Where is The Best Place to Get a Car Loan?

financing car loan paperwork

When you’re purchasing a new car, you want to make sure you get the best deal possible. You may be asking yourself: Where is the best place to get a car loan? When you’re ready to buy your car, you can take out a loan from either the dealership or your bank, each offer their own incentives to shoppers. At South Oak Jeep Dodge Chrysler Ram, we’re here to help you find the best financing and loan options available to you, read our guide below to see which option is best for you.

Car Loan: Dealership

Dealerships are one of the best places to get your car loan because of all the options that are available to you. Most dealerships have their own financing programs, which means they can set the terms without consulting a bank or another financial entity.

  • Dealerships will help you determine if leasing or financing is right for you.
  • Dealerships work with many lenders around New Lenox, getting you the best rates possible.
  • You can apply easily! Filling out one form will give you multiple financing options.
  • Dealerships are able to offer financing incentives such as trade-in value, new car specials, and used car specials.
  • Your down payment may be negotiable when financing through the dealership. In addition, dealerships can afford to be more flexible when approving low-credit or no-credit car loans.

Car Loan: Bank

Your local bank in Frankfort may be the first place you think of when considering a loan for your car. When you choose your bank, you have these options:

  • Peace of mind. You know your bank, and they know you. Trust is already established.
  • Interest rates are often set.
  • You may have the option of a flexible payment schedule.

You will have a harder time getting a loan from your bank if your credit score is poor. You should also check with the dealership to see who their financing partners are, to make sure your bank and your dealership can work together to get you auto financing.

Find Out Your Financing Options With South Oak Jeep Dodge Chrysler Ram!

At South Oak Jeep Dodge Chrysler Ram, we want to get you a vehicle that fits your budget and will be able to take you to the best restaurants near Mokena. Contact us today to apply for financing and take a test drive in Matteson!

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