Car loan shopping sites that I recommend:
- Automotive: Fast, free quotes that you can use from major banks, and other financial institutions. Instead of going out, and doing all of the homework yourself, you can do the search fast, and easy, and have them contact you.
- Drive Time: Bad credit, or no credit, DriveTime is very similar to Automotive. They help you find a loan for just about any credit score. It’s fast, and easy to try!
When shopping for any type of auto loan, there are a few things that you’re going to want to follow a few steps, in order to ensure that you get the best auto rates around.
How much can you afford?
Before you go out, and shop for a car, you will first want to know your budget. How much do you want to spend, and how much can you afford each month, in terms of your loan? Remember, you should include your car insurance as well, into these payments to make it easier.
Always shop around
The dealership will always try, and get you to sign up with a loan with them, but you’re going to find out that they are generally one of the worst deals around. Unless they are offering 0%, you will find that there are some local banks, as well as credit unions that will offer you great rates. I would recommend that you actually shop around, before you even do your shopping.
Look at the rates
The most important part of a loan is generally the interest rate. The higher it is, the more interest you’re going to pay. You will want to get this rate as low as possible. Some auto loans will have start up fees as well, which you will want to look out for. I would recommend that you look into your credit score, because you’re going to find that this is going to effect your rate.
