Vehicle financing in Missouri is available from banks, credit unions, online financial institutions and auto dealerships. Each option has positive and negative features so the decision on where to obtain your loan should be based on your company's financial status and vehicle purchasing needs. Banks and credit unions offer business loans with low rates, but they are not negotiable.

Financial institutions often have higher rates, but they are more willing to deal with companies that have limited existing credit lines and a small annual profit. Car dealerships frequently work with companies that have bad or no credit and they offer the benefit of conducting the entire vehicle purchasing process in one location. They often have higher rates than other sources of auto financing in MO.

Your businesses' credit rating, profit margin and down payment amount are all factors when deciding where to obtain car financing in Missouri. Before you request a loan, there are a few things should do:

1. Determine how much you can pay per month for a car loan in Missouri.

2. Decide if your Missouri automotive financing will be used on a new or previously owned vehicle.

3. Choose which features are essential for the automobile.

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

Obtain car loans in Missouri from banks or credit unions

Businesses that have good credit can benefit from receiving their MO auto financing from a bank or credit union. Borrowers will be given a lower rate if they are able to prove they can pay a specific amount each month, but this figure is usually not negotiable. By acquiring car loans in MO from a credit union or bank, you will reduce the amount of time you must spend at a car lot when purchasing a company automobile. Your business will already have funding for the vehicles you need, so there will be no need to deal with the financial consultants at the auto dealership.

I recommend: Get financing from the Missouri Credit Union or The Bank of Missouri. Find the funds you need for a single vehicle or a fleet of cars from Commerce Bank.

Receive Missouri car loans from automobile dealerships

Businesses that obtain their automotive financing in Missouri from an automotive dealership are able to complete the entire vehicle purchasing process in one excursion. Most dealerships will work with a company that has a bad credit history or that has never made a major purchase. In return for this benefit, car buyers are likely to end up with a high interest rate that forces them to pay more over time.

I recommend: Frank Fletcher Toyota, Roberts Auto Plaza and Jim Butler Auto Plaza all provide Missouri auto financing.

Work with an online financial institution to get a Missouri car loan

Online finance companies commonly have higher rates than banks or car dealerships, but they are more capable of dealing with newer businesses that do not have much established credit or a strong profit margin. This permits first-time buyers to receive financing even if they have been turned down elsewhere. Online lenders also offer the advantage of allowing clients to complete the entire credit process from their office.

I recommend: Deal with online financial institutions like Jeffco Credit Union or Autoloan. PHH Arval offers fleet leasing services for businesses.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Investigate the actual value of the automobile you are interested in and negotiate with the sales person for the best possible deal.
• •  Be sure the Missouri auto financing you are looking into has a monthly rate you can afford.
• •  Get the details for any Missouri vehicle financing plan in writing before you sign any documents.
• •  Make the largest down payment possible to lower your monthly invoice.
• •  Pay more than the minimum amount from your Missouri car financing bill to reduce your overall interest charges.