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

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If you’re thinking of switching up your vehicle in the Round Rock area, you are probably wondering where is the best place to get a car loan. All drivers want to get the best deal when they are car shopping, so the team at Nyle Maxwell Chrysler Dodge Jeep Ram understands perfectly! Let our finance team break down the differences between going to a bank and a dealership for financing below before you decide where you should go to get a car loan. 

Where to Get a Car Loan?

While there are several places you can go for auto financing, many Cedar Park drivers go to either the dealership where they’re buying their car from or a local lending institution, such as a bank. But which is the best place to get auto financing? Keep on reading to find out below!

Auto Financing in a Dealership

A lot of drivers find their local dealership to be the best place to get auto financing because of the long list of benefits they can enjoy. This includes: 

  • Finance experts at dealerships can walk you through leasing vs. buying your next vehicle and help you decide which one is more suitable for you. 
  • When you go to a dealership, they work with many lenders to get the best rates possible near Georgetown. Keep in mind, these lenders are competing to get your business, so there is bound to be a rate that you won’t be able to resist. 
  • Apply for financing online in seconds and you can view and compare several offers you get at once! 
  • Dealerships, such as Nyle Maxwell Chrysler Dodge Jeep Ram, will help you no matter what your credit looks like. We want to make car-owning as accessible as possible. 
  • You can even enjoy financing incentives at dealerships. 
  • When getting a loan from a dealership, you may also be able to negotiate your down payment.

Auto Financing in a Bank

While you might think of banks as the first place to get a loan near Georgetown, it may not be the best place to get a car loan. It is often wise to talk to a dealership before talking to a bank as each dealership works with different financing partners and will be able to get a lower rate for you. Also, if you don’t have a stellar credit score, you will either struggle with getting a loan from a bank or getting a good rate. When you do finance with your bank, you can enjoy these benefits:

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

Get Auto Financing at Nyle Maxwell Chrysler Dodge Jeep Ram

So where is the best place to get auto financing? This will really depend on your financial situation. In general, you will be able to enjoy many benefits at a dealership. See the full list of benefits you can enjoy when you use our in-house financing at Nyle Maxwell Chrysler Dodge Jeep Ram! If you have any questions, feel free to contact us today.

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