You're better off taking a cash rebate then shopping around for the lowest rate possible. Don't let your guard down too soon. You will still need to negotiate the cost of the car, trade-in value and extended warranties. More Credit union loan rates Credit unions commonly offer better auto loan rates than banks or thrifts. Today members can generally get loan approvals 24 hours a day, conveniently pick up the check, then go on to the dealer for a new car.
Members can even have an auto broker do their shopping.
Longer loans also tend to have slightly higher interest rates because of increased statistical chance of default. The most common mistake that auto shoppers make is assuming that negotiation is not an option. The second most common mistake is lack of preparation. Prepare by determining exactly what you want, research what is a fair price and figure out what's most important to you and to the seller. If you turn in your vehicle at the lease end, you can save yourself some money with minimal investment.