Bank Loan vs Car Dealership Loans

The "bank auto loan" information below is written with the consumer's (your) benefit in mind. I recommend that you read it closely before you start looking for a bank auto loan.

"Bank auto loan" -- would you believe that the car dealership has the best auto loan rates around? I hope not. The car lots would love for people to believe that. They spend millions of dollars a year trying to convince you to steer clear of bank auto loan deals and use their so called "zero percent down -- zero percent financing". Run for the hills ladies and gentlemen.........make sure you ask the dealership how much the car will cost you if you get your own financing. They may even tell you that you have to finance with them. You see...they sometimes make the majority of their profit from you high interest payments.

A bank auto loan will ensure that you get the lowest rates available and if the car vendors are quite willing to let you get your own financing and drop their sticker price, you are on the right car lot. The auto dealers will add their high interest rates in to the original sticker price so you don't see it as interest. Pretty sneaky right....right. A bank auto loan should make sure that the auto dealer gets their basic profit and that is it. They should be able to go along with this as they are supposed to be in the business of selling cars, not loan sharking.

Some dealers see people come on to the lot with their bank auto loan financing in place, and they grimace. Those people who have secured bank auto loan requirements prior to running off to test drive vehicles are one step ahead already. Auto dealers count on "heat of the moment" impulse buying. They'll not only let you test drive the car, they'll let you take it home while they work out the "paper work" on the "great financing deal" they are giving you.

Avoid being "taken" and get a bank auto loan secured before you even test drive your first car or truck. Thanks for visiting Auto Loan 4U and we wish you the best of luck on your quest to find a fair interest rate on a bank auto loan.