Financing with a Bank or Dealership: What’s the Difference?

When shopping for a new Mazda, the most important question car loan shoppers ask themselves is “where is the best place to get a car loan?” So, do you choose a bank or a dealership? Learn about where to get a car loan and your financing options for both to decide on the best car loan option for you in Portland. Be sure to contact our finance center at Power Mazda with any questions.

Bank Auto Loans

Many Wilsonville drivers tend to go to the local bank for a car loan first. If this is what you plan to do, speak with your dealership first since the dealership has multiple lenders. It may give you a better chance at getting approved, especially if your credit score is lower than you’d like it to be or you’re experiencing bad credit. Despite having issues with a low credit bank loan, you’ll find that financing through the bank offers some benefits including:

  • You have a pre-existing relationship with your bank
  • The interest rates are often already set
  • You may have the option for a flexible payment plan

Dealership Auto Loans

The dealership where you purchase your vehicle might be the best place to get auto financing. Not only is it simpler, but you have more options available. This is because:

  • Dealers can help you determine whether leasing vs. buying is right for you.
  • It’s easy to apply for a loan. Only one loan application form is needed to give you multiple options.
  • Dealerships work with multiple lenders to find you the best auto loan rates they can.
  • Since there is more than one lender competing in the mix, there’s a better chance you’ll get the rate you’re looking for.
  • You may find the dealership offers financing incentives to help you save money.
  • Some dealerships even offer options for drivers with little to no credit.
  • There’s also a chance you could negotiate your down payment on your loan terms.
Gray 2018 Mazda6

Discuss Your Financing Options at Power Mazda

Once you’ve found the new or used vehicle you’ve been looking for, visit us at Power Mazda to speak with our finance center. Our finance experts will be happy to answer your questions, help you apply online, or assist in getting the process started in-store. Learn more about your options at Power Mazda today! Questions? Simply complete this easy-to-use contact us form.


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Power Mazda

3230 Market St NE Salem, OR

Phone: (503) 581-3000

https://goo.gl/maps/97pr9aJtVLr

Parts

Phone: (503) 581-3000

3230 Market St NE Salem, OR

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Phone: (503) 581-3000

3230 Market St NE Salem, OR

Sales

Phone: (503) 581-3000

3230 Market St NE Salem, OR

Mobile Sales

Phone: (503) 581-3000

3230 Market St NE Salem, OR

Service

Phone: (503) 581-3000

3230 Market St NE Salem, OR

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Phone: (503) 581-3000

3230 Market St NE Salem, OR
44.949678 -122.9954528
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Power Mazda
Power Mazda
3230 Market St NE
Salem, OR, 97301 United States
(503) 581-3000
https://di-uploads-development.dealerinspire.com/powermazda/uploads/2017/10/PowerMazdaOGImage.png
Power Mazda 44.949678, -122.9954528.