Car Loan Dealers

Car Loan Quote - Comparing Loan Quotes
By Carrie Reeder

Don't settle for the first auto loan quote that crosses your
path. There are various methods now-a-days in which individuals
can acquire an auto loan. Be sure to compare all the pros and
cons of each method to ensure you are getting the best bang for
your buck. There are four main ways to acquire an auto loan
quote: dealer loans, credit unions, home equity, or with online
quotes.

Dealership Auto Loan

Dealership loans are fairly common. In the past, a dealership
loan was the only way to finance a vehicle. Times have
certainly changed! One thing is certain, dealership loans are
convenient. While you sit and fill out papers for the vehicle
you will purchase, you might as well fill out papers for a loan
to finance that car. Yes, dealership loans are quite simple,
however, sometimes they are not in your best interest.
Convenience doesn't come free. Many times, these loans have
higher interest rates than if you were to find a loan by
yourself.

Credit Unions

Credit unions are a great option for auto financing. They can
quote much larger loan amounts for a lower interest rate that
an auto dealership. Also, the extra time you will spend with a
credit union is not overwhelming. Many times credit unions can
approve you for a loan in mere minutes. Although one extra
phone call needs to be made, there is not much effort on your
end.

Home Equity

A home equity loan is another option for car financing. Using a
home equity loan allows you to purchase your vehicle while using
your home as collateral. On paper, home equity loans may appear
to have a higher interest rate than standard car loans.
However, the fact that the interest you will pay is tax
deductible may present significant advantages.

Online quote

One of the quickest growing industries online is the financing
industry. Now, you can simply go to a credit website and
compare quotes and loan terms. There are even websites where
banks and lenders will compete for your business. This is
beneficial to you because it means lower interest rates and
shorter auto loan terms.

The moral of the story is: be sure to check all options before
signing an auto loan. There are many different methods to get
auto financing quotes. Depending on your situation, each auto
loan method can present certain advantages and disadvantages.

About the Author: View our recommended lenders for Car Finance
Loans http://www.abcloanguide.com/autoloans.shtml.

Source: http://www.isnare.com