Clark has talked for several years about the tremendous advantage of getting pre-approved for your car loan from a credit union. They offer deals that are substantially better than what you’ll get from a bank. You will probably get rates of about 1.5 percent lower at a credit union. That’s because credit unions are co-ops, meaning the account holders own them. Online banks also offer great rates on car loans. And there is now a third option for you if you’re shopping for insurance – warehouse clubs. Both Sam’s Club and Costco Wholesale now write car loans at great rates. Sam’s Club is offering 5-year car loans for 3.75 percent. Costco is offering 3.5 percent for executive members and 3.6 percent for other members. Those rates are fantastic! Now, if the car dealership is offering you a lower rate, by all means get it from them. And sometimes insurers, such as USAA, offer competitive car loans. So, check out all of your sources. The other trick of the trade is to refinance an existing car loan that has a really high rate. Costco’s refi rate is offering 4.5 percent for a car older than three years and 4.1 for cars that are newer than that. The one thing you should NEVER do is to walk into a car dealership without having arranged your financing in advance. You have no idea what can happen to you on the spread because dealers mark-up loans whenever they can. If you have your money in advance, you don’t have to worry about getting taken.