Car loans in KS are available from banks, credit unions, online financial institutions and auto dealerships. Each choice has good and bad aspects, so your decision on where to get a loan should be based on your company's financial status and car buying needs. Banks and credit unions usually have loan plans with lower rates, but they are not negotiable.

Financial institutions generally have higher rates, but are more likely to help clients who have bad credit. Car dealerships commonly work with businesses that do not have much credit, and they provide the benefit of managing the entire vehicle purchasing process in one location. They tend to have higher rates than other sources of vehicle financing in Kansas.

Your businesses' credit rating, annual profit line and how much of a down payment you can afford are all factors when choosing the best way to receive KS auto financing. There are a few things you should do prior to requesting a loan:

1. Determine your monthly budget for paying off your car loan in Kansas.

2. Decide if your Kansas automotive financing will go toward a new or used automobile.

3. Choose the features you want for your vehicle.

Action Steps
The best contacts and resources to help you get it done

Receive automotive financing in Kansas from banks or credit unions

Companies with positive credit ratings can benefit from using a bank or credit union to receive car financing in Kansas. Borrowers may earn a lower rate when they show that they are able to pay a particular invoice amount on a monthly basis, but this payment is usually a non-negotiable rate. By obtaining Kansas auto financing through a bank you will not have to endure an auto dealer's qualification procedures or work out a loan plan with the their financial personnel.

I recommend: Talk to the people at the Kansas Super Chief Credit Union or Central Kansas Credit Union. The Bank of Kansas City provides auto and fleet financing.

Rely on an auto dealership for car loans in Kansas

When you have your vehicle financing in Kansas handled at the auto lot where you purchase any company vehicle, you will get the added bonus of being able to finalize the entire process on the spot. Most car dealerships are willing to work with businesses that have low credit scores even when they are making their first major purchase. In exchange for this convenience, you will likely receive a high interest rate that causes you to pay more money over time.

I recommend: Work with auto dealers such as Davis-Moore, Pfaff Chevy or Briggs Automotive Group.

Peruse online financial institutions for Kansas car loans

Online finance companies generally have higher rates than banks or auto dealers, but they are more apt to work with clients that have low credit scores, or no existing lines of credit. This allows first-time buyers and newly created businesses an opportunity to receive a loan to buy a car. Online lenders also feature the benefit of working out a financial agreement from your work place.

I recommend: Deal with online financial institutions like the Tyco Federal Credit Union or FMFCU. Commercial Fleet Financing offers fleet leasing services for businesses.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Find how much the car you want is really worth and negotiate with the dealer to obtain the best price possible.
• •  Be certain the Kansas auto financing policy you choose has a monthly rate your company can afford.
• •  Get the details of the Kansas vehicle financing plan you prefer in writing before signing any documents.
• •  Put down as much money as you can to get the lowest possible monthly payments.
• •  Make payments on your Kansas car loan that are above the minimum amount. This will reduce your overall interest charges.