Finding the best auto loan today is easy since the Internet puts the information right at our fingertips. Within a few minutes, you can get your credit report, the name and locations of special offerings from auto manufacturers and the the names of participating dealerships.
You can get your bank rates, other bank rates, credit union rates, manufacturer rebates or low interest and the value of your trade-in. In recent years, some auto manufacturers have given lower rates than almost everyone.
Information that used to take days or weeks to assemble can happen very quickly. Take your time, however, in calculating the estimated costs. If you have a choice of two different vehicles, as sometimes happens with husbands and wives, do the dollar calculation for both.
If you are buying a used car, rather than a new one, the bluebook is a necessary tool to help in your decision making.
You are ready to choose the best loan for yourself now. Call the credit union or bank and fill out the application. If your choice is the manufacturer’s loan, you may apply for the loan through the participating car dealer. If you’ve done everything right, your estimates should come very close to reality.
One last tip on the car price, try to go at the end of the month when salesmen will be very eager to meet their sales quota.