Is it better to get a auto loan or to just go to the dealers and get the car through their loan part

my credit history is in the middle

Is it better to get a auto loan or to just go to the dealers and get the car through their loan part?

Dealers make a profit from the bank if they give you the loan. That said -- my recamendation would be to go to a bank and see what kind of loan you could get. See what % they can give you etc. With that number in mind you can then make a better decision at the dealer.

I agree with the other poster - negotiate the pricing first before talking about HOW your going to finance it.

It is very possible that you could use the money you know the dealer is going to make from the bank in your favor. It might sound cheezy but you have to figure that the dealer is going to throw as many cheezy excuses at you to get more money out of you anyway, reverse that and use it to your advantage.

I used to work car sales and a lot of people would come in with a bank check or cash and think that if they can plop down the entire $20,000 right then and there in front of the salesman that they will get the best deal in the world.... dealers LOVE to finance... they make more money off of it.

Also keep in mind that a lower percentage rate doesn't always mean you got the best price. 4% on $10,000 vs 10% on $9,000.... you might have spent more on the 5% but you saved money in the long run because you only financed $9k instead of $10 (in this example only $100 but still cheaper).

Get all of the facts and figures straight before you go in and you can whittle them down and work out a number that works FOR YOU.

Never go in and ask for thier best price right away - they will never give it to you. When all is said and done if you walk out of there feeling like you got a good deal, go with that -- you got a good deal. Once the paperwork is signed try to avoid asking yourself %26quot;gee, maybe I could have ......%26quot; you will only drive yourself crazy with the %26quot;what if's%26quot;.

Buying a car from a dealer is always a game. The dealer wants to make money and you want to save money. Try to not let them flash so many numbers around that you get confused and end up agreeing to something your not sure of. And if the salesman says %26quot;yes, that is included in the price%26quot;... GET THAT IN WRITING before he takes the proposal to his manager.

Sorry if this answer is a little all over the place, there is a lot of information and a lot of things to consider when buying a car. Hope some of this information helps.

Is it better to get a auto loan or to just go to the dealers and get the car through their loan part?

Research a loan yourself, you'll probably get a lower interest rate. Try your bank (or credit union) first.

Is it better to get a auto loan or to just go to the dealers and get the car through their loan part?

I've always gotten a better loan from the dealer. I'm also middle type credit. As long as it is a reputable dealer. Also a lot less hassle than getting a loan prior to purchasing. Sorry but I'm the lazy type. I currently have a 4% loan which shocked me as I don't have pristine credit.

Is it better to get a auto loan or to just go to the dealers and get the car through their loan part?

definitely go through a bank or credit union. dealers always have higher APRs and finance charges. you'll want something around 7 or 8% APR if possible, lower is better!

Is it better to get a auto loan or to just go to the dealers and get the car through their loan part?

If you can get a loan through a credit union, try that. If not, go to the dealer and let them know what percentage rate the credit union is offering, so they can ask their banks to match (or even beat) that rate.

For example, I was rejected by my bank for a loan at 5%, but the car dealership is MUCH more motivated to finance me, so they can make the sale, so they are trying to get as close to that 5% as possible. If I can't get a rate under 7%, I'm walking.

Is it better to get a auto loan or to just go to the dealers and get the car through their loan part?

Personally I've always found it better to go to the dealer. But you need to know what you are doing and understand the games they play. My credit is excellent, and I've had several banks tell me that they could not match what the dealers can do, even if I trade and want to use the same bank, they still told me to go back through the dealer for the better rate.

Just remember, negotiate the price first, then talk about the payment later. Try to take someone with you who understand financing. Look for hidden fees, the term, and the rate. Check the amount to finance. Remember that the rate is often negotiable too, some places will try to bump the rate if they can.

If you are just not sure what you are doing, it may be safer to get an auto loan at a bank.

Is it better to get a auto loan or to just go to the dealers and get the car through their loan part?

If you want to increase the profit the dealer makes on the sale, and pay a high interest rate on your loan, go ahead and do it through the dealer. If you have credit that is middle to high, get your own loan and save a little money.