Bank vs. dealer vs. credit union: Who offers the best auto financing in St. Louis?

When financing a vehicle in St. Louis, you can go through a bank, credit union, or dealership. Each has its place, but the real difference comes down to how much support you want in the process.

Banks provide stability and name recognition, but they often have stricter lending requirements and a narrower set of loan products. You typically have to fit their box to get approved, which isn’t always easy.

Credit unions are known for offering lower rates, but access is usually limited to members, and they may not always move as quickly as you’d like during the buying process.

Dealership financing, like what we provide at Frank Leta Automotive Outlet, gives you a major advantage. Instead of you having to shop your loan around, our finance team does the work for you. We spend our time packaging your application with the vehicle you’ve chosen and submitting it to the lenders we know will be the best fit. Our experience tells us which banks are most competitive for certain vehicles and buyer situations, which helps maximize your chances of approval at the lowest possible interest rate.

In short, we go to bat for you. By leveraging our relationships with multiple banks and lenders, we’re able to position your financing in the best light and make the process faster and easier than trying to do it on your own. That’s why many St. Louis drivers find dealership financing through Frank Leta Automotive Outlet to be the most effective way to secure an auto loan.