#cheapest car loans
How to obtain the cheapest car loans
Getting a car loan can be a hassle, but shopping around can save you thousands in interest payments. Finding a cheap car loan depends on factors such as your credit score, the type of car you’re buying and the institution from which you’re receiving the loan. Because your car is one of the most expensive assets you’ll have, it’s important to find the cheapest car loan possible.
The first steps
Receiving the best interest rate possible on your car loan requires planning. Cheap car loans start with good credit. Pull your credit history for free at AnnualCreditReport.com. Know your credit score so that you know the interest rate you should get. The better your credit, the lower your interest rate.
Know your budget and research the type of car you want to buy. You may want that Porsche 911, but affording the payments is a different story. Make sure you can stay within your budget while finding a car that meets your needs. Research cars and pricing on sites like Edmunds and Kelley Blue Book for accurate estimates of car price and reliability. Keep in mind that interest rates on new cars are usually lower than on used vehicles.