Best way to finance a car

Penfed usually has the best rates.

Best way is borrow from life insurance company. 2nd best is interest only heloc. 3rd best is from family.

Get pre approved at a credit union. While you're at the dealership just let them run your credit and act as if you're financing with them. You'll sit down with finance after you finish with the salesman. They'll throw a paper at you with some bullshite monthly numbers. And you'll say alright idc about these numbers, what term and rate did you quote? Then you can negotiate on rate.

I just bought a high mileage truck a couple of weeks ago. 787 score and credit union approved me for 7.54 but had to add a point for 75k+ miles so 8.54. Dealership had me at 8.9. I tell him to match the 8.54 and I'll finance with them. He offers warranty and I decline initially. Then he goes to 8.09 and takes $400 more off of the truck.

You can always ask for the "buy rate" in finance too. This is the lowest rate the bank they use approves you for. Dealership is then allowed to mark up that rate to make more off of you. They may or may not tell you or act like they don't know what you're talking about.

When in doubt just decline and they'll keep sweetening the pot for you. And if you really want the warranty from the dealership make sure to ask what the deductible is also. Someone mentioned CarEdge and you can buy a warranty through their site for cheaper and on better terms than what the dealership offers.

In my casse I'm just gonna cancel the warranty and still buy it through a third party. If you straight up don't buy their warranty or make that known that you won't then you have less negotiating power with them. So that's something to consider too.

If looking at new check the manufacturer special financing rates. Not everything comes with a good rate but a lot of vehicles do so it's worth looking at that first because a lot of them can still be in the 0-4% range which is very likely way better than what you'll find anywhere else.

You can look these up on any of the manufacturer's website, usually under "offers/incentives" or something.

I even saw 1 deal recently where Hyundai is leasing out their Ioniq 6 for $239/mo with $0 down (other than first months payment) for 24 months. Thats a steal for a $44k vehicle.