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What the best way to go about auto financing

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2 hours ago, Mimimimimimi said:


Someone help! Should I call the banks directly to avoid 1000 inquiries



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That would be called direct financing whereby you pursue all the banks to tender your own application.  You directly control the number of banks that get your application.


If you go the indirect route with a dealer you will have at least 2 inquires.   One from the dealer and the other from the lender selected by the dealer.  Each time the dealer submits your application to another lender, then that lender will create its own inquiry.   I've never had 1000 lenders to pick and choose from.

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If your credit is not good then it's counterproductive to shop yourself.  The dealer should know who is most likely to approve in your situation and target the applications. 


If your credit is good then do go ahead and shop yourself, although anything other than credit unions is likely to be wasting time.  The big commercial consumer banks tend to be really conservative with car loans, even if you are a long-time customer.

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