Its better to get auto loan from a bank or at the dealership?


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12 Comments

  1. Laura says:

    YOUR BANK
    don’t mean to shout but do not go through dealer financing, its a huge rip.
    ask your bank how much they will finance you for and then tell the dealership exactly your limit. the dealership will try to tell you they can finance you for more, but you’ll pay more in the long run. the dealers will meet you price, their desperate.

  2. videocrew says:

    Depends, check at both places, see who gives you a better rate.

  3. Little Wing says:

    You’ll generally get a better rate from your bank.

  4. manitou_chick says:

    THE BANK!!!!!!!!!!!!!!!!!!

  5. Aladdin says:

    Neither. Ride a bike. When somebody passes you in a fancy car, you can chuckle and say “They’re in debt! They’re in debt!”

  6. **Nicole** says:

    From the bank is cheaper, dealer finance is generally a rip off. But a friend of mine told me what he does: he organises dealer finance and can negotiate a discount on the price of the car because they’re happy they’re getting extra money from the finance commission. Then he organises it through his bank and uses that to pay the dealer finance in full. He says it works.

  7. Sally says:

    compare both interest rates. also look at the lenders. with the economy in a bad place a lot of places are going out of business and if your lender goes out of business then you are susceptible to the lender who bought yours out. that includes their new rates. the bank is probably a better and safer bet.

  8. Sherry H says:

    Your bank. When you go through the dealership they are making commissions on getting you a loan. Call your bank and ask what you are pre-approved for (amount) then go car shopping and when you find what you like in your price range call the bank back to do the financing, this will save you thousands over the course of the loan.

  9. greggsbabe says:

    Definitely your bank!

  10. goldsheet says:

    Often a credit union will give you a better loan than a bank.

  11. Dona S says:

    Off course bank are the first choice only if you have good credit history, on the other hand dealership auto loan are best for the people seeking for new or used car loan even though they have no credit or bad credit, Many dealers specialize in such case so they can easily avail for the car of their dream through dealership.

  12. ☼AstrologerJuliAnne☼ says:

    Get the loan on your own before you even walk into the dealer. Read this site to learn more:

    http://www.carbuyingtips.com

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