Bank loan vs. Dealer financing

If I were you, I'd probably look into the contract first and then compare. You see, aside from the rates, there are a lot of things in the contract that could either make or break you, one thing is the acceleration clause wherein it states there that once you default payment even for once, the company has the right to sell your property without advising you, better watch for that.

Hi Sonicrobot, there are two things you need to consider. You need the lowest interest rate possible and the ability to over pay to pay off the debt quicker, never take the option of only making the minumum payment on any credit. I would look at using a zero interest card which will offer that for the initial few months and then start charging interest, before it reaches that time swap to another zero rate card. Only use it to finance the car as other purchases will be subject to interest.

As this is your first time with credit you need to ensure you get off to a responsible start with it and do nothing to blemish your credit rating. If you are t