Automotive Financing Frequently Asked Questions

Kenny Kent Toyota Financing

As automotive dealerships continue to gain access to financing sources and expand their options, more and more buyers are choosing to finance their new or pre-owned cars through the dealership. Over 24 million auto financing transactions currently take place at dealerships each year and this number is expected to grow as dealerships develop more connections with lenders. Here at Kenny Kent Toyota, we offer exceptional, affordable finance options for our customers to take advantage of when purchasing a new car and we do our best to help them obtain a loan that fits their individual needs. If you're interested in financing your next car, feel free to use the form at right to ask a specific queastion or request more information about our services. But first, check out our list of frequently asked questions to acquire basic info about the Toyota financing process in Evansville.

What are the benefits of financing with a dealership?

Dealerships typically have more access to financing sources and lenders. By working with multiple banks/finance companies, we are able to offer competitive auto loans that may be hard to find anywhere else. Our associations also allow us to find loans for individuals regardless of their credit rating.

Will credit score affect my loan's interest rate?

Yes. Buyers with low credit scores are considered high risk and less likely to fulfill their financial obligations. Due to this, they will often receive a loan with a high interest rate compared to a buyer who has an excellent credit score. However, at our Toyota dealership in Evansville, our relationships with banks and finance companies across the nation give us the ability to offer competitive loans to Toyota buyers with good or bad credit.

Do short term loans offer lower interest rates than long-term loans?

This is usually true. Those who obtain two to three year loans are more likely to pay back the loan than people who receive five to six year loans. Individuals with short term loans are considered low risk and are likely to receive low interest rates, while those with long-term loans are looked at as high risk and will obtain higher rates.

Do most dealerships offer onsite financing?

Yes. About 16,000 dealerships have their own finance departments, including Kenny Kent Toyota. We offer incredible auto loans for you to take advantage of. Stop by and see if our Toyota financing options are right for you.

Ask A Question

/* DNA4535761 ddcdrewc */