Should I sign on a 2.9% car loan or can I do better?

"Is 2.9% a good deal or can I do better with my perfect credit? I found the perfect car at a dealership and they are advertising a 2.9% special interest rate financing."

“As long as you have a credit score of 700 or more, you should qualify for the dealership’s special financing which sounds like a great deal.
Be mindful that dealerships can be very sneaky with their fees, which can cost you way more than the initial cost of the new car. You will likely be financing that fee as well as the car itself.
You can likely get a better deal by asking for the same exact rate from a bank or credit union and negotiating the asking price of the car down before talking to the dealer about financing.
Consider what you plan to pay for a down payment, as this will also significantly affect the total cost of the vehicle at the end of the loan.
Before agreeing to anything, you should also make sure that there are no other fees added by the dealer besides tax, tag, and title.”
Johnny Puckett
Answered on Jul 28, 2021
Johnny Puckett is a freelance writer and automotive expert. He has contributed content to a number of some of the largest online publications, aftermarket automotive manufacturers’ sites, and automotive informational sites. His experience in the automotive and information fields informs his writing at Jerry. His automotive interests bleed into his free time, where he enjoys modifying his favorite cars and woodworking.

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