BMW of Sterling

Main
571-789-2306
Service
571-526-0277
Sales
571-933-8222
21710 Auto World Circle
Sterling, VA 20166
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Bank vs. Dealership: Where to Get a Car Loan?

Car Loan

If you're shopping around for your next new or pre-owned vehicle in the Loudon County or Dc Metro areas, you may be searching and wondering about the best place to get a car loan: the bank or dealership. At BMW of Sterling, we have you covered! Learn about car loan shopping and the best place to get auto financing. As your trusted resource for all your financing and leasing needs, you can rest assured that you're always in excellent hands when you visit us at BMW of Sterling.


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Things to Consider Before You Start Car Loan Shopping

How can I get the best car loan APR? Where's the best place to get a car loan? Before shopping around for your auto loan, you should know your options. Auto financing falls under two categories:

  • Financing "in-house" through your dealership
  • Financing with a bank or DMV DC-area credit union

Neither is objectively the best place for auto financing, but one could provide more benefits.

What Are the Benefits of Financing With Your Dealership?

  • Your Sterling dealership has relationships with a variety of lenders nearby. They handle the application process and help you secure a loan with excellent rates. 
  • Car loan shopping is often easier with your dealership! Rather than applying to multiple lenders, you just fill out one application form.
  • Working with a dealer to get approved is easier for those with less-than-ideal credit scores.
  • Most dealerships offer special incentives and finance deals.
  • Your dealership may be open to negotiating your down payment amount.

If you're someone with little to know crediting trying to get the best possible rates, your best option is to visit us at BMW of Sterling! We'll work with you to help you find your dream vehicle without exceeding your budget because of high-interest rates. 

What Are the Benefits of Car Loans from Your Bank?

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

Get Additional Car Loan Shopping Tips at BMW of Sterling!

So, how can I get the best car loan APR? Visit us at BMW of Sterling! We work with all credit types and will do our best to help you secure the best rate possible. We're proud to be your trusted destination between Maryland, DC, and Virginia for all your financing and leasing needs. When you're ready to upgrade your vehicle for an enhanced driving experience, call us today!