Where Is the Best Place to Get a Car Loan?

Car finance paperwork with signing


When car loan shopping, Clearwater shoppers are always looking for ways to get the best deal possible when buying a car. If you want to know where to get a car loan, we can help! Learn about the best place to get auto financing and get helpful financing tips for a well-informed and stress-free car-buying experience with Land Rover Tampa.

Car Loan Shopping

There are two options when buying a new or used Land Rover vehicle:

  • The dealership where you are purchasing your vehicle
  • A bank or other lending institution like a credit union

There are benefits to both of these options.

Car Loans From a Dealership

One of the best places to get a car loan is at the dealership where you’re buying your car.

  • Dealers help determine if leasing vs. buying is the best financial option for you.
  • Dealerships work with multiple lenders to get you the best interest rates possible.
  • You can apply for a loan right at home using the online application form.
  • Several lenders are competing for your business, which means competitive rates and comparing rates.
  • Some dealerships offer options for those who have bad credit scores.
  • The dealership may offer financing incentives.
  • You can try to negotiate your down payment when financing with the dealership.

Car Loans From Your Bank

When choosing where to get a car loan, you can consider your local Wesley Chapel bank. However, be sure to speak with your dealership before applying because they have different lenders. If you have poor credit, you will have trouble getting a loan through your bank. Even so, there are benefits to car loan shopping with your bank:

  • You have a pre-existing relationship with your bank
  • There are pre-set interest rates
  • You may be able to get a flexible payment schedule

In House Financing vs. Bank & Credit Union Financing

When car loan shopping, you’ll want to know the difference between financing through a dealership and a bank.

  • Bank Financing: When applying for a loan at a car dealership, the dealer sends that application out to different lenders and compares the rates to get you the best deal possible. You can get approved before visiting our dealership by applying for financing right at home.
  • In House Financing: In-house financing is provided directly by the dealership, which means there’s no need to get approval from a lender. However, sometimes it means higher interest rates, but it’s excellent for car buyers with no or bad credit.
  • Credit Union Financing: Applying through a credit union that you belong to could save you money.

Get More Financing Tips With Land Rover Tampa!

If you’re ready to enhance your Brandon drives, peruse our new Land Rover inventory to find the luxury vehicle that’s right for you. Give us a call to schedule your test drive. Be sure to check out our new vehicle specials!

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Land Rover Tampa 28.0521333, -82.4589012.