Loan Articles


Shopping for a car and finding a good deal on an auto loan is not an easy task. Dealers will sometimes set you up with financing with interest rates that are too high and add-ons that you really do not need for your car.

The Internet makes it fast and easy to obtain an auto loan. You can get a loan without needing to go through a dealer for financing. Online lenders often offer interest rates that are lower than those offered by a dealer. Exceptions to this are when a dealer is offering promotional financing deals. You can shop around on the Internet to find the best financing offers available to you. It is an opportunity for you to find the best interest rates and payment plans that will work for your budget and lifestyle. With the Internet, you can access many lending institutions, very quickly. All this can be done from the comfort of your own home.

If you are buying a used car, you may find that it is more difficult to obtain a loan for a used car than a new car. The interest rates for used car loans are also normally higher than those for new cars. You will not be able to obtain special financing offers like those offered by dealers for new cars. For example there will not be any 0% or 1.9% interest rate offers. However, all of these factors do not mean that you cannot find the best deal available to you when applying for a used car loan.

The interest rates for used car loans can vary greatly form lender to lender. This is why it is important to take your time and shop around for the best options available to you. Your credit rating and the amount of money you need to finance will greatly affect your rates. If you have poor credit, it is especially important that you take your time to compare rates. Your rates will be higher because you are considered a greater lending risk, however, you can still find the best loans for your circumstances.

Again when shopping for an auto loan, the Internet can be a very valuable resource. You can quickly and easily compare rates between various lenders. It may even be a good idea to get approved for a used car loan before you begin shopping for your car. By doing so, you will know how much money you can be approved for and shop for a car that fits your budget. There are many websites where you can obtain free car loan quotes. Taking your time to do your homework can save you a good deal of money because you can find the best interest rates available to you.

We have all seen the ads on television for 0% financing on new cars. This sounds almost too good to be true. There are many things you should keep in mind about 0% financing offers. In most cases only people with nearly perfect credit will qualify for this offer. Often times, 0% financing is only available for a short term. This means you will need to pay the car off sooner and can end up having higher monthly payments than if you could stretch the loan out over more time. It is also important to realize that just because you are getting a great interest rate, does not mean you are getting a great deal on the price of the car. You may find that other dealers are offering a better deal/price on the car through rebates or special discounts.

When shopping for a car, it is also important to take your time to “shop” for the best loan. Do not jump into financing through the dealership right away. You may very well be able to find better rates by finding your own lender. Take your time to compare rates and terms of loans from various lenders to find the best deal for you.