They obtain the best market value and provide you financing for approximately 66% of the automobile's cost to you, the buyer in the best cases. Their loan operations are excellent because they have the best information in the automobile industry. They have the certified blue books, which show the appraised value of every model of car made in the world. They also keep a close association with all the automobile dealers in town, throughout the state and sometimes out-of-state whenever Interstate commerce laws allow it.

Therefore your local bank has the best information on all the best bargains in used and new cars. It is certain that you won't have to worry about getting a good deal if you have a good credit report. This insures your rating in the eyes of your bank bringing such benefits as lower interest rates and longer loans. Now this is the bright side of the coin, what I have to tell you next is the dark side of the car loan fable.

Throughout the city and state there are numerous used car sales lots. Many streets here in town are elbow to elbow with used car lots. They look attractive and their price tags seem just right. The prospective buyer should exercise extreme caution before financing a used car from any unknown automobile car lot. First, there are many used car dealers who charge outrageous interest rates on the cars they sell.

They can do this because in our state, the state legislature has voted that used car dealers bear an extreme risk when financing any car from their inventory to a person with questionable credit. This is the "usury allowance" laws which have allowed bad car deals and legalized loan shark businesses to thrive throughout America. Our state isn't the only one, where greed and avarice dwell you find similar programs. You see a car that really is the one for you.

Maybe your credit isn't in such good shape so the bank can't help as much as you wanted. The "Triple Nasty Car Dealership" offers you financing, free tags and sales tax on the car of your dreams. Only it becomes a nightmare quickly when you decide on a car you really can't afford. The interest rates on your car payment far exceed what your license tag or sales tax. In fact you can be making payments of over a thousand dollars a month for a five year old vehicle.