Should I do direct lending or finance through the dealership?

Which is the better option: Direct lending or financing through the dealership? I've heard mixed stories on both.

“Direct lending allows you to shop around and find the best rate, but it also takes time to do so.
This will usually result in a lower interest rate for your car loan.
Financing through the dealership is quick and easy, but you may not always get the best rate.
If you decide to go through the dealership, keep an eye out for promotional rates, such as 0% financing or something of the like that can help you save money.
No matter which method you choose, you will likely need a sizeable down payment, so come prepared to either lender with your amount in mind.”
Eric Schad
Answered on Jul 14, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.

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