Don’t just say yes to a car loan from a salesman
Many people assume that the only way to get a car loan is to arrange one with the salesman that you are taking the loan from, but this is not the case. There is a reason why the salesman wants you to get your car loan from him and that is his commission.
Before you head out looking for a car, have a quick look around at third party car credit providers. Ask a few for quotes based on what you expect to be spending. You are not committing to a loan, just shopping around for the best deal. Then, when your salesman offers you a loan with your car, you straight away have a deal to compare it against.
If your other deal is better, then a shrewd salesman is either going to back off and leave you to arrange your loan if he knows his is more expensive, or he is going to start bargaining. But be aware that any bargaining must leave you better off, not just earn him his commission.
Shop around for your car loan before you hunt for your car, it could go towards saving you a few pounds!
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