You will usually get a better rate if you finance thru a local credit union instead of a bank or finance company. Credit Unions will also determine a book value for the car to be sure you are not being over charged.
Dealerships are the best way to go. Banks are a longer process than dealerships.
Depending on what your banks interest rates are currently, Your bank may be a better option. But, Sometimes auto companies run promotions. It is always best to Shop around.
You will have better advantages
To get an auto loan from a bank you need to give three months bank statements for your salary account along with many other documents. The salary is reviewed by the bank and then the loan amount is decided.
if you are considering buying a new car, don't forget that the auto loan is as important as the car, since this is what you will actually be paying for. It is generally a bad idea to accept a loan directly from the dealer. The dealer isn't actually the one providing the loan, it is coming from a secondary lender. This lender pays the dealer to use them as their lender, and charges you a higher interest rate. Convenience causes most people to accept this. Bank auto loans are a much better option. In reality, the lender provided by the dealership is generally a bank as well, but they are considered an indirect lender, rather than a direct lender. If you go directly to the bank for an auto loan, you will get a much better deal on your interest rate. You don't necessarily have to get bank auto loans by walking right into the bank, of course. There are several sites that you can visit which will provide you with a comparison of the bank auto loans to choose from. If you choose to check with the banks directly instead, be sure to call up or visit at least three banks in order to get an idea of what a fair deal is.
There is a website that can calculate bank rates for an auto loan. Simply go on bankrate.com, click on auto, and fill out all relevant information to calculate bank rates for an auto loan.
One can obtain an auto car loan in a couple of different ways. One way that one can obtain an auto car loan is by visiting a bank, such as Bank of America, and applying for one. Auto car loans can also be obtain by applying for them in places other than banks.
Most banks that offer loans offer auto loans as an option. Some banks that offer auto loans include US Bank, Bank of America, Nationwide Bank, and PNC bank.
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According to the website BankVibe, the best auto loan rates in Boston are available from Eastern Bank, followed by TD Bank, followed by Salem Five Bank. For more information and comparisons, the website Bankrate provides a table of auto loan rates for lenders in Boston and other areas.
One could get help with auto loan refinancing from Wells Fargo. Other options include Capital One, Edmunds, Chase Auto Refinance, and Bank of America.