Looking for car payment advise.....

Discussion in 'Chit Chat' started by Beadlady, Sep 24, 2012.

  1. Beadlady

    Beadlady Member

    We are pretty much pre-approved through our credit union up to a certain amount.

    My husband thinks we can get a better rate if we get a car loan through the dealer financing dept--but some people have told me that is not always the best way to go as most require 10 percent down not including a trade in; and to be careful that there are no pre-payment penalties and that the interest rate is the amount they quoted.

    I do like the fact having the loan through my credit union I can go right on line and make the payment from one acct to another and I know that my payment was credited on time.

    Also I think that if something happened and we needed to pay later than our due date that the credit union would be more willing to work with us since we have a 5 year history with them.

    Any thoughts about this?


  2. TwoCatDoctors

    TwoCatDoctors New Member

    Below are two pages on car financing that may give you some help. On the second site, scroll down to the chart and see how the figures reveal the much greater savings at the end, over how it looks at the beginning: