Oct 27, 2023

If you’re purchasing a new car, truck, or SUV, you can pay for it in one of two ways. You can pay cash for it, or you can finance it. Even if you’ve shied away from borrowing money in the past, there are many great advantages to arranging car financing through your local Toyota dealer.

A couple buying a car at a dealership.

1. You Can Get Behind the Wheel Right Away

Arranging financing through your dealership allows you to drive off in a new car right away. The only thing standing between you and the new set of wheels you just picked out is the amount of time it takes to complete the financing paperwork at the dealership. Once you’ve completed a credit application, we’ll submit it to lenders in our network and find the best offer for you. The whole process can be completed in an hour or less.

Financing is a great option if you urgently need a vehicle. It’s also a good choice for those who have only saved part of what they need to buy a new vehicle but need to go ahead and complete the purchase.

2. You’re Already Acquainted With the Dealership

By the time you start the financing process, you’ll already have gotten to know the professionals at the dealership you’re buying from. Arranging financing onsite allows you to keep working with the same team without bringing in a third party.

3. You’ll Be Able To Arrange More Personalized Financing

One of the big advantages associated with working with a dealer is that you’re more likely to get a financing package that’s custom-tailored to your needs. Dealers, for example, are generally able to award financing with a longer term, meaning the payments are spread over a longer period. Financing with a longer term usually results in a lower monthly payment, which many consumers like.

Any financing you arrange through the dealer will also take into account the credit you may be getting for a vehicle trade-in.

4. You’ll Keep Extra Cash on Hand

Digging deep into your savings account so that you can pay cash for your next vehicle may leave you with less of a financial cushion. It’s always a good idea to have cash on hand in case an emergency crops up. Financing your vehicle means you’ll pay for it over time, which allows you to keep funds on hand so that you’re ready for any curveballs life throws you.

There are many different reasons why financing your next vehicle through the dealership is a smart way to go. The next time you’re in the market for a new car or truck, call Coughlin Toyota! Our Credit Application form is a quick and easy way to get Pre-Approved for a long-lasting Toyota Corolla.