One thing to know about a used auto car loans is that you must be well prepared. Many people go to a dealer, sit on the desk, get served with some old black coffee and the dealer tells them what a sweet a deal he has gotten for them. And the next moment not only have you bought a car from him/her, you are also financing the car from the same institution. This is a big “no-no.” You should always get financing through another independent lender before you step into a car dealer’s office. You can save a considerable amount by going elsewhere.

Financing a car through the dealer is always more expensive than getting a car loan from a bank. The majority of auto car dealers make a lot of money from these financial loans rather than from the actual sale of the car. So once you have seen the car you want and know the price, go elsewhere for the loan. Read the rest of this entry »