Most car buyers opt to take out a loan when buying a new car. This is a great way to manage payments while staying within budget. Applying for a Toyota loan is simpler and quicker than you might think. In fact, you can start right now on your laptop or mobile device!
Applying for a Loan
To begin, you can visit our dealership and speak directly to one of our dealers from our finance department. Alternatively, you can use our online finance application. This way, we already have your information when you visit our dealership, and it will save you time once you’re in our finance office. Most loan applications can be processed on the same day.
Our Loan Options
Heritage Toyota Catonsville is part of the MileOne Autogroup, which is partnered with various lending institutions and credit unions. This ensures you find the best lending options – both based on your existing credit score and what’s best for your personal budgeting needs.
Some of our direct lenders include established and trusted institutions like Bank of America, Capital One, Wells Fargo, and more. Some of our partnered credit unions include ChoiceOne, CU Direct, and Johns Hopkins Federal Credit Union.
Optimizing Your Loan Offer
Before going through our online application process, we recommend checking your credit score through an institution like TransUnion or Equifax. Typically, you need a minimum score of 610 to qualify for most loans. If it’s below 640, spend time to get it up, and you can follow these guidelines:
- Resolve all revolving credit balances
- Increase your existing credit limit or apply for a new card
- Carefully examine your credit report and actively scan for errors. Request to have negative entries removed
Whether you’re interested in the Toyota Corolla or a light-duty pickup truck like the Toyota Tacoma, visit our dealership’s finance department for speedy assistance.
