Quote:
|
A buyer's best bet is always to visit their local bank for alternate financing. Credit unions are especially good at arranging for auto financing, with much better deals than most dealers offer. When I shop for a car, I tell the sales guy that I plan to finance through him in the hopes that this will give him some more flexibility on the negotiated price; he thinks he's going to make an extra $1000 on me through F&I. In the end, I'll go through the local credit union instead.
|
Good advise counselor! This is exactly what I did. BMW was offering me a 6.2% APR and my credit union gave me 4.49%. That is a big difference on a $26,000 loan. Also, I made sure I would be able to pay against the principle early as I plan to pay off this loan within three years.
Thank you for posting this info. I'm sure many of us will find it useful.
__________________
Jet Black, Black Leather, Aluminum Trim, Sport, Premium, Steptronic, 35% tint