Are you looking for a new vehicle and are interested in finding low interest auto loans? There are so many great deals to be found right now that you should not have to look very far. Whether you are looking for a new vehicle or a used one you should be able to get a very low rate. Here are some tips to make sure you get the rate you want.
First, you need to shop multiple dealers. Even if the vehicles are not identical, but the price is similar you can shop their rates with other dealers. Compare at least 3 different dealers and make sure you let each one know who has the best deal. This will give them a chance to match or beat that deal for you.
Second, negotiate. So many people are afraid to haggle and get a lower price on the vehicle they are interested in. Know the value of the vehicle and know what kind of deal you should be able to get. Also know what the competition is doing so that you can use that to your advantage as well.
Last, make sure you can afford the vehicle you are getting yourself into. The last thing you want to have to do is watch as your vehicle is towed away by the repo man. That is not a good experience and will limit the options you have for vehicles in the future.
So follow these guidelines and use your own common sense and you can find plenty of low interest auto loans. They are out there and some even have rates that are as low as 0%. Just shop around and you will find the deal that you are looking for.
Bad Credit Auto Loans
Are you looking for an auto loan, but your credit is less than perfect? This is the normal anymore and that is why there are so many special financing groups ready to help you with bad credit auto loans. Here are some tips to help you get the loan you need without paying an arm and a leg for it.
First, you need to avoid most buy here pay here car lots at all costs. They will just put you into a vehicle that is not right for you and charge you twice what it is worth. Plus their finance rate is going to be as high as the state will allow, which means they are not only charging more than what the car is worth, but also making a huge profit off the interest as well.
The only buy here pay here car lots to consider are those with at least a 10,000 mile 50/50 warranty. They usually have very good vehicles and are much more reputable. They will treat you better and will not charge you as much in interest or the actual price of the car. These buy here pay here lots are usually ok to deal with.
Second, you should be ready to fork over a large down payment. The more you can come up with down the easier it will be for you to find the deal you want. There are plenty of new car dealers that will even give you a good deal if you can put a few thousand down on a vehicle.
The last thing to know is that you don’t have to settle for a 10 year old car and a high payment. There are plenty of dealers that will work with you. Pull your credit from all three bureaus and find out what your credit scores are. Call around and be honest with the car dealers. Tell them your scores and whether or not you have filed bankruptcy, had repossessions, or have any judgments. They will be able to give you an honest answer as to what they can do if you are honest with them.
Use these tips along with your own common sense and you will have better luck with bad credit auto loans. You will be able to find the right auto loan for you and get into the car that you want.
Related Good Credit Auto Loans Articles