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Should I finance through Bank of America or Toyota Financial?

I'm going to buy a Toyota Corolla, but I need to finance part of the sale price. Should I finance through Bank of America or Toyota Financial. Which one is the better option?

avatar
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
The best idea is to get quotes from both parties. Both Bank of America and Toyota Financial run finance specials and offer different rates for your particular credit score and situation.
It won’t hurt to get quotes from both options and then use the lower rate to bargain with the other lender.
Pro tip: Don’t hesitate to shop around with other lenders apart from the dealership and Bank of America. Just as you can save money by shopping around with
car insurance companies
, you can do the same with lenders.
MORE:
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