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Best Car Loan Rates - Tips To Getting a Low Auto Loan Rate Online


Online car loan shopping practically guarantees that you are getting the best rates. Your location is no longer a barrier to finding the best auto loan rate. However, you want to take advantage of the financing options available. While searching for an auto loan, research financing companies, negotiate terms, and increase your down payment to get low rates.

Study Financing Companies

A sure fire way to find the best car loan rate is to study financing companies. Only by requesting quotes and comparing the fine print can you truly know you are getting the lowest rate.

Fortunately, online auto loan brokers offer convenient ways to compare lenders. With some sites you can make side by side comparisons, while other sites will email you multiple financing offers. Auto loan brokers work hard to attract customers by negotiating lower rates with lenders, so you often will find better deals through their sites that through a dealership.

To ensure that you are getting accurate quotes, fill out the form as completely as possible. A slight difference in income or employment dates can reduce your interest rate.

Negotiate Terms

To find the best auto loan for your financial situation, you will want to balance the interest rates and length of your loan. Shorter loans offer lower rates, but with a higher monthly payment. Take a look at your monthly budget to see what type of auto loan would work best for your situation.

Increase Your Down Payment

While zero down or a slight down payment are options for car buyers, a large down payment will save you money. By putting down 20% or more, you will qualify for a lower interest rate, even if you have adverse credit. You will also save money by not paying interest on that portion of the vehicle's price.

Demand A Better Deal

By getting pre-qualified for a car loan, you can also reduce the cost of your vehicle by demanding a better deal from your dealership. As a pre-qualified buyer, salespeople see you as a cash buyer, and they want your money. You can negotiate for rebates, higher trade-in value of your vehicle, and extra features.

To view our list of recommended auto finance companies online, please visit this page: Recommended Auto Loan Companies Online.

Carrie Reeder is the owner of ABC Loan Guide, an informational website about various types of loans.


MORE RESOURCES:

WWJ

Automakers pledge to restructure in return for loans
MarketWatch - 4 hours ago
Chrysler joined the gloomy chorus, asking for $7 billion in bridge loans to keep the company from failing at some point in the first quarter. ...
GM seeks $18B in loans, says it needs $4B to survive year Detroit Free Press
GM Seeks $4 Billion to Survive ‘08, $18 Billion Total (Update2) Bloomberg
GM Makes Pitch For $18 Billion In Aid, Needs Cash Before Year's End CNNMoney.com
International Herald Tribune - Detroit Free Press
all 95 news articles


Executives Return to Congress to Plea for $25 Billion in Loans
Washington Post, United States - 16 hours ago
By Kendra Marr In its second attempt to persuade Congress to grant the US auto industry $25 billion in emergency loans, Chrysler plans to make the case that ...
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Pelosi Says Bankruptcy by Automakers ‘Not an Option’ (Update2) Bloomberg
Automakers Detail How They'd Survive With Federal Help Investor's Business Daily (subscription)
Reuters - Automotive News
all 111 news articles


Telegraph.co.uk

GM says it needs $12 billion loans by late March
The Associated Press - 7 hours ago
WASHINGTON (AP) — General Motors says it needs $4 billion in government loans this month and a total of $12 billion by late March to keep operating. ...
GM asks for up to 18 billion in government loans AFP
General Motors seeks $12 bln in Government Loans - quick facts RTT News
General Motors outlines federal bridge loan request CanadianDriver
WXYZ - TMCnet
all 255 news articles


ABC News

Chrysler Asks For $7 Billion In Loans By End Of The Year
CNNMoney.com - 4 hours ago
The loan, coupled with its ongoing restructuring efforts, would keep Chrysler operating through March 31, 2009 . Chrysler also asked that the loans be ...
Ford makes plea for access to $9 billion in loans MarketWatch
Ford says CEO will work for $1 to get gov't loans KDRV
GM to slash workforce, brands in bid for 18 bn in loans Economic Times
Washington Times - The Associated Press
all 2,285 news articles


Fed Extends Three Emergency Loan Programs to April (Update2)
Bloomberg - 7 hours ago
2 (Bloomberg) -- The Federal Reserve extended the term of three emergency-loan programs to April 30 from January 30, aligning their expiration dates with ...
FACTBOX-The Fed's evolving liquidity toolkit Reuters
Fed Extends 3 Emergency Loan Programs New York Times Blogs
Fed extending liquidity measures Investment Executive
Reuters - Reuters
all 35 news articles


Los Angeles Business Journal

Investors Sue Countrywide Over Loan Modifications
New York Times, United States - Dec 1, 2008
The fund, Greenwich Financial Services, said it and other investors stood to lose money if Countrywide, now part of Bank of America, modified loans under a ...
Investors sue Countrywide to force loans purchase Reuters
Countrywide Sued by Fund Over $8.4 Billion Loan Deal (Update2) Bloomberg
A Tale of Two Loan Modifications, As Investors Sue Countrywide Housing Wire
Mortgageorb - Wall Street Journal
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Anonymous Banker: Why Are SBA Loans Disappearing?
New York Times, United States - 13 hours ago
In recent months, I’ve seen a marked improvement in the supporting documentation banks are requiring when they review a loan, better processes to verify ...
SBA Offers Disaster Assistance To Maine Businesses Economically ... MarketWatch
SBA approves disaster loans for Mount Desert fire WBZ
Federal money may help recover fire damage MaineToday.com
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Fitch: Update of Closed-End Fund Criteria for Leveraged Loans
MarketWatch - 6 hours ago
For the purpose of determining appropriate discount factors, performing loans are defined as loans which remain current on principal and interest payment ...


UPDATE: Nissan Sells $600 Million Bonds Backed By Auto Loans
CNNMoney.com - 4 hours ago
By Matthew Cowley NEW YORK -(Dow Jones)- The deafening silence in the market for bonds backed by consumer credit loans was interrupted Tuesday with a deal ...
Nissan Motor Sells $600 Million in Auto Loan Bonds (Update2) Bloomberg
all 6 news articles


Los Angeles Times

General Motors seeks $18 billion in loans from Congress
Los Angeles Times, CA - 3 hours ago
This morning Ford submitted a restructuring plan to Congress as part of a request for billions of dollars in federal loans. Chrysler is also expected to ...
Chrysler's viability plan calls for $7 billion emergency loan ... Motor Authority
Low-cost loans to Big Three an investment TheDay
Nov. auto sales sink to worst level since 1982 The Associated Press
Bloomberg - NewsReleaseWire.com (press release)
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