When car loan shopping, there's no shortage of options in the Pasadena area. Some customers head to South Houston banks, while others hit the Deer Park dealerships. So, just where is the best place to get a car loan? It depends on your needs. Let's walk through your options to figure out where to get a car loan that suits your situation:

Car Loan Shopping Basics

When you buy a vehicle, you'll generally apply for a car loan in one of two places. You can head to your bank or you can apply for financing at the dealership where you are purchasing the vehicle. The two institutions offer different benefits and drawbacks, which is why this decision can have a big impact on your financial package. 

Auto Financing from a Dealership

For many customers, the dealership is one of the best places to get auto financing. Dealerships are often more flexible than banks. Plus, you can save a lot of time by financing in the same place as your test drive! Here are some of the perks to financing with a dealership:

  • A dealership works with multiple lenders, negotiating the best deal for you.
  • You can fill out just one application and get several different financing options.
  • Dealerships often have financing incentives to sweeten your deal.
  • You have more room for negotiations when you apply through a dealership, which can lead to lower down payments.

Car Loans from a Bank

If you love your local bank in Galena Park or Pasadena, you can also try securing auto financing from your bank instead of the dealership. If you have great credit, this can be a terrific option. But if you have less-than-perfect credit, you might find that the financing process is more difficult than applying through a dealership. Here are some benefits to financing with a bank:

  • If you have a pre-existing relationship with your bank, you may be more comfortable handling auto financing matters there.
  • There are often set interest rates that can result in a better deal.
  • You can often set up flexible payment schedules for added convenience. 

Visit Bayway CDJR for Your Car Loan Shopping Needs

Finding the best place to get auto financing might feel overwhelming, but luckily, the team at Bayway CDJR is ready to help. Whether you have questions about warranties, leasing, buying, or anything finance-related, you can rest easy when you visit our finance department. Our financing experts can walk you through your options, so stop by our dealership in Pasadena or contact us with any questions.