 TITLE: Buying a New Car? Here’s What You Need to Know CONTENT: Shop Around for Auto Loans\n--------------------------\nWith some car dealers, it's possible to have the finance department arrange financing for you with one of the lenders they work with. However, you may be able to get a better deal if you get an auto loan on your own.\nIf you go this route, you'll start the process before you ever step foot in the dealership. Banks, credit unions and online lenders can preapprove you for a loan based on several factors, including your credit history, income and expenses, and the vehicle you're looking to buy. You can then take the conditional offer to a dealership.\nTo improve your chances of getting the lowest interest rate you qualify for, it's best to compare a handful of auto lenders and the rates they offer. Doing this will not only save you time at the dealership, but it can also save you money. That's because when a dealer arranges financing through one of its partners, they may offer you a rate that's higher than what their partner quotes, with the difference acting as compensation to the dealer for handling the process.\nBy bringing your own financing terms to the table, you may be able to negotiate a lower interest rate through the dealer or buy the car with a rate the dealer may not be able to beat.\nJust keep in mind as you shop around that it's best to do so quickly. If you apply for multiple car loans within a 14-day period (sometimes that period is longer, but it's better to be safe than sorry), all the credit inquiries are typically counted as one inquiry when calculating your credit scores. END