Ready to see how much lower Bakewell Financial rates are compared to the rest? Just answer a few questions about yourself and you'll see why so many people are choosing Bakewell Financial for their auto finance needs!

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Types of Financing

Like any other type of financing, there are various kinds available to consumers and it is important that you know all of your options before making a decision.

Can't I just get a loan from my dealership?

While this is true, you may not be able to get the best possible rate by going directly through your dealership. This is because they may not shop around for a rate and may go with a preferred lender. At times, dealers may offer favorable rates with certain models of vehicles. However, you may end up paying more for the car due to the improved financing that is available and their unwillingness to negotiate on the price.

With all of this to take into consideration, it is best to shop around for financing rates. Companies such as Bakewell Financial have the ability to send your application out to hundreds of lenders at once. By spreading your application out, Bakewell Financial can guarantee that you will be offered a favorable rate when the results return.

What exactly is a fixed auto loan?

A fixed auto loan is a form of financing that has a fixed monthly payment. These are usually the easiest types of auto financing to receive because you know exactly how much money is due each and every month. Having this knowledge makes adjusting your finances more stress free. These loans usually have a time period of one to five years and can even be extended longer if necessary.

What exactly is a variable auto loan?

Variable rated auto financing is when you take a loan from a lender without of fixed monthly payment. By choosing this method you are taking on a certain amount of risk because the interest rate can change. The interest rate is usually determined by the prime lending rate which hovers around 4%. A benefit to this method is that you will have a lower current interest rate over a fixed rate loan.

So now you know about the various loans available to you, let Bakewell Financial help you find the right one for you!