back to articles | December 31, 2018 | Greg Thibodeau

Categories: Auto Loans & Financing Types of Car Loans

Used Car Loans

Used Car Loan Tips

Used Car Loans Tip #1: Avoid Bank Loans

Used car loans can be difficult to get. If you try to get a used car loan from a bank, they will probably not lend you money for a used car. Even if they do give you a used car loan, banks charge several percentage points higher for used car loans than for new car loans.

Used Car Loans Tip #2: Online Lenders

Use an online lender to get a used car loan. You should always get multiple loan quotes when shopping for an auto loan. At, we provide you up to four auto loan quotes, so you can be sure that you're getting the absolute best used car loan, at the cheapest price possible.

Used Car Loans Tip #3: Private Auto Sales

Used car loans for cars bought from private auto sales used to be hard to get. Now, you can get a person to person auto loan, from, and buy a used car from a private party. You can even get pre-approved for the used car loan.

Used Car Loans Tip #4: Direct Financing, Not Dealer Financing

Get direct financing when shopping for used car loans. The benefits of direct financing vs. dealer financing are considerable. Direct financing will save you money by offering a lower percentage rate (APR), provide you bargaining power at the dealership by allowing you to "pay cash" for your used car.

Used Car Loans Tip #5: Used Car Loan Pre-approval

By having pre-approved auto financing, you can buy with cash in hand, you will know what price range to shop in, and you will have increased bargaining power at the auto dealership. By clicking "apply online today" below, you can have approval and auto loan quotes, from up to four online lenders.