When it comes to who has the best interest rates, it's hard to say exactly. Car loan rates are based on your income and your credit history.
If you have excellent credit and a high income, you may qualify for 0 percent financing with your dealer. This may come with a shorter repayment period, though, making your monthly payments higher.
Ultimately, you should get quotes from both and compare the terms for yourself.
Why Interest Matters
The interest rate you pay on a loan can make a big difference over time, which can either help you or prevent you from saving money. Even just a 1 percent difference can add up significantly.
If you take out a $20,000 car loan with a 5 percent interest rate and a five-year term, you'll pay $2,645 in interest over the life of the loan.
With a 6 percent interest rate, you pay $3,199 in interest. That's more than $500. It may not sound like much, but why give away $500 when you don't need to?
Unless you have excellent credit and can qualify for 0 percent financing you will find better rates with CUDL.