If you're like most people, when the time comes to buy a car, you think of it as going to the auto-dealership, picking out the car you want (or having it picked out for you by the salesperson), then haggling a bit for the price before signing paperwork for the convenient dealer financing offered to you right there. If you're like most people, you've been swindled out of hundreds or thousands of dollars.
Believe it or not, there was a time when vehicles were bought with cash, or if not cash, then the financing came straight from a bank or credit union to the buyer, not from a bank through the dealer markups to the buyer. The whole idea of dealer financing is just another way for the dealership to make money on the sale of the vehicle to you which, depending on your negotiating and preparation skills, may also be seriously inflated. There is a convenience that comes with this service, but is it worth it?
That's right, most people who settle for the "convenience" that comes with dealer financing are paying for it; paying in higher interest, longer terms, or being manipulated into a higher car price or fewer features in order to make the loan work with their credit. The fact is that auto dealerships don't have banks sitting on the back lot. They go to the bank with your credit score just like you could have done on your own, and when you get approved for a loan, they are going to tack on a fee for the "convenience" of their having done the legwork for you. Whether you're in Bangor, or Portland or Augusta, you can get pre-approved for an auto loan with the lender of your choice at the terms of your choice, then walk into the dealership fully confident and with the extra negotiating power of knowing exactly how much you can spend and not having to rely in the mercy of their lenders to close the deal.
When the time comes to get your next vehicle, you should make MeCarLoans.com your first stop. Here you can get to your car loan quickly and on your terms by letting us know what you are interested in. With just a few simple pieces of information, we can match you to several local and national lenders with quotes that you can compare side-by-side before choosing which loan you want to go with. It only takes a few minutes of your time and there is no obligation to use any of the offers you are given. Even if your credit score is less-than-stellar you can still find lenders that are willing to give you a deal better than what you are likely to find at an auto dealership. Save your time at the car dealership signing loan paperwork and paying for something you don't need from them. With a few clicks on your keyboard you can get the loan you need before you even shop for a car and increase your negotiating ability by a great deal.