back to articles | December 31, 2018 | Dale Peterson

Categories: Loan Calculators & Rates

Car Loans

Finding Car Loans

Obtaining a car loan is often the determining factor in buying a car. It's certainly something we all want to do, but finding a cheap car loan isn't always easy.

Car loan rates fluctuate often due to external factors. You might find a cheap car loan only to wait a day and find it isn't so cheap anymore. Fortunately, the Internet allows people to identify the lowest rate in many cases.

Car Loan Facts

Consider these facts when looking for a cheap car loan:

  • Car Loan Rates are usually found on new or late model, used cars less than 2 years old.
  • New cars can be financed over a longer period of time which can make a car loan cheaper.
  • Many dealers advertise cheap car loans to get customers in the door. Once there, most people find they don't qualify.
  • Using the Internet allows you to research many more cheap car loan offers than you could on foot or by telephone.

Good Credit and Car Loans

Your credit rating is important! It's the main factor considered by the car loan lender. Other factors affecting your ability to get a cheap car loan include: the type of car you choose, the car's age, mileage, the length of the loan and the size of the loan. Your credit history usually outweighs all of those other considerations.

Get copies of your credit report before you attempt to get a cheap car loan to insure there is no incorrect information. Rectify any outstanding debts as well. The good news is individual online car loan lenders policies vary, so shop around for the cheapest rates.

Use the Internet to get pre-qualified for a used car loan. Your best shot at getting a great used auto loan is to do your research.

Car Loans on the Internet

There are many factors to consider when looking for a cheap car loan: APR (Annual Percentage Rate), the down payment, trade-in allowance and the number of months required to pay off the loan. You should carefully consider all of these components when looking for a cheap car loan.

Research all these factors online! The Internet offers great research tools to help you learn about car loans and how to get the best deal. True cheap car loans are easier to recognize and find when you are knowledgeable about the loan process.

The Internet provides you with the ability to locate cheap car loan lenders, car loans for people with bad credit, car loan interest calculators, cheap car reviews and more. E-mail car loan lenders about how to get the cheapest prices. Many sites will submit your car loan application to different lenders to get the cheapest financing or auto refinancing available.

Online information can help you from the beginning of the loan process to the end, so start researching now to get the cheapest car loan rate possible.