What's the Best Place to Get Auto Financing?

When you start car loan shopping, it’s easy to get overwhelmed. What’s the best place to get auto financing? Some St Louis drivers go to a bank, while others go to a dealership. Determining where to get a car loan is the first step toward securing your new vehicle, so take a look at our comparison below to guide you through the process.

Where to Get a Car Loan: Dealerships

A dealership is the best place to get auto financing when it comes to convenience, flexibility, and speed. Dealerships put everything that you need in one place, so if you want to trade in your car for a new model, there’s no need to make separate trips around Webster. Why should you consider a dealership?

• Options: Dealerships work with a wide variety of lenders, so you can get the best rates possible.
• Convenience: Fill out one application form, and you’ll receive offers from many different lenders.
• Flexibility: If your credit is less than perfect, a good finance center will work with you to get great rates regardless of your score.
• Incentives: Many dealerships offer incentives and offers to sweeten your deal even more!

Where to Get a Car Loan: Banks

A bank can be a good place to go car loan shopping as well, but the process is generally more rigid. Here are some reasons that drivers go to a bank for auto loans:

Other Car Loan Shopping Options

What else should you know when car loan shopping around St. Louis? Here are some more finance tips to help you determine where to get your next loan:

• Bank Financing: When you finance with a bank, the bank finds lenders externally. That means they do not provide the financing themselves, acting as a middleman.
• In House Financing: “Buy Here Pay Here” or in-house financing is offered by dealerships directly, so there is no need to get approval from other lenders. While this usually carries higher interest rates, it’s a great option for those with no credit or poor credit.
• Credit Union Financing: Similar to a bank, credit unions also offer financing. If you have a preexisting relationship with a credit union, you can apply for an auto loan there, and you may save money.

Get Expert Financing Advice at Suntrup Volkswagen

We’ve gone through the basics to help you find the best place to get auto financing. If you’re ready to get started, contact us at Suntrup Volkswagen or visit our dealership in St. Louis. Our finance team can walk you through your options, so stop by at your convenience and apply for financing today.