Car loan -Car loan at bank or dealer

As a starting point, it is cheaper to borrow a car from a finance company, but what is really best for you when the choice is between a car loan at a bank or a finance company?


If you want an answer to your loan application quickly and if the price of the car loan is decisive for you, you should probably consider borrowing from a financing company.

If you have the best time to collect your loans in one place, and if you feel confident in getting advice on your overall economy, you should probably borrow from the bank at the car.

We give you an overview of the advantages and disadvantages of choosing either the bank or a finance company when you go out and borrow for the car.

Benefits of the finance company for the car loan:

  • Cheaper loans
  • Option to choose between fixed and variable interest rates
  • Preserves loan facility at the bank


Advantages of the bank for the car loan:

  • The bank knows your finances
  • The ability to combine a car loan with other loans
  • Advice on the total economy

Benefits at the bank

If you are considering taking out a car loan with your bank, the benefits according to Ronni Nielsen may be that the bank knows your finances in advance.

»If you have the best way to collect your finances in one place, then you have to choose the bank. Your bank should know your finances better, so you may be able to get more advice, ”says Ronni Nielsen.

If you want the cheapest possible car loan, the bank is often not the optimal choice for you, because here the banks can rarely compete with the financing companies’ prices. In return, they offer something else.

“The bank can many times combine a car loan with some of your other loans, so, all in all, it becomes cheaper, but as a general rule, a car loan will be cheaper with a finance company. In a bank, it is often some of the other values ​​that customers emphasize, ”says Ronni Nielsen.

At the banks, the vast majority of car loans will be with variable interest rates.

If you want to bet that the interest rate is to your advantage, it can turn out to be a good financial decision – especially if you have to borrow for a short period – because then the variable interest rate will often be lower than the fixed rate, and thus you will save money.

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