Quote:
Originally Posted by Maestro
Not necessary true. I have shopped loans a number of times and the last go around I got the lowest interest, even lower than one's with points and still did not have to pay any costs. I did the loan directly with the bank so they did not have to pay anyone any fees to process or service the loan it was all theirs so they cut the best deal.
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Interest rates change couple times a day. It might be that, in that last go around the rates were lower, hence you got a better deal.
As another poster said, no free lunch. The easy way to see this is to look at APR rather than rate.