When you take on a secured loan , like a car loan, cheap loans can be obtained if you have good credit. Often, however, going to the dealership is the worst way to get a loan since the financing may not be advantageous for you and you might not get a good rate. To get the best possible car loans for you, you should consider shopping online first. However, you need to know where to look.
Loan comparison sites
The first place to start looking for any loan, whether you are seeking refinances rates or a homeowner loan or want to consolidate loans, is a loan comparison site. There are many sites out there dedicated to help you find the best loan deals and to locate cheap APR loans. Some general ones that can provide information on interest rates include Eloan.com and Bankrate.com. You can also try websites specific to auto loans with names like Autoloan.com or Carloan.com. You should be sure that any company you give your personal information to in order to get quotes is a reliable one and that they have privacy and security protections in place to secure your personal data. As long as the comparison shopping site you choose is trusted and secure, you can often get the best loan rates by using these websites that let you check multiple sources at once.
Another good place to look is the bank you already have a relationship with, like the one where you have a checking or savings account. Visit their website to see what their rates are and if you can get a free car quote from them.
There are many other lenders out there that are known for offering inexpensive car loan options. One example is Capital One, which provides no hassle loans to qualified buyers of vehicles. Their rates are competitive, but be sure to shop around to all of the different sources first to see if you are getting the best deal or not. It is also worth considering visiting the websites of credit unions as their rates are often competitive. If you or a loved one was in the military, USAA may also be able to help.