Will a Car Dealer help me get a Car Loan?
Answer:
Several car dealerships offer in-house financing or
employ auto loan brokers that help buyers secure financing. Although a car seller can help you get a loan, you may not obtain the best deal from the dealer. Many car dealerships are honest and offer buyers the lowest rate possible.

Yet, a few dealerships operate scams that result in the buyer paying more for their vehicle. After deciding to purchase a new or used vehicle, a sales associate often directs potential buyers to another office where a finance manager arranges financing. After reviewing a buyer's credit, the finance manager discloses an interest rate and monthly payment.

Dealership financing is common, and many buyers obtain an affordable rate. The problem lies with dishonest car dealers, who exaggerate the interest rate and profit from excessive fees. For example, the actual auto lender may approve the buyer for a loan with a 6 percent interest rate. Yet, the car dealer increases the rate to 7 percent and pockets the difference. Auto buyers can protect themselves. You can secure your own private financing through a bank or credit union. Better yet, get multiple quotes from an auto loan broker and compare their finance package with the rate offered by the car dealership.
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