The absolute best way to save as much as several thousand dollars in finance charges is not to finance at all. For many of us this is not possible. If you can, pay for your car in cash or at least make a large down payment. Another way to save is to always get the shortest term auto loan possible as this will lower your interest rate.
One thing you must do is to get a rate quote (or pre-approved auto loan) from your bank, credit union and/or online before seeking dealer financing. Your savings can be as much as $1000 or more in finance charges, simply by shopping for the cheapest auto loan rate quote.
Another consideration when deciding on what is the best way to finance your new vehicle is the dollar difference between low interest rate or 0% financing and a lower sale price. You must know that that getting zero or low interest rate dealer financing may mean that any rebate or cash back offer may not be valid.
When you are ready to buy a vehicle, your due diligence is what will make the difference in how much you pay. Research and a planning on your part will save you a great deal of money and comparing lenders for the cheapest auto loan quotes will be well worth the effort.
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