Is It Better to Finance through the Dealership or the Bank?

Advantages of Financing through a Dealership

You’ve found the car of your dreams but now is time to consider how to pay for it. You want to get the best rate on the financing of your vehicle but are not sure where to turn. You have the option of financing your vehicle through the dealership or through the bank. The dealership offers a number of advantages.

The dealership offers convenient auto financing. They go through a bank and find a rate for you, which allows you to drive away in your new vehicle that day. They can also offer special rates on a new model vehicle. Some of these rates can go as low as zero percent.

Advantages of Financing through Your Bank

Financing your vehicle purchase through a local bank also has its advantages. For starters, it’s local. That means that if there is an issue or a late payment, you have someone close by that you can speak to.

Sometimes the rates are better when you speak to the bank directly. This is because there is no middleman and you can directly negotiate with your lender.

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