When the auto-partplace.com team decided to choose an auto loans vendor, we decided to provide only the best...
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. If you're a corporate employee, school district, government agency, college, etc., you probably have a credit union. Credit unions are easier on you than banks, they'll lend you more money at favorable rates, usually 2% better, but not as good as the car loan sites. Your credit union can approve you over the phone in minutes, printing your credit report during the call. They'll tell you what you qualify for. I have found more often than not, the online lenders rates usually beat even the credit unions.
