It’s a given, shoppers from Fenton and beyond will always prefer a better deal and more savings when it comes to car loan shopping. Everyone wants to know the best place to get a car loan, be it a bank or in-house finance. It goes without saying that everyone’s asking the hot question: “Where is the best place to get auto financing?” Don’t worry, the finance team at Suntrup Automotive Group is here to talk about just that! Keep reading to learn more about the best place to get auto financing – and be sure to contact us via our online portal if you have any questions!
When it comes to new and used car financing around St. Charles, you’re typically going to be left with two options: financing through the dealership where you’re purchasing the vehicle (also known as in-house financing) or seeking financing through a bank or other lending institution, such as a credit union. Both of these options offer different benefits to shoppers – let’s talk about those:
In-house auto financing, wherein you finance the purchase of your vehicle through the dealership itself, often catches a bad rap. In truth, it can be one of the most useful options for drivers with low credit scores or those looking to build their credit. Here are some of the benefits of working directly with the dealership for in-house financing:
A tried-and-true method of securing auto financing, and perhaps the most traditional, is by applying for loans through banks or credit unions. For most drivers with average and above credit, this is the best place to get a car loan. In similar fashion to in-house financing, you can choose to work with our finance team to apply for loans with hundreds of banks and credit unions nationwide! Here are some benefits of financing through a bank or credit union:
When shopping around for an auto loan, it’s paramount that you remember the differences between financing that a dealership finds for you, financing you find for yourself, and in-house financing. Like we mentioned above, each type of financing source has its own respective benefits and drawbacks. Remember these key facts about each type of financing:
If you’re looking to have our finance professionals assist you with finding financing from a bank or credit union, we can get the process started by having you fill out a quick online finance application! (Don’t worry – this application will not affect your credit report or score.)
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