Is It Better To Get A Car Loan From Bank Or Dealer?

Is It Better To Get A Car Loan From Bank Or Dealer?

If you’re searching for a new or used car, chances are good that you’re planning on financing.

But before you sign the papers at the dealership, you might want to consider if you can get better interest rates and lower your payment by financing your next car through a bank or credit union.

Which bank is best for car loan?

Best Car loan Interest Rates India March 2019

Car loan BanksInterest RatesEMI per Rs 1 lakh for 7 Years
HDFC Bank8.50% – 11.25%Rs. 1,584 – Rs. 1,725
ICICI Bank8.82% – 12.75%Rs. 1,600 – Rs. 1,806
IDBI Bank9.00% – 9.10%Rs. 1,609 – Rs. 1,614
Indian Bank9.00%Rs. 1,609

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Should I get approved for a car loan before going dealership?

Why You Should Get Pre-Approved for a Car Loan Before You Head to the Dealership. The idea behind getting pre-approved for a car loan is simple: By shopping around for an auto loan, you’ll enter the dealership with a good idea of the interest rates and terms you can expect.