I'm going to be buying a new vehicle next month and I'm starting to look more seriously at auto loans. I could easily just take the Toyota financing and use whatever rate they give me, but I'd like to have options.
I saw that Bank of America and Chase Bank have pretty good rates that I would qualify for, but the dealership I'm using isn't in their network. Does that mean I can't use them for financing? My next option is to check out a few local credit unions and see what I can find there. I'll ask the dealership to let me know what their lowest rate possible is before they run my credit, because I'm sure I'll qualify.
Something that is super important for me is no penalty for paying off the loan early. I'm planning to pay this thing off in a year or less, so if there are any penalties for that, it's a no-go for me.
Any other ideas/advice? I've gotten auto loans before, but I've always just taken the financing from the car manufacturer's financing arm so figured I'd shop around this time.
Submitted September 29, 2020 at 07:14PM by WildTomorrow https://ift.tt/2HJ3Op1
