Posts tagged ‘lowest car loan’

Getting a Low Rate Loan


Locating the lowest rates on car loans is only elusive when the consumer does not know where to look. A dealer has to compete with other dealers by offering the best lending packages possible. Purchasing a car or truck at the right time can improve your chances of getting the lowest car loan rate. Most experts suggest shopping for your new car in the fall. The new models are arriving and dealers are anxious to clear out the old stock to make room for the new inventory. Several other factors need to be considered when searching for the best financing options.


Before shopping for a new vehicle, you really have to take an honest look at your finances. Buyers should know how much money he or she can realistically afford. Yes, it is common knowledge that Americans tend to over-extend themselves. Thus, the financial disaster currently facing the entire country. Over-extending is not limited to private individuals. It is also common knowledge that paying cash is always the best way to go. Lending institutions make their money on the interest they charge for extending credit. When no credit is required you save money!


But, chances are you can not plunk down the full amount, that is how financing got started in the first place. Ford and others like him wanted to sell their products, but the average citizen did not have the cash to pay the full amount. They had a steady income, so credit was granted! Times have not changed much since then. The fundamentals are the same only the rules have changed. You no longer need a steady job, a regular income or even a good credit history. But, if you want the best rate, then these factors become more important than anything!

Lenders Want Your Money

Right now cars are selling for less and lenders are willing to do just about anything to get your money. So, if ever there was a time to get a car loan at a low rate, now is the time!

Car buyers guide in getting the lowest car loan rates

Buying a vehicle is an exciting experience but getting the lowest car loan rates to finance the vehicle would further make the experience more exciting. However, finding the right car is most of the time difficult since there are many car models offered on the market. The good thing is that getting the best car loan rate is easy to obtain. This article provides some tips that you can consider before going to the dealership.

Check your credit report

The best way for you to increase the chances of getting the best loan rates is checking your credit report. You need to examine the entries included in it to see if each of these is correct. This is important since most lenders base their calculations of the interest rates of your loans with the credit report. Do not hesitate to correct the wrong entries included on the report. You can also provide justifications of these incorrect entries when you go to the lender to apply for a loan.

In case the report shows that your credit score is low, make sure to improve this by looking upon your unpaid premiums. Paying your old dues improves your credit score therefore making you a lesser risk customer. This will not only affect the interest rate you get form auto loans but also the other loans that you wish to obtain.

Search for more financing deals

Searching for more financing deals helps you choose the offer that has the best rates included in it. You can do these by looking upon the available loan deals offered online. Using the internet also allows you to determine the offers solely offered for online applicants. These loan offers most of the time involve lower rates compared to those offered by banks and other credit institutions.

You can also check the loan rates offered by banks, credit unions, and dealerships. Compare their rates with those that you obtained from the internet.