Bank vs. Dealership: Where is the Best Place to Get a Car Loan?

For nearly a century, family-owned Pundmann Ford hasn’t just given O'Fallon and Wentzville shoppers excellent deals on new and pre-owned cars. They’ve also become one of the best places to get a car loan in the Saint Charles area. Car loan shopping can be time-consuming and tedious. Knowing where to get a car loan that’s designed to fit your budget can save a lot of time and headaches. If you’re curious about the best place to get auto financing, take a look at how a loan from a bank compares to a loan from a dealership like ours. 

Before You Start Car Loan Shopping…

If you’re unsure where to get a car loan, take a moment to learn more about your options. Generally, auto financing opportunities fall into two categories:

• Financing “in-house” through your dealership
• Financing with a bank or Lake St Louis-area credit union

Neither is objectively the best place to get auto financing, but one may offer more benefits for a buyer in your situation.

Benefits of Financing With Your Dealership

• Your dealership has relationships with a variety of lenders in the Lake St Louis area. They will apply for loans on your behalf and help you secure the best rates available.
• Car loan shopping is easier with your dealership! Rather than applying to multiple lenders yourself, you’ll only need to fill out a single application form.
• If your credit score isn’t as high as you’d like it to be, working with your dealership can make it easier to get approved.
• Most dealerships offer special incentives and finance deals.
• Your dealership may be open to negotiating your down payment amount.

Benefits of Car Loans from Your Bank

• You may be eligible for financial benefits if you have a longstanding relationship with your bank or credit union.
• Many banks offer set interest rates for auto financing
• It may be possible to set a flexible payment schedule

Save Money With the Car-Buying Tools From Pundmann Ford

When your car loan shopping brings you to the Pundmann Ford finance department you’ll find a host of complimentary tools you can use from home to help you prepare your car-buying budget and save money when you arrive at our showroom. If you have an old car to trade, use our trade valuation tool to get an estimate of how much your vehicle might be worth. In addition to our shopping tools, we also have an inventory of quality budget-priced pre-owned cars that have been inspected and reconditioned so you can get many more miles from them. At Pundmann Ford our family is here to help your family get into a great vehicle that doesn’t break your budget.