Our Business Manager provides a range of options to suit YOU. Gone are the days of being held back by car financing!
Submit an online enquiry and learn more about our Suzuki finance solutions, or contact one of our finance experts today.