The lender through whom you get your car loan is very important, because their policies will determine your rates, the length of your term, and any other conditions. Normally, people will go trough a credit union, a bank, or their BMW dealership in Houston to get their loan, and each has its own positive qualities.

People tend to think that if you get your loan through a BMW dealership in Houston that it’s going to be more expensive, but this isn’t the case. As a matter of fact, loans from the BMW dealership in Houston tend to actually be cheaper than loans from a bank or credit union. For example, you don’t see a bank offering 0% financing very often, but it’s something that a BMW dealership in Houston will offer quite a bit.

All of these choices don’t have to be mutually exclusive, either. When you go to your BMW dealership in Houston, they can check out loans for you from all of the above, and you might take away some pretty good deals–your BMW dealership in Houston will also take away a chunk of dough from the transaction.

This is a good thing for you.If your BMW dealership in Houston gets something for financing you through another place, then they can probably pass the savings onto you. Even if they don’t mention it, you have another price negotiating chip in your hand and all you have to do is use it.

You can’t just go into the BMW dealership in Houston and expect to get fantastic rates without lifting a finger, though. You need to do your math and your research ahead of time so that you know what the difference is between a good loan interest rate and a bad one.

You should also consider the untapped resource of credit unions. Only thirteen percent of car buyers get their financing done through a credit union, but these institutions are usually sixteen percent cheaper than a regular bank.