Comments on: Financing A Car At The Dealership And Getting A Loan From My Credit Union Same Thing?

By: Lover not a Fighter

Lover not a Fighter — Fri, 04 Sep 2009 14:18:01 +0000

If you can get a loan from the credit union, take that choice. They are usually cheaper.
Credit union is a NONE profit organization. They don’t try to make money on every deal / loan. They run for the members of the credit union (the people who has accounts). So the interest rate a cheaper.
Good Luck…

By: cobraeat

cobraeat — Fri, 04 Sep 2009 14:18:01 +0000

Pretty much the same thing, just the dealer is the middle man in getting a loan from the dealership. Either way, you are going to need a co-signer.
Credit union will be cheaper on rates.

By: nap4gbp

nap4gbp — Fri, 04 Sep 2009 14:18:01 +0000

first is to call credit union and get their rate and than go to dealer and get a car that you want and don’t tell them you already have a quote fro another lender and ask them what rate they have and if higher than tell them you will go with your lender, most always they will use the famous words and that is ( quote ; let me check some other lenders to see if their rates are close to yours and sure enough they find one ) it’s big game and they get kickbacks from lenders to use their rates and people who go in with out other rates use theirs and let dealer get another, so if theirs would be less than go with them , if not use yours.
the car buying is a big game from buying to financing so do some work first and the more you know the better you be.
just another piece of advice, look up the value of the car you are going to buy ( ex. edmunds.com or kellybluebook.com ) and type in info about what car you are looking for and the options and they will give you the price you should pay so when you go to dealer you’ll know the price you should pay and not the price they are asking, if you don;’t know they again will over charge you