the Cost of Auto Loans

My husband and I purchased a car from a local dealership in Colorado. So far the bank has treated us extremely well. They are straightforward with their auto loans, and offer online bill-pay, as well as coupon books to mail a payment, and phone access to call in payments.

They have been good to us so far. We have a higher interest rate than we would like, but our credit isn't stellar, so I guess it is fair. They are courteous when we call in payments, and their website and customer service are easy to use and consistently good. They were also extremely fast with their paperwork and title work, and seem to be on top of things as far as applying payments and correspondence when necessary.

It is a large company, so you may not get as much personal service as you like. They don't have any local offices or branches here in Colorado where I could walk in to give them a payment, but that's not too big of a deal. We probably could have gotten a better deal if we shopped around for auto financing a bit more, but my husband didn't want to waste any time. We settled on a bit of a higher interest rate to lock in the deal for our car loan, and will probably look to refinance with then sometime soon. It would also be beneficial to check into local credit unions, and may be worth the time to open an account at a credit union, as they seem to be best able to offer the lowest interest rates possible.