Portland is home to thousands of miles of bike lanes and trails, a high-quality public transit system, and a pedestrian-friendly downtown. It is no wonder that many people, when they think of Portland, don’t think about the 480,000 automobiles in the Portland metropolitan area. With nearly one car per person in Portland, automobiles are a way of life – and auto loans are an important component to securing a car of your very own.
Auto Loans from Portland Car Dealerships
Complete Auto Loans conducted a brief survey of more than 1,000 car dealerships in the Portland area and found that the vast majority (well over 80%) offered some form of financing for car buyers. As the margins on automotive sales get slimmer, dealerships increasingly make their money with financing and loan options, plying their customers with various offers to get them through the door (and to hide the cost of their cars.) Complete Auto Loans warns its customers to stay away from the financing departments of most car dealerships, as they are motivated by profit and will often tack on extra fees and fines to inflate the cost of the car you purchased. With few exceptions, car dealership financing will have a higher interest rate and less forgiving payment terms than any other method of car buying.
Auto Loans from Portland Banks
After the car dealership, the next place most people go when they are shopping for loans is their neighborhood bank. If you have a favorite bank, you already understand why it might be convenient to have all of your financial instruments under a single company. Using the bank for your auto loan gives you a physical storefront that you can go into, and it offers the security of the bank’s reputation. On the other hand, most banks do not specialize in auto loans, so they have trouble beating the low interest rates of the third type of lender.
Portland Auto Loans from Complete Auto Loans
Online lenders have a lot of advantages over their counterparts in Portland. The internet is a vast marketplace, and people from all over the world use online lenders to create a huge demographic pool for lenders to tap into. This means that lender risk is spread across more people (and different types of people) so they are able to offer lower rates than brick and mortar stores. Additionally, online lenders have virtually no expenses, so they can afford to have razor thin margins while passing the savings onto their customers. Complete Auto Loans specializes in Portland and Seattle area auto loans, so they understand the unique culture and needs of the Pacific Northwest. Owned and operated by a native, Complete Auto Loans provides the best possible experience for people in Portland and throughout the region.