Toyota Finance Center in St. Augustine, FL

Why Finance at a Dealership?

1. It simplifies the whole car buying process.
2. Auto loan financing from dealerships tends to be approved quickly.
3. You may be able to get a loan and drive your new car home on the same day.
4. Many dealers offer discounted interest rate options for certain vehicles.
5. We’re willing to work with you to get the best interest rate possible.
6. Dealers may have access to multiple banks, allowing them to shop around for low rates.

Most auto loans are not longer than 60 months (5 years), but there are some long-term loans offered for 72 and 84 months. However, there are a few things to be aware of with these long-term loans:

• PRO: Lower monthly payments for more immediate savings
• CON: Interest rates tend to increase for loans over 60 months
• CON: It’s hard to predict what your needs will be in 6 or 7 years
• CON: Vehicles get more expensive to repair over time

If you are in Palatka looking for an alternative to the higher monthly payments of 60-month loans, there a few options to consider, like a Toyota lease, or making a large down payment on a long-term loan.