Understanding Auto Financing: Direct Lending Vs. Dealership Financing

Your promotion and raise in your salary has finally given you the opportunity to own a car. However, with new car prices ranging between $33,000 and $25,000, it is difficult for you to afford one. Even used cars start from $20,000. According to Finder, last year, Americans racked up $568.6 billion in car loans. Today, the interest rate on auto loans is 4.21% on monthly payments for 60 months. The good news is, when it comes to financing a car, you have two options: you can either buy a car…