Best Place to Get a Car Loan: Bank or Dealership?

woman looks at finance documents

Purchasing a new vehicle can bring both excitement and anxiety as most drivers seek to finance their car with a car loan through a bank or a dealership. While either option can work for you, it is recommended that Naperville drivers do a bit of car loan shopping to find the best deal. Financing at the dealer can save time, energy, and money, but what’s the best place to finance a car? You can find better deals and less stress when you finance at the dealership. Learn more about where to get a car loan with our finance department at McGrath Acura of Westmont today!

What’s the Difference Between Financing Through Dealership vs. Bank?

If you are like most Elmhurst drivers, you may be wondering the best place to finance a car. Applying for a loan through a bank or dealership may be similar logistically, but you can often find a better and more convenient offer when you work with the dealer.

Choosing to finance through the dealership vs. bank allows you to utilize their expertise as they find you the best possible deal. The dealership can serve as the middleman to help with your car loan shopping and will ultimately be the best place to get auto financing.

When deciding whether to get a loan through a bank or dealership you may be asking, “Who has better rates?” If you finance with the bank, you will get an offer at the interest rate that they determine. Financing through the dealership vs. bank is a much more competitive process. The dealership essentially negotiates with multiple lenders on your behalf to acquire the best deal. In many cases, the best place to get a car loan is the same place where you are buying your car!

dealer shows man papers as he sits in car

 See Why McGrath Acura of Westmont is the Best Place to Finance a Car

Now that you know more about financing through a dealership vs, bank, if you are still wondering where to get a car loan, apply for financing with McGrath Acura of Westmont today! Our financing team will work hard to make sure our dealership is the best place to get auto financing for you! If you are ready to find the best place to finance a car, contact us today. We will find you a great rate so you can cruise home to Downers Grove in your dream car!

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