Shop for a Bank Auto Loan and Save Yourself Some Cash on That Auto Loan (cont.)
Contributed by Annie Bauers
Won't I get a better deal on an auto loan from the dealer than at the bank?
You won't necessarily get a better deal on your loan at an auto dealership than you will at a bank. Then again you won't necessarily get a better deal on your auto loan at the bank than you will at the dealership either. What constitutes a good deal is the interest rate that you secure the loan at. If you are smart you will go to the bank and ask them the rates on their auto loans so when you get to the dealership you will have something to compare their interest rates with.
Interest rate can make you or break you so shop around before you secure a loan so you will know who is giving out the best deals for your wheels!
Is it smarter to get a bank auto loan than one at the dealer?
It's not smarter to get a loan from one place than it is from another. What is smart is to get the loan with the lowest interest rate. You can find some really low interest rates on a bank auto loan if you take your time and shop around for one. However there are some dealers that offer great deals as well. What is smart is to shop around before you secure a loan. Check at the bank to see what the rates are on their auto loans.
