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Bank or Dealership: What’s the Best Place to Get Auto Financing?

When you’re ready to finance your new vehicle, you may be wondering where to get a car loan for the best rates around the Red Bank and Freehold area. And, when it comes to car loan shopping, many would suggest either a local dealership or bank. But which is right for you? Acura of Ocean is here to break down these two options so you can find the best place to get auto financing that works with your budget.

Car Loans from a Dealership

A local dealership like Acura of Ocean is a great place to find outstanding rates on car loans and financing. These are just some of the benefits you can enjoy when you finance directly with the help of a local dealer: 

  • Dealers can help you determine if leasing vs. buying is right for you. 
  • Dealerships work with a variety of lenders to get you the best rates possible. 
  • It is easy to apply. You only need to fill out one form to get multiple options. 
  • Multiple lenders are competing for your business, which can lead to a better rate.
  • Some dealerships offer options for those who have issues with credit.
  • The dealership may offer financing incentives.
  • You may be able to negotiate your down payment when financing with the dealership. 

Car Loans from Your Bank

Another great option besides a dealership is your local bank. And, if you consult with them and apply for financing at a bank before going to the dealership then this is a much better route, as each dealership has different financing partners. Although, be sure to take your credit history into consideration because if you don’t have the best credit or meet their standards it will be harder to get a loan or you’ll have to accept a higher rate. Nevertheless, these are some benefits of financing with your bank:

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

Discover More Finance Resources at Acura of Ocean

The decision on Acura financing with a dealership or bank is ultimately up to you and what you feel most comfortable with, and at Acura of Ocean we have a full team of finance experts who can walk you through all of your financing options. And, be sure to take a look at our inventory of new and CPO models for sale so you can save even more on some great luxury vehicles. Contact us to schedule an appointment and a test drive at our dealership near Asbury Park!


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(732) 776-5200

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909 Route 35 • Ocean, NJ 07712

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Acura of Ocean 40.2339628, -74.0375136.