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

Car shoppers from Louisville to Longmont are always interested in getting the best deal possible on a new car, truck, or SUV. But where is the best place to get a car loan? Your two basic car loan options are either the bank or one of the Boulder car dealerships. Find out which will best suit your needs in this guide from the finance team at Fisher Honda.

Car Loan Shopping

When shopping for the best available car loan, you’ll have two options to choose from:

  • The Boulder car dealership where you’re purchasing your vehicle
  • Your bank

While each of these options offer their own different benefits, determining which is the best choice for you will depend upon a number of factors. Let’s take a closer look at bank financing vs. car dealership financing.

Car Loans From a Dealership

One of the best and most convenient places to get a car loan is at a local Boulder car dealership like Fisher Honda. In-house dealership financing benefits include:

  • Dealers help you decide whether buying or leasing best suits your budget.
  • Since Boulder car dealerships work with a variety of lenders, it’s easier for you to get the best deal, as they essentially do the car loan shopping for you.
  • You can apply for financing online and get pre-approved from the comfort of your home or office.
  • Dealerships are more likely to approve a bad credit or no credit loan.
  • Most dealerships offer auto finance incentives.
  • You may have a better opportunity to negotiate financing terms and rates with a car dealer.

Car Loans From Your Bank

Probably one of the first places you’ll consider when shopping for a car loan is your local Broomfield-area bank. After all, you may already have a relationship with them and have experience working with them on other financial matters. However, if your credit rating is less than perfect, banks in general will be less likely to approve a car loan. Here are some of the benefits of choosing a bank car loan:

  • You may receive a very competitive rate if you have a pre-existing credit relationship with your bank.
  • The fixed interest rates at a bank can often help you save on a car loan.
  • Banks may be able to set you up with a flexible payment schedule.

Find Flexible Financing Options at Fisher Honda

If you have questions about your financing options, please don’t hesitate to contact our team today. Review our financing FAQs, find out about the benefits of leasing, and learn more about options such as lease buyout and GAP insurance. Make sure to check out our current new vehicle specials, to take advantage of our current money-saving offers, and don’t hesitate to contact us if you have any questions. We look forward to helping you secure the best car loan possible so you can drive home in an exciting new Honda today!


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