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How do I decide where to obtain financing for my car loan?

Here are some steps to follow when deciding where to obtain financing:


  • Find the best deal: compare offers from banks, credit unions, and the dealer. 


  • Remember that dealer loans often are more costly. 


  • Compare the total cost for all loans (interest rate, length of loan, any other costs, contract terms). What is the bottom line total you will pay?


  • Be sure to read all contract information carefully before making a decision on a loan.





Brenda Procter, M.S., State Specialist & Instructor
Personal Financial Planning, University of Missouri-Extension


Last update: Thursday, March 11, 2010








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