Hilltop Toyota Vehicle Financing: Better than Bank Rates

By: Hilltop Toyota   |   26 Feb 2018
Person looking at financing info on ipad at a table

Car dealerships often finance vehicles in conjunction with banks, so what’s the difference between financing a vehicle through your dealership and going directly to a bank? We break down some common questions that we receive when working with our valued Salmon Arm customers to obtain vehicle loans on new Toyotas and used vehicles. We’re here to help!

Dealership vehicle financing

There are many different reasons why financing your car with a dealership can be beneficial to you. For starters, dealerships like ours are known for getting approvals quickly and easily. When you deal with a bank, you can end up waiting days or even weeks to see if your loan was approved. Beyond that, your financing rates are often lower when working with a dealership. We’re always running different promotions from 0% financing and upward, and these rates are typically lower than what you would get at a bank.

Whether you have good, bad, or no credit, our financing experts are able to help find you a loan that fits your budget and lifestyle. As finance experts, our premier dealership team works exclusively with vehicle loans. We’re experts at determining which lenders and rates will work the best for your vehicle financing needs.

We’re able to work with not just banks here in Salmon Arm, but other national institutions from across British Columbia and Canada. Because we aren’t tied to a single lender, we’re able to obtain the best rate from multiple sources. This allows us to truly find the best rate for you. We’ll help you find payments that fit your lifestyle, have low interest, and come with a great car.

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Happy guy with new car

Bank vehicle financing

At a bank, your finance history is more heavily scrutinized than it is at a dealership. This is why people are more likely to be turned down at a bank. When working with a dealership, the parts of your report that are analyzed are different and a little more forgiving than at a bank. Because there’s such a large difference between a mortgage and a vehicle loan, knowing how to manage the latter is our biggest priority.

There’s only one best rate with a bank. Most people do their banking at a single institution. When a bank shows you their best rate, it’s just that: their best rate. Unlike dealerships, most banks will only have one best rate to show you. As mentioned above, a dealership will be able to get the best rate from a selection of lenders. This will ensure that you’ve found the best rate, and even better, we do the searching for you!

What matters most when financing a vehicle?

When financing, the biggest determinant of the rates and payments that you will be approved for is your credit score. From there, we’re able to suggest vehicles, payments, and rates based on your results. Some of our quality financial services include:

CheckCompetitive rates

CheckEasy-to-read contracts that fully disclose all of the details you need to know

CheckFlexible terms of up to 72 months

CheckConsumer-friendly, simple interest financing (no banker talk)

CheckFull or partial early repayments at any time without penalty

CheckConvenient, automatic monthly and twice-monthly payments are available through direct payment plans

With Hilltop, you’re also getting the Toyota Leasing Advantage. That means lower rates, lower taxes, more options, features, and flexibility. Learn more about the Toyota Leasing Advantage here, and save yourself the hassle of leasing anywhere else.

Whatever your question, we’re here to help. Our experience and professional Salmon Arm financing team can answer any of your questions. We also provide leasing options, if you like to trade-in and up often. Apply online today.

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