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First time at a car dealership/ Smart financing options

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My wife's car just broke down again and it is time for us to get a new vehicle for our her and our 2 kiddos.

Now when I finance a car, should I get financing through a dealership or should I get the loan directly from my bank before hand an buy the car outright from the dealership with the loaned money. I heard somewhere that getting a loan through the bank first is the smarter financial decision.

I have never bought a car through a dealership and I am just very unsure about the whole process.

I have only bought clunkers in the past but with a 3 month old daughter and my son we want to have something reliable.

 

Any helpful information about going through a dealership would be helpful.

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Arranging your own financing ahead of time is best. Dealer financing is through a bank and they get a kickback for it, which will usually add to the cost of the loan. Don't let them know that you are doing your own bank or credit union financing until finalizing the deal. If the sales droid pressures you for how much of a payment you want or how you are going to finance tell him or her you will only discuss that with the finance manager in a secure location. 

Most likely the best deal you are going to get is MSRP. Pay attention at every step for sneaky tricks that dealers use to tack on extra fees and costs in the deal. Don't pay for $500 pin stripes, useless undercoating, or even that TruCoat paint protection. If they insist on charging more than MSRP walk out the door and find a more reasonable dealer. Read paperwork very carefully and double-check calculations before signing anything.

5

Now when I finance a car, should I get financing through a dealership or should I get the loan directly from my bank before hand an buy the car outright from the dealership with the loaned money. I heard somewhere that getting a loan through the bank first is the smarter financial decision.

Definitely go through your bank ahead of time.  

I actually am in the market as well and first time buying a brand new car from a dealer.  I asked similar questions and got excellent feedback from our community:

https://carkiller.com/scottykilmer/qa/how-do-i-buy-a-car-part-2-nuances-of-financing/#post-227184

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