Buying or leasing a car definitely involves the payment factor and you can either make cash payment with your own money or go for a loan from the bank or any other financial institution. However, taking a loan all by yourself can be a tiresome job as you have to coordinate with the dealer and the bank at the same time. On the other hand, if you go for car financing through the dealer then all your worries are taken care of as the dealer takes it on himself to arrange for the loan and coordinate with the bank while saving you the task of running from bank to bank.
The dealer takes care of all the bank formalities and the clients are connected to the dealer at one point and they don’t have to visit the bank for loan formalities. Instead, the dealer executives along with the customer are responsible for both collections of customer documents and their submission to the bank for processing.
Upon receipt of the proposal, normally banks scrutinize it, followed by a credit check, underwriting and sanctioning of the proposal. The loan documentation is done either at the bank or at the dealership based on the preference of the customer. The whole process is very comfortable for customers who don’t have to visit the banks time and again.
So here are some benefits of car financing from the dealership
Buying a vehicle through financing from the dealership has its own benefits such as:
- You get the car keys well within the stipulated time
Arranging for the finances all by yourself can be a tiring task as you have to do the running around all by yourself and there’s no one to support you. However, getting the financing done through your dealer can speed up the process of car purchasing and help you save substantially.
- In-house car financing has its own perks
This includes extended warranties and highly flexible interest rates. Going through the banks don’t guarantee these extra benefits.
- Financing through a car dealership is easier to qualify
If you plan to get the financing done through the banks then qualifying for a loan might not be easier as there will be inspection and scrutiny of your identity and credit score before you qualify for the loan. With a poor credit score, it’s probably tough for you to qualify with the banks.
With dealerships like Location Paramount, car financing is a very flexible and accommodating process.