When trying to make the decision of what kind of new car financing to get you have many choices available to you. If you're like most people, paying cash to buy a new car just isn't in the realm of possibility. And even if it's in the realm, you may not want to deplete your savings account to buy a new vehicle. This means that you're either going to be leasing the car, or buying the car by financing it. If you're buying, then you're probably financing it through the dealership, a bank or credit union, an online financial institute, or maybe even a family member. If you know you want to finance your car rather than pay cash, then you need to do your homework and decide how to get the best new car financing deal.

There are many pros and cons depending on the type of new car financing you wish to get and how you wish to get new car financing. The pros for new car financing through the dealership are that the new car financing is convenient, fast and can sometimes be very competitive. The cons for getting new car financing through the dealership is sometimes high pressure, usually not competitive, you should be prepared for a big sales push on add-ons, and loans are often front-loaded. The pros for new car financing through the credit union are they have competitive rates, personal service, no sales pitch for add-ons, often can tell you if you're paying too much for a car, often provide free life insurance or disability insurance with loans, and the loans are usually simple interest loans. The cons that apply to new car financing through the credit unions are that they are not as convenient as dealership financing.

The pros of getting new car financing through online financial institution are usually competitive rates and are quick and easy. The cons are that it isn't a personal service; you are dealing with an unknown company, and can become part of a scam. The pros and cons of getting a new car financing loan through family or your friends are that they do have competitive rates but may jeopardize a relationship between you and that person. This type of loan is not recommended. These are ways to get a new car financing loan. Always consider all your choices that are available to you when purchasing a new vehicle.