A loan offer from a bank or credit union before you shop gives you a rate to compare against dealer financing.
How
- Check your credit reports for free at AnnualCreditReport.com
- Ask your bank or a credit union for an auto loan preapproval
- Compare the APR and term, not just the payment
- Let the dealer try to beat it, in writing
Rate shopping
Applying with several lenders within a short period is generally treated as a single inquiry by credit scoring models.
General educational information. Loan terms and fees vary. Thrifty Horizon isn't paid by any dealer, lender, insurer or warranty company.