Buy Here Pay Here Baltimore, MD

There are many different methods of new car financing. Dealerships, banks, credit unions, and online lending companies are just a few. The most important thing that should be considered when you are deciding on new car financing is that you're making the best decision that is right for you. Credit unions are now working with automotive dealerships. Credit unions still provide new car financing loans but the criteria required is at a much higher standard then what dealerships require for qualification. Credit unions are now offering consumers the option for financing through them but at the dealership itself. Credit unions that do indirect lending will recommend dealerships that provide loans with interest rates that are not marked up. This is becoming a hot trend in the new car financing business. It is a program that benefits both the credit unions and the dealerships but allows you to get new car loans and purchase that vehicle you so desperately want. If you're not sure that this is the right option for you then check into new car financing through a bank. Banks usually do not offer the lowest interest rates on new car financing. Regulations for banking institutions require full disclosure of all rates and fees. This regulation gives you the opportunity to comparison shopping. This may end up being the best option for you. Before you purchase from a credit union or dealership, research this option to determine if it is the option for you. Another option you may want to consider is getting a home equity loan to purchase your vehicle outright. Being a cash buyer has many benefits. This allows the negotiation process to sway in your favor. Dealerships know that if you have the cash to purchase the vehicle of your choice they will work harder to see that you get a great new car price and they will try and find alternative financing with low interest rates and low monthly payments. However, make sure that the repayment on your home equity loan is not higher than what your monthly car payment would be if working directly with the dealership for new car financing. Beware also that taking a home equity loan puts you in jeopardy of losing your home should you default in your monthly payments. New car financing has come a long way. New car financing is not only available to those with spectacular credit scores. It is refreshing to know that even consumers with "tainted" credit can still get the new car they have only dreamed of owning in the past.