What’s a cost-effective, cheaper way to finance a new car or pre-used automobile?
Credit Union is always the BEST way to go!!! Something people don’t know about credit unions is that they are a not-for profit organization so overall their rates are wayyyyy better than a traditional bank! & it’s even better to go to a dealership pre-approved for a loan, because since you cut have the paperwork/credit approval time in half… than those already thirsty salespeople will be dually eager to sell you a car at a better rate.
& if you do go the used car route… what Ed said up there is also super genius & correct. Buying from a private owner is the route I always take because alot of times people cannot afford payments on their cars so you can make a purchase on an awesome vehicle for their loan payoff ammount & save TONS in dealer costs. I always recommend & prefer private sellers over LARGE dealers.
find a private seller and obtain a loan through your finical institution. Credit Unions are usually pretty good about working with people to help them get a car. Saving a few dollars and making sure your credit is good always helps too.
Going through a dealership can get you a warranty, but you might overpay.
ALWAYS check the bluebook price and have a mechanic check the car before you buy.
[and dont forget that just buying a car means you can drive. Make sure you have money for Insurance, Tags and License!]
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Credit Union is always the BEST way to go!!! Something people don’t know about credit unions is that they are a not-for profit organization so overall their rates are wayyyyy better than a traditional bank! & it’s even better to go to a dealership pre-approved for a loan, because since you cut have the paperwork/credit approval time in half… than those already thirsty salespeople will be dually eager to sell you a car at a better rate.
& if you do go the used car route… what Ed said up there is also super genius & correct. Buying from a private owner is the route I always take because alot of times people cannot afford payments on their cars so you can make a purchase on an awesome vehicle for their loan payoff ammount & save TONS in dealer costs. I always recommend & prefer private sellers over LARGE dealers.
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Go to online sites such as eloan.com to compare rates and payments. If you don’t want to actually get your loan from one of these sites (and there is no reason you shouldn’t), you can use the quote information to help you shop locally at banks and credit unions for the best deals.
There are also a number of online independent lease brokers who will arrange to buy a pre-owned vehicle and lease it back to you for payments that are considerably less than loan payments.
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If you have good credit go with the low interest financing. Financing can save over the lifetime of the loan. That can reduce the amount by thousands over the 3-7 years of the loan.
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I can finance your used car at a lower rate than your credit card company, bank or dealership.
Top 5 Answerer in this category.
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