Which would be better to do: Finance a car w/the dealership or get an auto loan from a bank?

I live in Texas, and have fair credit. How much do you think my interest rate would be?

Which would be better to do: Finance a car w/the dealership or get an auto loan from a bank?
Brittany B, Try getting a free online auto loan quote. http://www.autoadviceonline.com/Free-Aut... The form will give you results based on your credit and financial situation. It will only take a few minutes.
Reply:My suggestion is to get approved first by an institution like a bank or credit union. This pre-approval will give you an idea of how much you can afford and what payments you are dealing with.


Also, this will help you when buying the vehicle, because you will be able to negotiate the price based on the car and not "what payments the dealership can fit you into".


Once price is negotiated, then it does not hurt to look at their financing if they can get a better rate for you. Some dealerships have good offers right now at rates that bank and credit unions can't touch. And, if the dealership financing starts to look sour, then at least you already have the bank financing to complete the deal and drive home.





Your specific rate though, is all based on your credit. Good Luck. Do research on the vehicles you are considering.



Reply:Since the auto industry is so slow now. They have great offers. I am not sure are you looking for a new car. If yes, many of them got great deal like 0% APR or 1.9% for like 5 years no matter how your credit is. If you are approve they will gave you their promotion offer. If you got approve from the dealer you don't need to bother to go to bank. They cost more than 5% most likely.
Reply:Hello,





I live in the US and i really have never seen goodness shown to me this


much in my life as i am a struggling mum with three kids and i have been going


through really rough times in my life and my name is Helen


Peters and in all this hard times, a worse incident occured in my life as i


lost my job which was my only means of survival and things became really bad as


i had bills to pay and my last son suffered a knee injury incurred when he fell


from a tree house and the doctors informed me that he needed a surgical


operation for his knee so he could walk again and at this point, life was


useless to me as i have no family and no one to run to and each night, i will


sit down and cry till the break of dun until one day, i read an advert on yahoo


answers of man that stated that he could help people in my shoes with loans and


in my desperate situation, i had no choice but i had to try and so shocking and


suprising, it was like an impossibility becoming a reality, i got a loan of


$75,000 USD even with my bad credit within 48 hours and my sons surgery was done


and thank GOD it was successful and now, i am okay and living in comfort with my


kids and i said to my self, i have never ever seen this kind of wonder in life


and i decided i will tell it to the whole wild world and i need every one to


thank GOD for Mr Patrick Harvey, the man GOD used to rescue me and my family


even when all hope had been lost and gone and i will say to every one, no matter


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Reply:Id depends on the actual company. Get quotes from credit unions and banks before heading to the dealership, then compare all of them right there.





Here are way more financing tips to help make sure you don't get ripped off:
Reply:Whoever gives you the best deal but I would not go more than 5 years. Also make sure it's a fixed rate with an open end which means you can pay extra each month to cut down on the term.
Reply:I recommend trying a credit union. I was able to get a loan for 2 points lower than any other bank.
Reply:Go through your bank, I would never go through the dealership they rip people off big time.