2. Your bank or credit union. Your bank or credit union may be able to offer you a lower interest rate on a car loan than the dealer. However, they may also have stricter requirements for borrowers, such as a minimum credit score or a down payment.
3. Online lenders. There are a number of online lenders that offer car loans. These lenders can often offer competitive interest rates, but they may also have higher fees than banks or credit unions.
4. Peer-to-peer lending. Peer-to-peer lending is a way to borrow money from individuals rather than banks or credit unions. This type of lending can offer competitive interest rates, but it can also be risky, as you are not protected by the same laws and regulations as you are when you borrow from a traditional lender.
5. Credit unions. Credit unions are not-for-profit financial institutions that offer a variety of financial services, including car loans and auto refinance loans. Credit unions often offer lower interest rates on car loans than banks, but they may also have stricter requirements for borrowers.
