When you decide to buy a new car here at Heritage Subaru Catonsville, there's a chance you'll end up financing it. This is when you pay part of the car's price upfront and get a loan to cover the rest.
Where is that loan coming from? Our Subaru financing department works with a number of lenders.
OEM Captive Lender
An OEM captive lender is one that's related to the company that made your vehicle. If you're buying a new Subaru car, you're getting a loan from Subaru Motors Finance. Generally, these lenders work with drivers who have pretty good credit histories and scores.
Direct Lenders
Direct lenders are often names that you're familiar with. They are big banks like Wells Fargo, Capital One, and Bank of America. Some drivers like these lenders because they know the institutions and know where the money is coming from.
You can even get a loan from the business you do most of your banking with already!
Credit Unions
Our network of lenders also includes credit unions. These institutions are much like banks, but they are owned collectively by the people who use them. In recent years, some people have decided to move their business over to credit unions instead of using the big banks.
These lenders include John Hopkins Federal Credit Union, Penfed, and others. If you have any more questions about auto loans and specific lenders, we would be happy to answer them!
Apply for Subaru Finance Today
If you're interested in financing a reliable new vehicle like the 2021 Subaru Outback or the 2021 Subaru Forester, visit our Subaru dealership near Baltimore today. We'll make it easy to find the car and loan that fit nicely into your monthly budget!
