There are several ways to finance a car…

• Get a car loan from family or friends.
• Get a loan from the car dealership.
• Get an auto loan from your own bank, credit union or online.

Keep in mind that you won’t be building your credit rating if you get a car loan from a friend or family. So for the sake of this article, lets concentrate on whether to get a car loan from the auto dealership, or from your own bank or online…

If you finance a car then you should know that you can almost always get a better car loan from an outside source like your own bank, credit union or online instead of through the car dealer. Sure, those 0% new car loans advertised are enticing, but the dealerships will rarely negotiate much on the price of the vehicle if you opt for one of those. Plus, by getting pre-approved for a car loan from your own bank, credit union or an online car loan, then you will know exactly how much car you can buy BEFORE ever appearing on the car lot.

This will give you a HUGE advantage when it comes to negotiating the price down and it totally simplifies the entire car buying process as it insulates you from the high pressure bully tactics often used in the car dealerships finance department…because this is THE place where they are looking for any way possible to extract more of your hard-earned money.

Hah hah…and you thought all the main car buying stuff happened out on the car lot!

Oh no, Understand that everything on the car lot was designed to wear you out and make you more receptive. Yes, all those questions about “how much can you afford each month?” (don’t tell them!) and all the “let me check with my boss” and all that waiting was designed for one thing…

The shark in the finance department!

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