When the auto-partplace.com team decided to choose an auto loans vendor, we decided to provide only the best...
Your car loan amount should not be higher than the value of the car. Just like home refinancing, where the bank won't lend you more than the value of the house. You might want to check your values first to make sure your car has retained a reasonable amount of value relative to the amount you still owe on it. Compared to bank auto loans, which can run about 2 percentage points higher, dealership-financing rates are certainly enticing. However, did you know that some dealers offer a substantial rebate if you pay cash rather than take out an auto loan? For this reason, when you are shopping for the best "deal," don't overlook your bank as an economical financing source.
