Bank or Dealership: What’s the Best Place to Get Auto Financing?

November 19th, 2018 by

Financing paperwork

Everyone hopes to get the best deal possible when purchasing a new vehicle. Which leaves those who are car loan shopping pondering one question: “Where is the best place to get a car loan?” Today we will dive into that topic and explore what your options are when looking for a car loan around Aurora.

Car Loan Shopping

If you are wondering where to get a car loan, your two main options when car loan shopping loan include:

  • The dealership where you’re purchasing your vehicle
  • Your bank

Both of these options offer different benefits to shoppers.

Figuring Finances

Car Loans From a Dealership

One of the best places to get a car loan is the dealership where you purchase your vehicle.

  • Dealers can help you determine if leasing vs. buying is right for you.
  • Dealerships work with a variety of lenders to get you the best rates possible.
  • It is easy to apply. You only need to fill out one form to get multiple options.
  • Multiple lenders are competing for your business, which can lead to a better rate.
  • Some dealerships offer options for those who have issues with credit.
  • The dealership may offer financing incentives.
  • You may be able to negotiate your down payment when financing with the dealership.
Money and car key

Car Loans From Your Bank

When deciding on where to get a car loan, you might think of trying your local bank around Romeoville first. Speaking with your dealership before applying at your bank is actually a good idea because each dealership has different financing partners. If you have less-than-perfect credit, you will have a harder time getting a loan with a bank. Despite this, there are some benefits, including:

  • You have a pre-existing relationship with your bank
  • There are often set interest rates
  • You may be able to set a flexible payment schedule

Discuss Your Financing Options at Chevrolet of Naperville

If you have additional questions about your financing options, including how to qualify for a car loan, feel free to contact Chevrolet of Naperville. The experts in our finance center near Bolingbrook will be happy to address your concerns and walk you through the financing process!

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