[Cassandra]

I am having a lot of mechanical issues with my 2016 Cruz, it is currently in the shop for repairs.

So, I have decided to buy a new 2023 car ( it is only a few thousand more than a used one w 100,000 miles) I am able to comfortably put down $8-10,000 plus trade in value.

But for the rest would it b better for me to get a loan through the bank or dealership?

I’ve never done anything like this bef so all tips are appreciated).

[Beth]

Check with both. Get some pre approvals without a hard check if possible prior to going to the dealership and then also see what they can get you then go with the best rate. Also do your research on vehicles first before committing to the vehicle and check out Kelly blue book prices.

It’s hard to get Kelly blue book pricing at a dealership but at least you’re going in with some kind of idea. I would advise getting a used vehicle at the dealership if you’re going to a dealership but maybe something with such low miles you still have the manufacturer warranty on it (less than 50k miles for Volkswagen) That’s what I did and got it near Kelly blue book pricing.

[Rita]

Get a loan with a credit union.
Never with the dealer unless it’s an emergency.

[Vicki]

The bank! Dealerships will not be the best rate, etc- they may say they are, but they make a ton of money off of financing. If they have really low interest rates, they generally will not give you a great deal on the car.

Call bank on Monday, get rates, etc- compare. Don’t be in a rush- check it all out carefully. Once in a blue moon, the dealer is a better bargain, but- again, check all of your options.

Plus, you will do better to sell your car on your own vs trade in, again they will not give you as good a deal on the car. They’ll give you an amount for your car, but just take that (and maybe a bit more) off of new car.

Good luck.

I’ve bought many cars over the years, so I have some experience with this.

No offense to car salesmen, but I don’t trust them as far as I can throw them. I’ve had them outright lie to me before.

[Gail]

You lose thousands when you buy a new car and drive it off the lot. Buy a low mileage used one that is a 2021 or 2022 that was a leased vehicle.

[Linette]

I also had a Cruz with tons of issues. I opened a case with GMC directly and they reimbursed me all my payments on the car as well as paying off the remainder of the vehicle.

[Serena]

I went to my credit union, told the salesman the rate they offered but not who it was. Financing was approved for half the rate. And it was at my credit union!

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