I suggest getting pre-approved for two or three auto loans so that you can bring the best offer with you to the dealership. You may also find better rates than what the dealership can offer. Check with your bank or credit union or try one of these online sources:

Online Auto Financing

  • up2drive (A division of BMW Bank of North America. They offer new and used car loans, private party financing, and auto re-financing)

  • myAutoloan.com (a good option if you have less than perfect credit)

When you get pre-approved from an online lender, they'll typically mail you a blank check that is pre-approved (up to a pre-determined amount) that you can use to pay for the vehicle. Take this check or documentation of a rate quote with you to the dealership. When you talk to the Finance Manager, give them a chance to beat the best interest rate you received. The Finance Manager works on commission and will usually try to beat or match your best rate if you give him a chance. Ask him what kind of rate he can give you and do not be embarrassed to show him your outside lending quote. If he cannot match it, then feel free to use your outside financing.