There are four common options Land Rover buyers have available when it comes to securing auto financing.
1) Let the dealership do the work and shop the loan to its partner banks. Land Rover retailers maintain relationships with a number of lending institutions. The dealer can quickly submit your loan application to these lenders and show you competing offers from several sources. This is the route most buyers taken when financing a new vehicle. If you choose to do the same, you should do some preliminary online research to get an idea on rates.
2) Take advantage of Land Rover financing deals. Land Rover maintains a relationship with JPMorgan Chase Bank, N.A. and its affiliates to provide auto financing through the Land Rover Financial Group program. The Land Rover Financial Group offers financing programs for new and pre-owned Land Rovers via your local Land Rover retailer. The program also offers online account management. Typically, you must exhibit excellent credit to qualify for these types of financing deals.
3) Shop online for good rate and lock it in before you visit the retailer. There are a number of reputable online auto loan providers who are able to serve the needs of in-market car buyers. Working online allows you to shop for the best rate on your own time without being in a rush or pressured into a quick decision. The downside is that your personal financial information will end up in the hands of the various lenders you contact.
4) Work with your current bank or credit union to secure financing. Your current bank or credit union may be able to offer competitive rates on auto financing. The primary benefit of working with your bank is that your personal information is not “shopped around” to various lenders. You may also be able to work with people you know at a local branch. The downside is that you probably won’t have much flexibility on rates. If you want to work with your bank, whatever it offers you is probably what you will have to take.
All four routes can lead to successful financing with good terms. Furthermore, if you choose one or the other and find that you could get a better rate or terms through an alternate source, there is usually nothing stopping you from refinancing. We’ve seen buyers refinance their vehicle purchase before the first payment was even due.
Additionally, be sure to research available Land Rover incentives and rebates.