What’s the Best Place to Get a Car Loan?


What’s the best place to get a car loan? How do you do car loan shopping right? When it comes to where to get a car loan, you have a choice between going to your local bank or credit union and doing things in-house with a dealer like Mike Murphy Ford. We personally suggest that you save yourself an extra trip driving around Peoria and just come to Mike Murphy Ford to do your car loan shopping in-house, but we’ll give you a detailed guide why and point you to our value your trade tool to help you a little further.

When is the Dealership the Best Place to Get Auto Financing?

There are a lot of great reasons that the best place to get auto financing is your local dealer like Mike Murphy Ford. East Peoria drivers should know these advantages to car loan shopping with your dealership:

  • A dealer can help you figure out whether leasing or buying is better.
  • Dealerships can do the car loan shopping for you through multiple lenders.
  • You only need to fill out one form to get multiple options.
  • Since many lenders are competing for your business, you’ll likely get a better rate.
  • If you’ve got bad credit, many dealers can work around that.
  • You have access to the best financing incentives with a dealer.
  • You have the option of negotiating your down payment with the dealership.

Car Loans From Your Bank

However, you also have the option of trying your local bank in Pekin before you go to the bank. Speaking with your dealership first might be a better idea because each dealership has different financing partners. If you’ve got subpar credit, you’ll have a harder time getting a bank loan. However, there are still a few benefits. Take a look at them:

  • If you’ve got a pre-existing relationship with your bank, you might benefit from more favorable terms.
  • You’ll often have set interest rates for a clearer experience.
  • You might have the option of additional flexibility in your payment schedule.

Where to Get a Car Loan? Try Mike Murphy Ford!

When you step into Mike Murphy Ford, you’re in the company of experts. We can help you through every step of the financing process, including getting the value of your trade of your car that’ll go against your new purchase. It’s simple when you trust the experts at Mike Murphy Ford. Starting with us is as simple as filling out the contact form.

Search
Contact
Chat
Mike Murphy Ford 40.615803, -89.462405.