Financing with a Bank or Dealership: What's The Difference?

Tiny car with coins and finance paperwork

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

People want to get the best deal possible when they bring a new vehicle home to Sacramento. What is the best place to get a car loan? We suggest you compare your options when car loan shopping, because there are a lot of places to find a car loan near Natomas. Elk Grove Hyundai is about to tell you all about it, so sit tight and let our finance team guide you!

Car Loan Shopping

If you’re undecided on the best place to get auto financing, there are two main options when you’re looking for a loan:

  • The dealership where you’re getting your vehicle from
  • A bank or credit union around town or through an electronic financing source

Each of these options give different benefits, and we’re about to go into detail.

Car Loans From a Dealership

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

  • Dealerships help you determine if leasing or buying is the right choice.
  • Dealerships work with many lenders to get you a superior rate.
  • It’s easy to apply, with just one form for multiple options.
  • Multiple lenders are competing for your business, which makes it easy to get a great rate.
  • Some dealerships have bad or no credit financing options.
  • The dealership might offer finance incentives.
  • You might be able to negotiate your down payment with the dealership.

Car Loans from Your Bank

Natomas drivers might also want to have a chat with their local bank. Speaking with the dealership before the bank is a good idea because each dealership has different financing partners. If your credit isn’t the best, you might have a more difficult time getting a loan from a bank. Despite this, there are several 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 Elk Grove Hyundai

If you’ve got questions about your financing options, you’ll want to discuss them with the team at Elk Grove Hyundai. Like we said, we can help you compare rates from multiple lenders so you come out ahead in the car buying game. Apply for financing today or just contact us.

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