Want the best interest rate on a car loan in California, check out a credit union

Car shopping requires a bit of prep work, that is if you want to get a good deal on a reliable vehicle. Aside from the obvious time that should be put into research about the make and models of your choice, the market and price ranges, you will also need to shop for good rates.
Loan shopping should begin long before you ever set foot in a dealership showroom, or make a phone call to an individual seller.
Where to shop for interest rates A good place to start is your computer. As the technology age continues, information within the auto industry becomes increasingly available to consumers.
Search engines Type the term car loans into the google search engine and you will see any numbers of car loan websites and services. This provides more choices than you can imagine, but don t be overwhelmed.
The ability to place requests with different financial institutions means that they are competing for your business, as a consumer that gives you a decided advantage.
Pick up the telephone Beyond the internet, a phone call offers more personalized service with local financial institutions. While many of us prefer the instant gratification involved with a wholly online service, we still exist in a world where many others prefer face to face interaction.
Calling your local banks, or even doing your research online and then making a personal appearence at the local branch of your chosen institution will also ensure you get the best interest rates possible.
Be sure to give your bank a chance Be sure not to overlook your own bank, whether it is a national chain or a small local institution. Many times banks will offer better interest rates to customers who have money and/or a long term relationship with them. Not to mention the convenience factor of keeping your finances with one financial institution you already know and trust.
Start with credit unions Long known for their exclusive members-only benefits, credit unions are becoming increasingly public. This means that lower interest rates and more personable service is available to the general public. When shopping for auto loan rates, credit unions is the place to start.
Again, google is a big help in the initial search process, and there are many great credit unions to choose from. If they require membership for their services, chances are good that membership requirements are minimal and easily met.
Also worth a look are credit unions that cater specifically to the auto industry. Services like Credit Union Car Network offer many services related to the auto industry such as:
Vehicle sales and purchases a huge selection of reliable used vehicles Financing Certified safety and mechanical inspections on every used vehicle sold A free 90 day or 3000 mile warranty on every car sold Extended warranty options Real time video of their used car stock broadcast through their website
Bottom line, they need to work for you It almost seems like dealership finance departments were designed to confuse their consumers who are making a big ticket purchase. Shopping for loans ahead of time releases you from feeling any obligation to dealership financing departments.
Besides increasing your confidence level, having funding handled when you step onto the dealership lot gives you leverage in the haggling department simply because you are not at the mercy of dealership financing.
Bottom line, you are the customer, and you are the one paying the money. Be sure you make that financial relationship with an institution who made an effort to gain your business, not one that traped you into it.
About the Author My name is Paige Filler and I m a creative writer with a love of all things that go vroom. I do my homework to bring thought and innovation into everything I write about the auto industry. You can find more of my stuff at Cash4UsedCars, and our blog.



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