When buying a car, there are several different factors you need to take into consideration – finding the right style of car, deciding whether to buy used or new, narrowing down on something in your price range, and getting a loan for the chosen vehicle. While no part of this is easy, getting a loan can really throw a wrench into things.
The biggest challenge you’re likely to face when trying to get a loan is that of excessively high loan rates; people get gouged on loans all the time and it can be for any of a number of reasons.
How do you know if you’re paying too much for your auto loan? These 3 factors are common indicators that you could be getting a better rate.
You Got Your Loan At The Dealership
Unless you’re buying your car from an individual, you’re probably already at the dealership, so why not work with them to get a loan? For one simple reason: you won’t get a good rate.