Should you do it personally or let the auto dealer do it?
2007-03-21 04:49:50 · 3 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
I've been shopping around...I did get a great rate through a credit union. Interestingly, the auto dealership then offered me an even better rate that was not advertized. So you may want to go into dealership knowing the rates of banks and credit unions beforehand.
2007-03-21 05:40:35 · answer #1 · answered by lma0814 4 · 0⤊ 0⤋
You need to shop around if you want the best rate.
You can always go to your bank or credit union and get pre-approved for a loan amount of what you believe your next car will cost at a specified interest rate. (If you're smart, over estimate by a little, say 5-10% of what you think the car will cost). (This will hit your credit score, but will also insure that you can get financed at a good rate)
When you get to the dealership, determine the lowest price you can get for the car. When they ask about financing, ask them for their best rate. If they can do lower than what you got from the bank/credit union, take their lower interest rate offer, if not you're covered.
It's just as important to be sure you can get a good interest rate for your loan as it is to make sure you can get a good deal on the car!
2007-03-21 04:58:27 · answer #2 · answered by hsueh010 7 · 0⤊ 0⤋
whoever has the lower interest rate.
2007-03-21 07:28:17 · answer #3 · answered by Melissa T 3 · 0⤊ 0⤋