i want to buy a new car and i always thought the only option was to pay cash or finance through the dealer and someone just told me that i could finance through a credit union.
2007-11-12 13:25:18 · 9 answers · asked by jhoana_pnc 1 in Cars & Transportation ➔ Buying & Selling
Generally a credit union.
But if you qualify for a lower APR with the dealer go for it. As some makes and models are offering 0% and if this is the case, it would seem to be the best.
2007-11-12 13:30:09 · answer #1 · answered by yosemitezuzan 2 · 1⤊ 0⤋
1
2016-09-27 19:43:31 · answer #2 · answered by ? 3 · 0⤊ 0⤋
How's your credit? what is the rate you're getting at the credit union? Keep in mind that at the dealer they are getting you a loan from a bank too. Have your loan from the credit union set, and just like any thing else take the best offer. Just for the record, on used car loans credit unions almost always have the best rates!
2016-04-03 21:50:29 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Depends.
With the state of new car sales in this country, you might get a better deal with a dealer.
But, in general credit unions offer better deals.
Go to the credit union and pre-qualify, see what you qualify for.
Then go to the dealer and don't tell them you have other options, let them come up with the best deal they can give you.
Compare.
2007-11-12 13:52:43 · answer #4 · answered by Gem 7 · 1⤊ 0⤋
Why not finance through your own bank? You do bank, don't you?
Heck, when I bought my car, I financed online, was approved in minutes, got a check in Fedex envelope 2 days later, took it to dealer, already have car picked out, wrote in final amount, signed paperwork, and drove off the lot, that's it.
In fact, financing through dealer will COST YOU esp. if you're dealing with a used car. Dealer actually gets a tiny percentage of your payment as kickback for arranging the loan.
Last time I went to dealer they want 12% on a loan for a used Taurus when my bank only wants 8.25%.
When you deal with a new car, you're actually NOT dealing with the dealer for the loan. You're actually dealing with the financing arm of the manufacturer. GMAC, Toyota Motor Credit, and so on. That's why their interest rates are so low, and they don't apply to used cars.
In general, credit union's rates are BETTER than a bank's rates, so definitely do comparison shopping. Heck, check online at lendingtree.com as well.
2007-11-12 15:00:12 · answer #5 · answered by Kasey C 7 · 1⤊ 0⤋
If you have great credit American cars companies can get you 0% financing or big discounts.
If not, the credit union is usually better than anybody else.
Dealer never give great interest.
2007-11-12 16:04:00 · answer #6 · answered by wazup1971 6 · 0⤊ 0⤋
You can pre-arrange your financing through your credit union. That way, you simply go to the dealer, pick the vehicle, negotiate the price. Once that is done, the dealer calls the CU and gives them the information and you are pretty much done.
2007-11-12 14:04:37 · answer #7 · answered by Otto 7 · 0⤊ 0⤋
go through the credit union as the interest at the dealers is higher, use to be a dealer
2007-11-12 13:38:07 · answer #8 · answered by special 5 · 0⤊ 0⤋
I recommend you to check this site that can solve your doubts http://www.FINANCE-SOLUTIONS.INFO
RE:Whats better auto loan at a credit union or at the dealer?
2014-07-23 20:29:55 · answer #9 · answered by Anonymous · 1⤊ 0⤋
all depends on your credit good luk
2007-11-12 13:36:50 · answer #10 · answered by eaglehas1 1 · 0⤊ 0⤋