Buying a car is not as simple as it used to be ten years ago. For the past few years it has gotten harder and harder to secure the finances to buy a vehicle. Banks are getting really tight and strict when it comes to applying for an auto loan. There are other options but many of them are scams or are designed to keep you surrendering more and more cash until they have gained too much and you have lost to the point of bankruptcy. Auto-Loan from the Bank Of course the first financial solution is to apply for an auto-loan from your bank. This however is one of the hardest types of solution to push through. For one thing, the bank has a lengthy and very strict system to double check your credibility. They will check everything from your credit score to your history of paying the bank (for other loans and credit bills). They will study how much you get paid, how long you’ve been in that particular job, how young you are, and the costs of the car. It can be quite difficult to get qualified when you go for an auto-loan from the bank. Worse yet, people with bad credit or people with no credit might end up paying interest fees that are too high to be reasonable. Financing from the Dealer The next option is to go for financing from the car dealer. Very often this is the better solution because it is a lot easier to get qualified. The car dealer might have their own connections to dozens of third party creditors who could give you more reasonable auto-loans and they might be a little bit more lenient. After all, the car dealer wants to sell you a car so they will go out of their way to provide you with a source of financing. You do have to beware though. Some of these creditors might suggest really appealing deals like 0% interest for the first year but things could get nasty after wards. You might see sudden spikes in the interest rate or you might suddenly face ridiculously high penalty fees if ever you miss a payment. It never hurts to be a little bit cautious. The Alternatives There are a few solutions other than getting an immediate car loan. You could go for a payday loan to secure the car but this is a ridiculous plan since most payday loans only cash out up to $5,000. That is barely even enough for the down payment. Then there are honda dealers in iowa . You buy the car from them and they are also the people who will finance it for you. Basically you are paying the car in installment but with a slightly high interest fee. This is usually the last resort for people who cannot get a loan from the bank or third-party creditor. The Best Solution The best solution, by far, is still to rely on the car dealer and go with their financing solutions. They want to sell you the car and they will help you secure an auto-loan that is reasonable for your income so that you can go home riding a new vehicle.