How to get a Car Loan

Get a car loan is the most important step in car buying process. Car loan is one of the easiest obtained loan, there are 2 main requirements of the loan. Which are good credit rating of borrower and has sufficient income to make the repayment.

Here are some steps and tips to help you in car purchase :-

1) First of all, select your desire car model. Shop for different dealers and negotiate the price with them, you will probably get some price discount, free gifts from car dealers.

2) Shop for multiple car loan sources - banks, financial institutions, car dealers and etc. Compare their interest rates, terms and conditions of the loan. You may searching all those things online.

3) Find out the value of the car from Kelley Blue Book Used Car Guide. It's available at library or website online.

4) Decide how much you could spend as down payment. Using cash or trade in your current car and etc. It is better to place a larger amount as down payment, this will not only reduce the principal amount, you will likely get a lower interest rate.

5) Comparing the quotes from various lender, select the best rate and length of loan that fits to your budget and requirements.

6) If the offers can't meet your budget, you may take times to saving much money or looking for a car with cheaper price.

For more loan information and services, please check out Various Loan Services instead of How to get a Car Loan

Return to Loan-God Home Page

Return to top of the page