Overhaulin'

Is it easier to get a new car loan from the bank or the dealership?

My bank agreed to a 15,000 loan but only with a co-signer, because I have never borrowed anything close to that and I had some late payments a little over a year ago. I don't have anyone to co-sign. Is the dealership (Hyundai) more likely to push a loan approval through without a co-signer?

Public Comments

1. well, its not the dealership, unless you go to a buy-here-pay-here type, which doesnt sound like you are. when you go to a dealership they will run it through several different banks they are associated with. so i suppose you may have a better chance because they ask usually about 5 or so banks. but, just becareful, because if you do get an offer to finance without a cosigner, your apr is going to be very high, probably around 20-23%.
2. The dealership will try more than one bank to get you approved. If you go to a dealership with a Special Finance Department they will be more likely to get you approved for a loan because they work with banks that will lend to people with less than perfect credit. Good luck.
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