TopoliMotors: Financing Your Car
The vast majority of cars aren't bought by consumers at all; they're purchased by banks. Very few buyers pay cash outright. The rest either borrow or lease a car from a bank, an automaker's finance arm, or a credit union. Shopping for a loan isn't as fun as shopping for the car itself, but it's not as difficult as securing a mortgage, either. We recommend that you shop around for a loan before you go to a dealership.
To get the best possible interest rate on a car loan, it's important to understand two things: the current marketplace for interest rates, including different lender options and financing offers, and your personal financial situation and its possible limitations.