shopping for your car
Where to Go for Financing?
Before car shopping, compare different financing options. Car loans are available from banks and credit unions, from finance companies, and through car dealerships. Going through a dealership, which of these is true?
- The dealership provides your loan itself.
- You can use this financing for any car make and model you choose.
- You may qualify for a low promotional interest rate.
"C" is correct. Dealerships even offer zero percent rates on specific models. This seems like a bargain, but you may end up paying more, because you can't get a rebate if you take this option. Dealership loans come from other sources, like the manufacturer financing division, but only cover the brands the dealer carries. With a loan from your financial institution, you can shop at ANY dealership.